September 23, 2025 • 12 mins
Anger over rising energy costs will eventually force states to allow more natural gas infrastructure to be built in the US, according to one of the nation’s largest producers of the fuel.
“We’ve never produced more energy than we’re producing now, but Americans’ energy bills are up over 35%,” EQT Corp. Chief Executive Officer Toby Rice said Thursday at BloombergNEF’s Barrel of Tomorrow in the Age of AI summit in Houston. “That’s the catalyst that’s going to get people asking questions.”
Rice and other panelists including Chris James, founder and chief investment officer of investment firm Engine No. 1 LP, and Cynthia Hansen, head of gas transmission and midstream at Enbridge Inc., see developing more infrastructure, particularly natural gas, as the way to bring down utility bills as well as meet demand from data centers supporting artificial intelligence. Rice, the head of the $31 billion natural gas supplier, discusses the opportunities and challenges within his industry with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:07):
You're listening to Bloomberg Business Week with Carol Masser and
Tim Steneveek on Bloomberg Radio.
Speaker 3 (00:14):
Bloomberg reported over the summer that businesses and households served
by the largest US power grid will spend a record
sixteen point one billion to ensure electricity supplies amid a
massive artificial intelligence driven demand search. We are talking about
this a lot, and having said that, we just talked
about what Nvidia's doing with open Ai and their spend.
(00:34):
That price increase though prompted calls from utilities and energy
groups to build more generations. So we want to see
what our next guest has to say about it. He
is in the midst of it, Toby Rice, his president
CEO of EQT, the nearly thirty one billion dollar market
cap vertically integrated energy company obviously specializing in net gas. Toby,
good to have you here. I want to start big
(00:54):
on broad the macro. How would you describe it right
now for you?
Speaker 2 (00:58):
Well, business natural gas markets.
Speaker 4 (01:00):
In one word, I would say it's going to be
very vautal in the short term, and one word for
the long term, I'd say incredibly exciting when you look
at the three major themes that are that are hitting
energy right now.
Speaker 2 (01:11):
The desire to continue to evolve our.
Speaker 4 (01:12):
Energy systems, replacing coal with natural gas major theme ais
what everybody's talking about right now. That's a major that's
going to be a major source of demand. And then
providing energy security to our allies is still a thing
and that's going to be playing on the energy. You
step back and you add it all up, we're talking
about a twenty to forty percent increase and natural gas
demand in this country.
Speaker 3 (01:32):
Well, let me just ask you because before that, let's
go back.
Speaker 2 (01:35):
That's longer term.
Speaker 3 (01:36):
But I know our BI people have put some research
and they talked about North American gases at an inflection,
and they talked about AI data centers and adding to
domestic demand near Appalachians supply, will energy exports sustained global?
Speaker 2 (01:48):
But so tell us about the shorter term.
Speaker 3 (01:50):
Is there a little bit of an inflection point for you?
Speaker 4 (01:51):
I'd say the next the next three to five years,
data centers and fueling the AI revolution is going to
be a very big focus. But keep in mind we're
going to be doubling US LG exports over the next
five years. So we're doing both of these at once.
And the good news is that we've got the natural
resource in this country. It's just going to come down
to how fast we can actually get this infrastructure built.
Focusing specifically on the power demand side of things. When
(02:14):
you step back and look at electrify everything, not just AI,
we're looking at a ten to eighteen Bcfi day natural
gas demand to meet that. That's a ten to eighteen
percent increase in demand and about four to six about
forty percent of that is going to be for data centers,
so it's going to be this can be really big.
We're seeing these opportunities happen in our backyard.
Speaker 2 (02:33):
EQT. We signed up over one and a half Bcfi
day of natural gas fee ad for those and.
Speaker 4 (02:40):
This is a market that's about one hundred bcf a
day just to make the numbers ballpark, So one and
a half Bcfi day of natural gas supply for these
data centers in Pennsylvania. This is going to generate enough
power to almost power to New York cities. So these
are major league infrastructure projects in a grid that desperately
needs more power generation.
Speaker 1 (02:59):
The tech companies to talk about nuclear power generation powering
their data centers. The President likes to talk about the
promise of nuclear power, and I say promise of it
because we know how to do it, but it just
takes a long time and it's very expensive. How do
you view the increased interest in recent years in nuclear
power as a threat to your business?
Speaker 4 (03:18):
I think that natural gas is the clear winner right now.
This has been a big question that people have been
asking over the last call it eighteen months. What is
going to power this AI revolution? What was originally thought
to be renewable is going to pick this up? Then
people went to nuclear and realize it's going to take
too long to get it done. Comes back to natural gas. Why,
because we have the track record of scale and speed.
(03:39):
If you look over the last ten years, we've seen
natural gas power demand increase fourteen bcfday. So think about
how much we're planning on doing. We've done that with
natural gas. Now, longer term, we think nuclear is going
to be a great option. But understand this, natural gas
has a vehicle to become zero carbon, and that's why
we're spending a little bit of money today on carbon
(04:00):
capture that will enable natural gas to be the first
reliable affordable zero carbon energy solution.
