EQT reports $601M loss in third quarter of 2020
Friday, October 30, 2020
EQT Corp. reported a net loss of $601 million in the third quarter 2020, according to Kallanish Energy.
Although the recent loss was higher than a year ago — a loss of $361 million in the third quarter of 2019 — it was smaller than expected. The company was able to mitigate the drop in demand and prices in the wake of the coronavirus pandemic with lower operating costs.
EQT’s sales volumes in the quarter ending Sept. 30 fell about 4% to 366 billion cubic feet of equivalents with about 15 billion cubic feet of production curtailed.
As of early October, all of EQT’s curtailed production has been returned to service.
Learn more: Kallanish Energy > EQT reports $601M loss in 3Q 2020
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