PITTSBURGH--(BUSINESS WIRE)--EQT Corporation (NYSE:EQT) (the Company or EQT) announced today that it
has priced a public offering of 10,500,000 shares of its common stock at
a price to the public of $67.00 per share. The 10,500,000 share offering
was upsized from the originally proposed 9,500,000 share offering. The
Company has also granted the underwriters an option to purchase up to
1,575,000 additional shares of its common stock. The Company intends to
use net proceeds from this offering to fund the recently announced
acquisition of certain properties from Statoil USA Onshore Properties,
Inc., a subsidiary of Statoil ASA, other potential acquisitions and for
general corporate purposes.
Credit Suisse and J.P. Morgan are acting as book-running managers for
the offering. The offering will be made only by means of a prospectus
supplement and the accompanying base prospectus, copies of which may be
obtained on the Securities and Exchange Commission's website at www.sec.gov.
Alternatively, the underwriters will arrange to send you the prospectus
supplement and related base prospectus if you request them by
contacting: Credit Suisse Securities (USA) LLC, Eleven Madison Avenue,
New York, NY 10010, by calling 1-800-221-1037, or by emailing newyork.prospectus@credit-suisse.com;
and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York 11717, by calling 866-803-9204,
or by emailing prospectus-eq_fi@jpmchase.com.
This news release is neither an offer to sell nor a solicitation of an
offer to buy any securities, nor shall there be any sale of any such
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. A registration statement relating to the securities has
been filed and became effective October 17, 2013.
About EQT Corporation:
EQT Corporation is an integrated energy company with emphasis on
Appalachian area natural gas production, gathering, and transmission.
With more than 125 years of experience, EQT continues to be a leader in
the use of advanced horizontal drilling technology – designed to
minimize the potential impact of drilling-related activities and reduce
the overall environmental footprint. Through safe and responsible
operations, the Company is committed to meeting the country’s growing
demand for clean-burning energy, while continuing to provide a rewarding
workplace and enrich the communities where its employees live and work.
EQT also owns a 90% limited partner interest in EQT GP Holdings, LP. EQT
GP Holdings, LP owns the general partner interest, all of the incentive
distribution rights, and a portion of the limited partner interests in
EQT Midstream Partners, LP.
Cautionary Statements
Disclosures in this news release contain certain "forward-looking
statements" within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended, and Section 27A of the Securities Act of 1933,
as amended. Statements that do not relate strictly to historical or
current facts are forward-looking. Without limiting the generality of
the foregoing, forward-looking statements contained in this news release
specifically include the expectations of plans, strategies, objectives
and growth and anticipated financial and operational performance of the
Company and its subsidiaries, including guidance regarding, among other
things, financing plans (including number of shares to be sold in the
offering) and the Company’s expected use of proceeds from the offering.
The forward-looking statements included in this news release involve
risks and uncertainties that could cause actual results to differ
materially from projected results. Accordingly, investors should not
place undue reliance on forward-looking statements as a prediction of
actual results. The Company has based these forward-looking statements
on current expectations and assumptions about future events. While the
Company considers these expectations and assumptions to be reasonable,
they are inherently subject to significant business, economic,
competitive, regulatory and other risks and uncertainties, many of which
are difficult to predict and beyond the Company's control. The risks and
uncertainties that may affect the operations, performance and results of
the Company's business and forward-looking statements include, but are
not limited to, those set forth under Item 1A, "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended December 31,
2015 and in other reports by the Company on file with the Securities and
Exchange Commission. Any forward-looking statement speaks only as of the
date on which such statement is made and the Company does not intend to
correct or update any forward-looking statement, whether as a result of
new information, future events or otherwise.
