EQT Corp., the nation’s largest natural gas producer, said in a regulatory filing that it expects to spend more this year than in 2023

In preliminary fourth quarter results filed in a Form 8K with the U.S. Securities and Exchange Commission on Wednesday, EQT said it expects capital expenditures of $2.15-2.35 billion in 2024. That compares with $1.7-1.9 billion initially guided for 2023 spending.

The Appalachian pure-play bolted on 90,000 net acres in West Virginia in a deal to acquire Tug Hill Inc.’s upstream and midstream assets that closed in 3Q2023. As a result, fourth quarter production is expected to come in at 525-575 Bcfe, compared with 459 Bcfe it reported in the year-ago period. 

In addition to the acquisition, analysts at Tudor, Pickering, Holt & Co. said in a...