EQT ASA Agrees $3.7 Billion Coller Capital Acquisition to Double AUM
EQT plans to acquire private equity firm Coller Capital for up to $3.7 billion, aiming to double Coller’s assets under management within four years. The deal will expand EQT’s alternative investments platform and boost recurring management fees, potentially increasing annual fee-related revenues and enhancing long-term earnings growth.
1. Surge in Natural Gas Prices Drives EQT Equity Rally
Natural gas futures at Henry Hub surpassed $5 per MMBtu on Friday, recording an unprecedented 60% weekly increase—the largest since 1990—and sparked a 10.5% advance in EQT’s share price over the same period. Market participants cite a record cold wave forecast to grip 40 states and freeze-off risks that could curtail supply by as much as 15 Bcf/d at peak. Goldman Sachs commodity analyst Samantha Dart highlights that a simultaneous surge of roughly 16 Bcf/d in heating demand could push the system into temporary deliverability shortfalls. This extraordinary price volatility has propelled EQT and other gas producers to robust weekly gains, reinforcing the company’s leverage to extreme weather–driven fundamentals.
2. Strong Financial Position Boosts Free Cash Flow and Dividend Growth
EQT’s vertically integrated model—combining upstream production with midstream infrastructure acquired in 2024—enables low-cost gas production at approximately $2 per MMBtu. Over the trailing 12 months, the company generated $2.3 billion in free cash flow, which has been allocated to debt reduction, a share buyback program and a 5% dividend increase. With a current yield near 1.25% and control of over 1 million undeveloped core net acres across the Appalachian Basin, EQT projects cumulative free cash flow of $10 billion to $25 billion through 2029 at average gas prices between $2.75 and $5.00. Growth catalysts include planned expansions of the Mountain Valley pipeline system (MVP Southgate and MVP Boost) and several new LNG export agreements scheduled to commence in the early 2030s.
3. Upcoming Q4 and Year-End 2025 Earnings Release and Conference Call
EQT will publish its fourth-quarter and full-year 2025 results after the market close on Tuesday, February 17, 2026, followed by a conference call on Wednesday, February 18 at 10:00 a.m. ET. The live webcast will be accessible through the company’s investor relations portal, with an archived replay available for one year. Management has indicated the call will cover operational metrics across the Appalachian Basin, updated guidance on capital expenditures and production volumes, and strategic initiatives in midstream integration and sustainability. A brief Q&A session for analysts will conclude the event, offering investors a real-time opportunity to assess EQT’s near-term outlook.