UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): July 13, 2023
EQT CORPORATION
(Exact name of registrant as specified in its charter)
| | | | | | | | |
| Pennsylvania | 001-3551 | 25-0464690 |
(State or other jurisdiction
of incorporation) | (Commission
File Number) | (IRS Employer
Identification No.) |
625 Liberty Avenue, Suite 1700
Pittsburgh, Pennsylvania 15222
(Address of principal executive offices and zip code)
Registrant’s telephone number, including area code: (412) 553-5700
(Former name or former address, if changed since last report): None
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | | | | | | | |
| Title of each class | | Trading symbol | | Name of each exchange on which registered |
| Common Stock, no par value | | EQT | | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Item 2.02. Results of Operations and Financial Condition.
EQT Corporation (“EQT”) expects to report a total gain on derivatives for the three and six months ended June 30, 2023 of $164 million and $989 million, respectively.
In addition, for the three and six months ended June 30, 2023, EQT expects to report $212 million and $369 million, respectively, of net cash settlements received on derivatives and $68 million and $167 million, respectively, of premiums paid for derivatives that settled during the period.
Net cash settlements received on derivatives for the three months ended June 30, 2023 are composed of $305 million of net cash settlements received on EQT’s New York Mercantile Exchange (“NYMEX”) natural gas hedge positions and $93 million of net cash settlements paid on EQT’s basis and liquids hedge positions.
Net cash settlements received on derivatives for the six months ended June 30, 2023 are composed of $539 million of net cash settlements received on EQT’s NYMEX natural gas hedge positions and $170 million of net cash settlements paid on EQT’s basis and liquids hedge positions.
The dollar amounts included in this Current Report on Form 8-K are preliminary and subject to change. Final dollar amounts for the three and six months ended June 30, 2023 will be reported in EQT’s Quarterly Report on Form 10-Q for the period ended June 30, 2023.
The information contained in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liability of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | | EQT CORPORATION |
| | | (Registrant) |
| | | |
| | | By: | /s/ David M. Khani |
| | | David M. Khani |
| | | Chief Financial Officer |
Date: July 13, 2023
