Eqt

EQT Corp. CEO Robert McNally on Tuesday vigorously defended the country’s largest natural gas producer’s direction, calling a proposal put forward by Rice Energy co-founders to generate more value “fundamentally flawed,” and highlighting a plan to better control costs and improve operations.

EQT Corp. in a letter to shareholders late Monday said it has reduced its workforce in a broader effort to appease restive investors and to drive stronger results.

Rice Energy co-founders Toby Rice and Derek Rice on Monday called for a “course correction” at EQT Corp., which they said is severely undervalued and in need of more executives with “proven operational experience” like themselves.

EQT Corp. on Thursday said it would cut its 2018 production guidance and increase spending after a frenzied stretch of drilling in the wake of its Rice Energy acquisition put stress on its supply chain, logistics, pad operations and sent costs soaring.

EQT Corp.’s five-month search for a new CEO has come to an end in-house, with the company tapping current CFO Robert J. McNally to lead the company.

EQT Corp. said on Thursday the start of service on the Mountain Valley Pipeline (MVP) would be delayed by three months, as the project’s sponsors work through a pending legal challenge from the Sierra Club and other opponents.

EQT Corp. said Friday that it would sell its formidable 2.5 million net acre position in the Huron formation in Kentucky, Virginia and southern West Virginia for $575 million, parting with an early asset that helped give rise to the nation’s largest natural gas producer before it transitioned to more complex and prolific unconventional operations in the Appalachian Basin.

West Virginia has filed a motion to dismiss EQT Corp.’s federal lawsuit challenging the state’s flat-rate lease statute, arguing that the state can’t be coerced by the company to reverse its laws.

EQT Corp. on Thursday announced a pair of multi-billion dollar deals aimed at increasing shareholder value and streamlining the operations that have turned it into the nation’s largest natural gas producer.