U.S.-based energy company EQT Corp said on Wednesday it expects to maintain natural gas production in 2026 at levels consistent with its 2025 exit rate, following lower sales volumes forecast for the current quarter.
Shares of the Pennsylvania-based company were down 3.8% at midday.
The company expects total sales volume of 550 to 600 billion cubic feet equivalent (Bcfe) in the fourth quarter, lower than 634 Bcfe in the third quarter.
It includes the impact of 15 to 20 Bcfe of strategic curtailments during October, as EQT said it continues to optimize around in-basin pricing volatility.
“We believe some near-term selling pressure could emerge on the disappointing fourth-quarter guidance,” said Gabriele Sorbara, analyst at Siebert Williams Shank & Co.
The company also narrowed its full-year sales volume forecast to between 2,325 and 2,375 Bcfe from its prior outlook of 2,300 to 2,400 Bcfe.
EQT executives on a post-earnings call said they expect maintenance capital expenditure to decline towards $2 billion later this decade, reflecting efficiency improvements in its operations.
The company added that it has made significant progress with the various in-basin power projects announced in the last quarter and is seeing additional opportunities to provide natural gas supply and infrastructure to service new load growth in Appalachia.
(Reporting by Pooja Menon and Dharna Bafna in Bengaluru; Editing by Maju Samuel)