Capital Markets | Capital Expenditure | Impairment | Capital Expenditure - 2020
EQT to Impair Marcellus Assets at $1.6 Billion; Revises 2020 Capex Program
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EQT Corp. has provided an update on 4th quarter results and a revised look at 2020.
The company said during the 4th quarter it expects to incur an impairment charge between $1.4 billion and $1.8 billion related to its Appalachia properties.
As you might remember, Chevron said it plans to impair its Appalachia assets as the company gets ready to market the assets.
Range Resources also said it plans to write impairment its Ark-La-Tex assets acquired from Memorial Resources back in 2016. We believe Range will most likely sell this asset, hence the need to take the impairment charge now.
EQT's Initial 2020 Capex - Nov. 2019Back in the third quarter, EQT guided to a total capex of $1.35 billion of which $1.060 billion would be spent on Reveserve development. The company also guided to…
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