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EOT EQT REPORTS THIRD QUARTER 2021 RESULTS AND FIRM TRANSPORTATION OPTIMIZATION PITTSBURGH , October 27 , 2021 -- EQT Corporation ( NYSE : EQT ) today announced financial and operational results for the third quarter 2021 . Third Quarter and Other Highlights : Total per unit operating costs of $ 1.25 / Mcfe , in - line with guidance • Sales volumes of 495 Bcfe , at high end of guidance • • • • ● • Capital expenditures of $ 297 MM , in - line with guidance Net cash provided by operating activities of $ 48 MM ; free cash flow ( ¹ ) of $ 99 MM Increased full year 2021 free cash flow guidance by approximately $ 200 MM Successfully executed sell - down of 525,000 Dth per day of MVP capacity Secured 205,000 Dth per day of premium Rockies Express Pipeline capacity Executed 10 - year water service agreement with ETRN covering SWPA operations President and CEO Toby Rice stated , " Now more than ever we are witnessing how important the role of natural gas is in the world's energy ecosystem . Within the last decade our industry , and specifically Appalachia , has leveraged technology and innovation to provide Americans with a low- cost , low - emissions , and reliable energy source . With increased pipeline and LNG export capacity , we are capable of delivering that same energy source on the world stage . " Rice continued , " We have spent the last two years positioning this company to maximize value creation by lowering our costs and improving price realizations . Today's announcement of our firm- transportation optimization through the sell - down of Mountain Valley Pipeline capacity and the addition of premium capacity to the Midwest is a continuation of these efforts . Improving our outlook further , in the last three months we have seen a structural shift in the natural gas macro- environment , pointing to a sustainable uplift in the forward curve and positioning EQT for robust long - term free cash flow generation from our deep inventory of high return drilling locations . We are excited by the trajectory of our business and the value being created for our shareholders . " ( 1 ) A non - GAAP financial measure . See the Non - GAAP Disclosures section of this news release for the definition of , and other important information regarding , this non - GAAP financial measure . Third Quarter 2021 Financial and Operational Performance Three Months Ended September 30 , ( $ millions , except average realized price and EPS ) 2021 2020 Total sales volume ( Bcfe ) Average realized price ( $ / Mcfe ) 495 2.33 $ 366 2.33 $ Change 129 Net loss attributable to EQT Corporation ( 1,980 ) $ ( 601 ) $ ( 1,379 ) Adjusted net income ( loss ) attributable to EQT ( a ) 43 $ ( 38 ) $ 81 Adjusted EBITDA ( a ) 565 $ 334 $ 231 Diluted loss per share ( 5.55 ) $ ( 2.35 ) $ ( 3.20 ) Adjusted earnings ( loss ) per share ( EPS ) ( a ) 0.12 $ ( 0.15 ) $ 0.27 Net cash provided by operating activities 48 $ 184 $ ( 136 ) Capital expenditures 297 $ 248 $ 49 Free cash flow ( a ) 99 $ 47 $ 52 ( a ) A non - GAAP financial measure . See the Non - GAAP Disclosures section of this news release for the definition of , and other important information regarding , this non - GAAP financial measure .