- Buy low and sell high is seldom executed by any management.
- EQT bid successfully on Chevron assets formerly worth billions before impairment to pay a fraction of that previous value.
- Chevron has the balance sheet and the ability to delay this sale to better times. This sale by Chevron has to be evaluated as poor execution by management.
- EQT would simply use the debt repaid to pay for this purchase as well as a stock offering.
- EQT also is notifying Equitrans Midstream management through this purchase and the Hammerhead dispute to "up their game" considerably.
For further details see:
EQT: Execution Takes Center Stage