By Scott Disavino
(Reuters) -US Energy Company EQT, the second largest natural gas producer in the country, plans to reduce capital spending but to produce more energy in 2025, while Rival Range Resources said it would keep spending and relatively stable production from 2024.
Companies have published their spending plans on Tuesday evening as well as declarations of results in the first quarter. US gas prices that should increase in 2025, companies should withdraw record quantities of gas this year. [NGAS/POLL]
EQT said it planned to spend $ 1.950 billion at $ 2.070 billion in maintenance capital in 2025 and produce around 6.03 to 6.30 billion cubic feet of gas equivalent (BCFED).
This is compared to spending of around 2.266 billion in capital in 2024 to produce on average 6.10 BCFED.
The CEO of the EQT, Toby Rice, awarded higher production forecasts and lower expenditure to high performance of wells, efficiency gains and synergies of the purchase of equitrans by the company in 2024.
“This underlines the enormous momentum that we live in Eqt and we do not see any sign of slowdown while we look to the future,” Rice said in the statement of winnings.
From its previous perspectives in 2025, published in February with fourth quarter results, the company said it expected to spend $ 1.950 billion at $ 2.120 billion and produce around 5.96-6.23 BCFED.
Separately, EQT said that he had agreed to spend about $ 1.8 billion to acquire assets upstream and in the median environment of Olympus Energy in the southwest of Pennsylvania with a net production of around 500 million cubic feet per day.
EQT plans to close the Olympus transaction in the third quarter of 2025 and did not include the impact of the current acquisition in its directives in 2025.
Range Resources Outlow Stable
Range Resources, another large American gas producer, said that he had planned capital expenses from $ 650 million to $ 690 million in 2025 to produce around 2.2 BCFED. The forecasts are unchanged from a range of expenses and production prospects published in February.
In 2024, the beach spent about $ 654 million in capital and produced around 2.18 BCFED.
Range also said that he collaborated with Liberty Energy and Imperial Land to provide gas to an electricity production installation offered in the county of Washington, Pennsylvania.
“The proposed electricity installation should serve as a catalyst to attract data centers and industrial operations looking for long -term, reliable and effective energy solutions,” said Range in its results.
Other major American gas producers, including the largest in the country, Expand Energy, will publish profits in the coming weeks.
(Report by Scott Disavino in New York; edition by Nia Williams)
