EQT CEO Foresees Low Natural Gas Prices, Demand Growth in 2024

Zacks09-19 22:17

EQT Corporation EQT CEO Toby Rice shared his outlook on natural gas prices during the Gastech energy conference. He noted that U.S. natural gas prices are likely to remain below $3 per million British...

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He noted that U.S. natural gas prices are likely to remain below $3 per million British...</p>\n\n<a href=\"https://finance.yahoo.com/news/eqt-ceo-foresees-low-natural-141700163.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0251142724.SGD","symbol_name":"Fidelity America A-SGD","start_time":0,"source_url":"https://finance.yahoo.com/news/eqt-ceo-foresees-low-natural-141700163.html","article_id":"2468650431","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/pjZcB6BIzIvc7rauGNggEg--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/b4802547354c3806e98e5631b7820da6"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468650431","pubTimestamp":1726755420,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"EQT Corporation EQT CEO Toby Rice shared his outlook on natural gas prices during the Gastech energy conference. He noted that U.S. natural gas prices are likely to remain below $3 per million British thermal units  in the near term. This would be an aftermath of prices hitting multi-year lows earlier in 2024, prompting EQT, the largest natural gas producer in the country, to curtail production by 1 billion cubic feet per day , per a Reuters report. Several other shale gas producers followed suit, reducing output to avoid oversupply.EQT CEO Stresses the Need for Market-Driven Solutions. Core Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that positions it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB’s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand conti","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0251142724.SGD":"Fidelity America A-SGD","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","BK4588":"碎股","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4179":"石油天然气设备与服务","IE00B29SXL02.USD":"FIRST SENTIER GLOBAL LISTED INFRASTRUCTURE \"I\" (USD) INC","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","IE00B29SXK94.USD":"FIRST SENTIER GLOBAL LISTED INFRASTRUCTURE \"I\" (USD) ACC","LNG":"Cheniere Energy Inc","NGS":"Natural Gas Services Group Inc","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU2449327464.USD":"HSBC GIF GLOBAL INFRASTRUCTURE EQUITY \"AC\" (USD) ACC","FTI":"德希尼布FMC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4213":"石油与天然气的勘探与生产","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4144":"石油与天然气的储存和运输","EQT":"EQT能源","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4585":"ETF&股票定投概念","CLB":"CORE LABORATORIES INC","EGY":"瓦可能源"},"translate_title":"殷拓首席执行官预计2024年天然气价格低迷，需求增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NGS":1,"EGY":1,"EQT":1,"FTI":1,"LNG":1,"CLB":0.9},"content_text":"EQT Corporation EQT CEO Toby Rice shared his outlook on natural gas prices during the Gastech energy conference. He noted that U.S. natural gas prices are likely to remain below $3 per million British thermal units (mmBtu) in the near term. This would be an aftermath of prices hitting multi-year lows earlier in 2024, prompting EQT, the largest natural gas producer in the country, to curtail production by 1 billion cubic feet per day (bcfd), per a Reuters report. Several other shale gas producers followed suit, reducing output to avoid oversupply.\nEQT Expects an Ease in Production Cuts\nDespite the current price environment, Rice expressed optimism for 2024, predicting an ease in production curtailments as the demand for U.S. liquefied natural gas (LNG) exports rises. EQT has secured agreements with LNG developers like Texas LNG and Commonwealth LNG, positioning itself to capitalize on the growing global need for natural gas. The company expects this demand to boost prices and stabilize production levels.\nEQT CEO Stresses the Need for Market-Driven Solutions\nRice emphasized the growing significance of natural gas, especially for LNG exports and power generation, stating that the United States must allow market forces to determine the energy mix. He criticized political interference for (supposedly) hindering natural gas development, calling for a return to a system where the most affordable, reliable and clean energy can reach the market without political barriers.\nDespite the short-term pressures, EQT remains focused on long-term growth driven by increasing demand for natural gas, particularly from the LNG sector. Rice reiterated that market-driven solutions are key to ensuring energy reliability and affordability in the future.\nEQT’s Zacks Rank & Key Picks\nCurrently, EQT carries a Zacks Rank #3 (Hold).\nInvestors interested in the energy sector may look at some better-ranked stocks like TechnipFMC plc FTI, Core Laboratories Inc. CLB and VAALCO Energy, Inc. EGY, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nTechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry, with a focus on the subsea segment in offshore basins worldwide. FTI’s growing backlog ensures strong revenue visibility and supports margin improvements.\nThe Zacks Consensus Estimate for FTI’s 2024 EPS is pegged at $1.34. The company has a Zacks Style Score of B for Value and A for Growth. It has witnessed upward earnings estimate revisions for 2025 in the past 30 days.\nCore Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that positions it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB’s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand continues to rise globally.\nThe Zacks Consensus Estimate for CLB’s 2024 EPS is pegged at $0.95. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.\nVAALCO Energy is an independent energy company involved in upstream business operations, with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.\nThe Zacks Consensus Estimate for EGY’s 2024 EPS is pegged at $0.65. The company has a Value Score of A. It has witnessed upward earnings estimate revisions for 2024 in the past 30 days.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nCore Laboratories Inc. (CLB) : Free Stock Analysis Report\nTechnipFMC plc (FTI) : Free Stock Analysis Report\nEQT Corporation (EQT) : Free Stock Analysis Report\nVaalco Energy Inc (EGY) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.27.0","shortVersion":"4.27.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468650431"}