Speaker 2 (04:07):
The world does not have that today, you know.
Speaker 3 (04:08):
Just like there's a big spend in AI and data centers,
there seems to be a big spend and that energy
to support it and what's needed. You have announced multiple
long term sales and purchase agreements, I think just in
the last few months. Some are fearing an oversupply to
be in twenty twenty seven twenty twenty nine. What are
you hearing from LERG buyers about kind of your demand
visibility window and how confident are you. It sounds like
(04:30):
you're pretty confident on a longer term pull for LERG
or us LG specifically.
Speaker 4 (04:34):
Yeah, on the energy front, we certainly wouldn't disagree. We
do see a little bit of an oversupply situation globally
for energy that could lead to software prices in that
twenty seven to twenty nine time frame that you mentioned.
And you say, well, Tob, why did you just go
and sign up for a massive amount of energy. It's
because our contracts are going to be starting. We're going
to be getting that exposure in twenty thirty, so this
(04:56):
oversupply will pass and then we're back to a tight
situation and that's where energy is hitting the market. When
you want to talk about demand, just step back and
look at this world. For a world that's going to
continue to care about climate and emissions, replacing the coal
in this world is going to require an additional one
hundred and seventy BCF a day of natural gas. If
you care about the people living on this planet, it's
(05:17):
going to take an additional one hundred and twenty BC
other day.
Speaker 3 (05:20):
Sure are you that people care about that? We are
certainly feeling this year a pushback well when it comes
to concerns about carbon emissions and climate. Yeah, there's not
from everyone, and I have to be very careful because
there's a lot of folks that are working really hard
on this area.
Speaker 2 (05:34):
Yeah, but how Yeah, the confident and comfortable are on
the energy transition.
Speaker 4 (05:38):
There's a ton of people that are passionate about this,
and that passion is not going to go away with
just one election. But I think what is happening now
is people are stepping back and they're looking at the
plans they put in place, and they're looking at the
results of those plans. And what we're seeing is that
Americans energy bills are up over thirty five percent. Now,
renewables is not to blame for all of that. We've
(05:58):
had a massive infrastructure cancelation movement that's prevented us from
getting energy infrastructure built. That's the root cause of this issue.
But when you step back and look at how much,
how big of an impact this has had. We spent
over two trillion dollars on renewables last year, and put
that in perspective, we spent over one point three billion
dollars in oil and gas the energy solution that provides again, yeah,
(06:22):
two trillion dollars in renewables. Who what do you mean?
Speaker 2 (06:24):
We spent the world invested over two trillion dollars.
Speaker 4 (06:27):
In renewables built out and yeah, and then for comparison,
oil and gas investments that provides over eighty percent of
the world's energy, we invested over one point three trillion dollars.
Speaker 2 (06:39):
So this has been a very big theme. But it's
coming out.
Speaker 3 (06:42):
Show to you that people are this is the future's renewables.
That's where they're spending money. Is that what you're saying?
Speaker 4 (06:48):
If you went by where people were spending money, that
does not necessarily mean what's going to be the future.
The future of energy is going to be the energy
solution that is affordable, reliable, and clean and has all
three of those attu in check. I think the energy
transition maybe has prioritized the clean aspects of energy. But
as we're seeing right now, Americans are scratching their heads
(07:08):
looking to see the record amounts of energy investments that
we're making and the record amounts of energy production in
this country, and their energy bills are up thirty five percent.
They're scratching their heads. Why is this happening. It's because
the solutions that we're putting on the field need to
be the right solutions, and that is natural gas.
Speaker 1 (07:24):
But it's also because, as you said, the demand has
gone up. For years, it was kind of flat, it
was stable, and then we saw this huge increase in
demand for power here in the US. So demand has
a lot to do with it too.
Speaker 4 (07:34):
Well. Demand hasn't really started to pick up just yet.
We're coming out of it. I think we're looking at
massive growth prospects. But this really is a repercussion from
all of the not under investment in reliable infrastructure over
the past decade now this country, in America, since twenty eighteen,
it's become almost impossible to get a pipeline built in
(07:56):
this country. We own an asset called Mountain Valley Pipeline.
Took an Act of Congress to get that pipeline built.
So infrastructure has been incredibly challenged, and that is really
strained markets and really put some stress on the system.
Speaker 1 (08:08):
So let's talk about those challenges. Are you having constructive
conversations or are you having any conversations with the Trump
administration representatives from the Trump administration to try to ease
those regulatory delays.
Speaker 4 (08:17):
So this administration truly understands how important affordable and reliable
is in the energy equation. You know, Secretary right fabulous
really understands energy, all forms of energy. So I think
we're going to have some practical approach towards energy solutions
that we put in place. But that being said, the
executive branch is not going to dictate the types of
(08:39):
energy that we put in this country. We're going to
need Congress to act to pass meaningful permit reform so
we can get back to letting the most cost effective, reliable,
cleanest form of energy.
Speaker 1 (08:49):
Do you consider wind power a form of energy?
Speaker 2 (08:51):
Absolutely?
Speaker 1 (08:51):
It doesn't seem like this administration supports that.
