EQT Sees Higher 2026 Gas Output on Lower Spending, CEO Confirms in Recent Interview

EQT Corporation’s CEO Toby Rice confirmed in a Reuters interview on September 22 that the company expects to deliver higher U.S. natural gas production in 2026 while cutting capital spending from 2025 levels. The outlook underscores EQT’s operational agility and market adaptability as global demand rises.

Production Rise with Lower Spending

Sources report that EQT, the second-largest U.S. natural gas producer, plans to increase its 2026 output while reducing expenditure compared to the prior year. CEO Toby Rice emphasized the company’s ability to modulate production—selling less gas when prices are low and ramping up when prices improve—creating over $200 million in annual benefit from this strategy. Rice confirmed these remarks in Bloomberg’s Reuters coverage dated September 22. Signs of curtailment in the Marcellus and Utica regions were noted as part of the approach.

This adjusted guidance comes after EQT already reduced its 2026 maintenance capital expenditure by $25 million during its Q2 earnings update in July. At that time, the company also raised production guidance by 0.25 bcfe per day, targeting an average 6.5–6.7 bcfe per day for 2026—up from 6.5 bcfe in 2025. Comparatively, EQT spent approximately $2.324 billion on maintenance capital in 2025. The updated guidance and production strategy align with efforts to enhance cost-efficiency while capitalizing on demand trends worldwide.

Strategic Flexibility and Forward Outlook

Rice highlighted EQT’s “shut-in program” as a key tool in managing production based on price signals—selling less during low-price periods and more when pricing rebounds. This approach enables the company to optimize realized pricing outcomes and preserve value.

Moreover, EQT is actively pursuing new demand avenues. In August, the company launched an open season for its proposed POWER pipeline, targeting to transport up to 1.0 bcfd of gas from Pennsylvania to Ohio by January 2030 to serve data-center demand. Additionally, EQT plans to proceed with MVP Boost—a 0.6 bcfd capacity expansion on the Mountain Valley Pipeline—expected in 2028, and MVP Southgate—0.55 bcfd capacity to North Carolina—slated to begin deliveries late in 2026.

What This Means for Investors

The combination of higher production expectations and reduced capital expenditure suggests EQT is sharpening its operational leverage while managing costs in a volatile pricing environment. Investors should monitor how actual output and spending align with guidance over the coming quarters, and whether the company can continue extracting gains from pricing flexibility and infrastructure expansion.

Summary

EQT’s latest update, delivered via Reuters, signals confidence in delivering strong production growth in 2026 alongside prudent spending reductions. CEO Rice’s emphasis on strategic flexibility through production curtailment protection, combined with expanded pipeline capacity plans, positions EQT to respond dynamically to evolving demand and price environments.

Key Facts

• Event reported via Reuters on September 22, 2026.
• EQT expects higher 2026 U.S. gas production with lower capital spending compared to 2025.
• CEO Toby Rice noted the company’s “shut-in” production strategy has generated over $200 million in annual benefit.
• Q2 update included a $25 million reduction in maintenance capex guidance and a production increase to 6.5–6.7 bcfe/day.
• Ongoing infrastructure plans include the POWER pipeline, MVP Boost, and MVP Southgate.