Eqt Corporation · NYSE:EQT
Eqt — Barclays CEO Energy-Power Conference 2020
8 slides from Eqt's conference presentation, Sep 9, 2020
Slide 1: Supplemental Investor Presentation – Barclays CEO Energy-Power Conference
Supplemental Investor Presentation Barclays CEO Energy-Power Conference September 9, 2020 9/8/202 0 11 Exhibit 99.1
Slide 2: Cautionary Statements
Cautionary Statements This presentation supplements EQT Corporation’s Investor Presentation dated July 27, 2020 (the “Original IR Presentation”). This presentation contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Se
Slide 3: Business Update – 2H 2020
Business Update – 2H 2020 • Current well cost trends validating sustainability of 2Q 2020 performance Robust basis hedge position provides protection from in-basin price weakness • • Strategically executing volume curtailments to enhance NAV • Curtailed ~570 Mmcf per day gross / ~425 Mmcf per day ne
Slide 4: Business Update – 2021
Business Update – 2021 • Improving commodity fundamentals enhances 2021 financial outlook • Systematically adding hedges to lock-in value • Expecting 2021 free cash flow to be greater than 2020 Targeting total debt of $3.5 - $3.7 billion by year-end 2021 • Expecting leverage at or below 2.0x total d
Slide 5: Aggressively Pursuing Improved Credit Ratings
Aggressively Pursuing Improved Credit Ratings Addressing concerns raised by the agencies • Key concerns of rating agencies that led to negative ratings actions in the first half of 2020: • • Low commodity prices impacting profitability, cash flows, and leverage metrics Significant debt maturity prof
Slide 6: Appendix
Appendix 6 6
Slide 7: Non-GAAP Financial Measure: Adjusted EBITDA and Free Cash Flow
Non-GAAP Financial Measure Adjusted EBITDA and Free Cash Flow Adjusted EBITDA Adjusted EBITDA is defined as net income (loss), excluding interest expense, income tax (benefit) expense, depreciation and depletion, amortization of intangible assets, impairments, transaction, proxy and reorganization c
Slide 8: Non-GAAP Financial Measure: Net Debt
Non-GAAP Financial Measure Net Debt Net debt is defined as total debt less cash and cash equivalents. Total debt includes the Company's current portion of debt, credit facility borrowings, term loan borrowings, senior notes and note payable to EQM Midstream Partners, LP. Net debt is a non-GAAP suppl