PITTSBURGH, April 15, 2021 /PRNewswire/ -- EQT Corporation
(NYSE: EQT) today issued the following statement in support of H.J.
Resolution 34, and S.J. Resolution 14 of the 117th Congress, which
provide for Congressional disapproval of the 2020 Methane
Rescission Rule submitted by the Administrator of the Environmental
Protection Agency relating to "Oil and Natural Gas Sector: Emission
Standards for New, Reconstructed, and Modified Sources Review" (85
Fed. Reg. 57018 (September 14,
2020)):
"As the nation's largest natural gas producer, EQT knows that
natural gas will continue to play a meaningful role in accelerating
a sustainable pathway to a low carbon future. We believe the
responsible development of natural gas will help meet future global
energy demand as we address climate change together. As an
industry leader in reducing methane emissions, we support
reinstituting NSPS OOOOa as a uniform federal standard. EQT
is committed to working with elected officials, regulators and
other stakeholders to establish sound environmental policies that
promote increased access to clean and affordable energy
sources."
Earlier today, EQT announced its commitment to seek independent
certification of a majority of its produced natural gas under
certification standards developed by Equitable Origin and MiQ. The
certification process is expected to commence this month, and it is
anticipated that certification from Equitable Origin and MiQ will
be obtained later this year.
These certifications will expand EQT's growing portfolio of
certified natural gas, sometimes referred to as responsibly sourced
gas. When its certification project with Equitable Origin and MiQ
is completed, EQT will be producing more certified gas than any
other producer's total domestic natural gas production (certified
or uncertified). Equitable Origin has a proven track record of
certifying energy companies on ESG indicators in accordance with
its EO100™ Standard for Responsible Energy Development, a set of
rigorous ESG performance standards for energy development projects.
MiQ, a non-profit partnership between RMI and SYSTEMIQ, is
pioneering a market-based approach to rapidly reduce methane
emissions across the natural gas sector.
"We are committed to the highest standards of performance for
our production operations," said Toby
Rice, President and Chief Executive Officer of EQT.
"Sound federal policies such as a reinstitution of NSPS OOOOa and
independent certifications such as our project with Equitable
Origin and MiQ will allow us to further demonstrate our commitment
to producing our natural gas in accordance with high environmental
and social standards, differentiating our company and supporting
our collective objectives of accelerating a sustainable pathway to
a low carbon future."
Contacts
Investors:
Andrew
Breese
Director, Investor Relations
412.395.2555
ABreese@eqt.com
Media:
Kelly
Kimberly
713.822.7538
kkimberly@sardverb.com
About EQT
EQT Corporation is a leading independent
natural gas production company with operations focused in the cores
of the Marcellus and Utica Shales in the Appalachian Basin. We are
dedicated to responsibly developing our world-class asset base and
being the operator of choice for our stakeholders. By leveraging a
culture that prioritizes operational efficiency, technology, and
sustainability, we seek to continuously improve the way we produce
environmentally responsible, reliable and low-cost energy. We have
a longstanding commitment to the safety of our employees,
contractors, and communities, and to the reduction of our overall
environmental footprint. Our values are evident in the way we
operate and in how we interact each day – trust, teamwork, heart,
and evolution are at the center of all we do. To learn more,
visit eqt.com.
Cautionary Statements
This news release contains
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 and
objectives of EQT Corporation and its subsidiaries (collectively,
the Company), including the projected terms, scope, benefits and
results of the natural gas certification project with Equitable
Origin and MiQ (the Project), the projected market for certified
natural gas, and the timing of implementation of the Project and
obtaining certification or whether the Project and certifications
will be implemented or obtained at all. The risks and uncertainties
that may affect the implementation and execution of the Project and
other forward-looking statements made herein include, but are not
limited to, volatility of commodity prices; the costs and results
of drilling and operations; access to and cost of capital;
uncertainties about estimates of reserves, identification of
drilling locations and the ability to add proved reserves in the
future; the assumptions underlying production forecasts; the
quality of technical data; the Company's ability to appropriately
allocate capital and resources among its strategic opportunities;
inherent hazards and risks normally incidental to drilling for,
producing, transporting and storing natural gas, NGLs and oil;
cyber security risks; availability and cost of drilling rigs,
completion services, equipment, supplies, personnel, oilfield
services and water required to execute the Company's exploration
and development plans; the ability to obtain environmental and
other permits and the timing thereof; government regulation or
action; environmental and weather risks, including the possible
impacts of climate change; uncertainties related to the severity,
magnitude and duration of the COVID-19 pandemic; and disruptions to
the Company's business due to acquisitions and other significant
transactions. These and other risks are described under Item 1A,
"Risk Factors," and elsewhere in the Company's Annual Report on
Form 10-K for the year ended December 31,
2020, as updated by Part II, Item 1A, "Risk Factors" in the
Company's subsequently filed Quarterly Reports on Form 10-Q and
other documents the Company files from time to time with the
Securities and Exchange Commission. In addition, the Company may be
subject to currently unforeseen risks that may have a materially
adverse impact on it.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/eqt-issues-statement-in-support-of-reinstating-federal-methane-rule-301269340.html
SOURCE EQT Corporation (EQT-IR)