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EQT Writing Down $1.4-$1.8 Billion in Assets During 4Q19

By Criterion Research
January 14, 2020 -

EQT intends to take a fourth-quarter 2019 non-cash impairment charge of $1.4-$1.8 billion due to the following:

1. "reducing the carrying value of certain proved and unproved properties as a result of management’s potential monetization of select, non-core exploration and production assets and depressed natural gas prices"

2. "the write-down of unproved properties which are primarily the result of changes to our development strategy and renewed focus on a refined core operating footprint"


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Entities
EQT Corporation

Categories
Oil and Gas
Upstream

Commodities
Crude Oil
Natural Gas
Natural Gas Liquids (NGL)

Tags
Asset Write Downs
Earnings Releases

Regions
Appalachia

Countries
United States

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