Equitrans' top producer customer to slash natural gas output

May 18, 2020 12:59 PM ETEquitrans Midstream Corporation (ETRN), EQTETRN, EQTBy: Carl Surran, SA News Editor10 Comments
  • Equitrans Midstream (ETRN +2.1%) says it has been notified that the largest producer customer of its EQM pipeline will temporary curtail natural gas production by ~1.4B cf/day in Pennsylvania and Ohio, the pipeline company says in an SEC filing.
  • Nat gas producer EQT Corp. (EQT +1.4%) has begun to temporarily trim certain Pennsylvania and Ohio wells starting May 16, deferring sales to a "more favorable gas environment," Bloomberg reports.
  • EQT says it is monitoring the nat gas market to determine the best time to return production.
  • Equitrans last week cut its Q2 outlook for adjusted EBITDA to $240M-$265M from previous guidance of $255M-$275M on an assumption that curtailments would last 45 days.
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