EQT shares climbed approximately 10.5% over the past week as Henry Hub natural gas futures surged more than 60%—the largest weekly gain on record. The extraordinary cold wave forecast to sweep 40 states prompted traders to reprice near‐term supply risks, with industry estimates indicating freeze‐offs could curtail production by up to 15 billion cubic feet per day on January 26. That near‐term deliverability squeeze, coupled with an expected 16 Bcf/d spike in heating demand on the storm’s coldest day, sent cash prices sharply higher and spurred a broad rally among integrated gas producers, including EQT.

As the only large‐scale vertically integrated U.S. gas producer, EQT operates both upstream wells and midstream infrastructure, enabling production at an all‐in cost of roughly $2 per MMBtu. Over 90% of its output flows through its own system, driving free cash flow generation of $2.3 billion over the past 12 months. The company controls more than one million undeveloped core net acres in the Marcellus, Utica and Appalachian Upper Devonian plays—resources expected to sustain current production levels for at least 30 years. EQT projects cumulative free cash flow of $10–$25 billion through 2029 at average gas prices between $2.75 and $5.00 per MMBtu, providing flexibility for debt reduction, share repurchases and dividend hikes.

EQT has outlined a suite of midstream expansion projects to capture incremental takeaway capacity and support rising demand. The Mountain Valley Southgate and Boost pipeline segments are slated for commercial in‐service dates in 2028 and 2029, respectively, while LNG export agreements secured with international buyers will begin lifting volumes to coastal terminals in the early 2030s. Additionally, the company is investing in dedicated gas supply infrastructure for several large data‐center developments in the Mid‐Atlantic region, leveraging its proximity to northern Virginia hubs to meet projected power‐sector demand driven by artificial intelligence deployments.

In January, EQT announced a definitive agreement to acquire Coller Capital in a transaction valued at up to $3.7 billion. Coller, a leading private equity fund investor headquartered in Sweden, is expected to double in size over the next four years according to management forecasts. This acquisition broadens EQT’s alternative asset base, diversifies its revenue streams beyond energy production and enhances its ability to deploy capital across a wider range of sectors. The deal is anticipated to close in the second quarter, subject to regulatory approvals and customary closing conditions.

EQT plans to release its fourth quarter and full‐year 2025 financial and operating results after market close on Tuesday, February 17, 2026. Management will host a conference call on Wednesday, February 18 at 10:00 a.m. ET, followed by a brief question‐and‐answer session with securities analysts. Investors can access the live webcast and replay through the company’s investor relations website, where the archived call will remain available for one year.