12 Best Energy Stocks To Invest In Now

10. EQT Corporation (NYSE:EQT)

Number of Hedge Fund Investors: 48

EQT Corporation (NYSE:EQT) is the largest producer of natural gas in the United States, primarily operating in the Appalachian Basin. The company focuses on the exploration, development, and production of natural gas by leveraging advanced technologies. EQT Corporation (NYSE:EQT) sells natural gas to utilities, industrial consumers, and energy marketers.

In Q3, EQT Corporation (NYSE:EQT) completed the strategic acquisition of Equitrans Midstream, a move that transformed the company into one of the largest vertically integrated natural gas businesses in the United States. This acquisition has not only expanded the company’s midstream capabilities but also created a more resilient and efficient business model. The integration of Equitrans has been remarkably swift, with over 60% of the integration tasks completed in just three months. This rapid progress has already resulted in significant cost savings, with $145 million in annualized financial and corporate cost synergies achieved, exceeding the company’s original expectations. The integration is expected to unlock additional operational efficiencies, such as improved water delivery systems and optimized completion times, which are crucial for reducing well costs and enhancing overall productivity.

EQT Corporation’s (NYSE:EQT) is also focusing on operational excellence. The company has set new records for water delivery and completion efficiency, with footage completed per day in Q3, averaging 35% faster than in the same period in the prior year. These gains are a direct result of the seamless coordination between EQT Corporation’s (NYSE:EQT) upstream operations and Equitrans’ midstream assets. The integration has also enabled EQT Corporation (NYSE:EQT) to reduce its capital expenditures, with the potential to save $50 million to $60 million annually through efficiency improvements. Looking ahead, EQT Corporation (NYSE:EQT) aims to achieve even greater efficiency gains, with the goal of completing 50% more footage per day in 2025 compared to its historical average. This focus on efficiency is also expected to reduce the number of frac crews from three to two over time.