Speaker 4 (08:54):
Yeah, I mean, was that a mistake, Well, I would
say it's as a as a sponsor of a pipeline,
mount value pipeline has been subjective to tremendous political force.
This is a situation where I think we would be
in a much better place if we would let market
forces dictate the energy that makes its way to the
playing field, let political force take the back seat. Unfortunately,
(09:14):
we are going to need some help from our leaders
in Washington, DC. I hope they notice that we've got
a massive demand surge coming. We do not have the
right infrastructure set up right now. We need to do
a massive build out. And just for people to understand
the race that we're in right now, this is a
national security threat for US. We have got to win
the race for AI. And right now, how we're faring
in the US where we put in six gigawatts of
(09:36):
reliable power generation this last year China put over sixty
of gigawatts of reliable power gen most of that call,
so we are not keeping pace. We need to do
a lot more.
Speaker 2 (09:47):
Just want to go back to.
Speaker 3 (09:48):
Cost just because it's cheap, and I understand there's other
parameters that you're putting in there. I mean, there are
net gas, there are leaks and so on and so
forth that do impact the environment. So it's not the
cleanest and purest. There are problems with it. And I
just wonder if we're always constantly chasing the cheapest thing
out there that's not necessarily a good thing. And just
(10:08):
bring up all the manufacturing that we've put outside the
United States just because it was a cheaper good that
we're finding maybe that wasn't such a good strategy. So
I just want to bring that back to the energy
sector that maybe sometimes things have to be expensive to
get to a really, really smart solution.
Speaker 4 (10:24):
I think we need to take a holistic approach when
we're looking at energy, and we need to look at
the balance between cost, reliability, and the carbon footprint associated
with that energy. That's why when we look at those
attributes for natural gas, that's why we believe that this
is the energy solution of the future. When you look
at regions that ignore and just over prioritize the clean
aspects of energy, you have situations like Europe, and we've
(10:47):
seen what's happened there.
Speaker 2 (10:49):
It's been a crisis.
Speaker 4 (10:50):
Thank goodness for American America and the energy that we've
been able to provide them to get them through this
with our LERG.
Speaker 2 (10:56):
So it's got to be a balanced approach.
Speaker 4 (10:57):
It's not all going to be about cost, it's not
all going to be about reliability or carbon footprint. It's
got to be a healthy balance of three. Right now,
we need to get back to the affordable, reliable.
Speaker 3 (11:07):
Speaking of balance, and I just want to go to
your balance sheet because there is a spend right everybody's
doing it because they are chasing this AI spend and
trying to be there in terms of support. You guys
have talked about working down to a twenty twenty six
year in debt target of five billion. I think that
was after the Equatransdale tell us about what you're considering
to help prop up your balanchet and just got about
thirty seconds, three.
Speaker 4 (11:27):
Seconds out thirty thirty thirty seconds. I'll tell you what
our priority, What our priorities are right now. Insure the
reliable production of energy. Right now, we produce a little
bit over a million barrels a day of energy.
Speaker 3 (11:37):
So anything that you need to do to meet that,
We're not worried about the spend.
Speaker 2 (11:40):
For maintenance volumes levels.
Speaker 4 (11:42):
We're going to be reliably providing the future by signing
up these growth contracts, both on energy and the data
sat to build out and from a cleanliness perspective. We've
already made the investments and we've already slashed our methane emissions.
We've got one of the best environmental programs that.
Speaker 3 (11:57):
Sounds like the spend and the Debt's okay for now. Yes,
I'm going to leave with there. Toby Rice, Presidents CE
of Equal e q T
Speaker 4 (12:06):
MHM
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:07):
You're listening to Bloomberg Business Week with Carol Masser and
Tim Steneveek on Bloomberg Radio.
Speaker 3 (00:14):
Bloomberg reported over the summer that businesses and households served
by the largest US power grid will spend a record
sixteen point one billion to ensure electricity supplies amid a
massive artificial intelligence driven demand search. We are talking about
this a lot, and having said that, we just talked
about what Nvidia's doing with open Ai and their spend.
(00:34):
That price increase though prompted calls from utilities and energy
groups to build more generations. So we want to see
what our next guest has to say about it. He
is in the midst of it, Toby Rice, his president
CEO of EQT, the nearly thirty one billion dollar market
cap vertically integrated energy company obviously specializing in net gas. Toby,
good to have you here. I want to start big
(00:54):
on broad the macro. How would you describe it right
now for you?
Speaker 2 (00:58):
Well, business natural gas markets.
Speaker 4 (01:00):
In one word, I would say it's going to be
very vautal in the short term, and one word for
the long term, I'd say incredibly exciting when you look
at the three major themes that are that are hitting
energy right now.
Speaker 2 (01:11):
The desire to continue to evolve our.
Speaker 4 (01:12):
Energy systems, replacing coal with natural gas major theme ais
what everybody's talking about right now. That's a major that's
going to be a major source of demand. And then
providing energy security to our allies is still a thing
and that's going to be playing on the energy. You
step back and you add it all up, we're talking
about a twenty to forty percent increase and natural gas
demand in this country.
Speaker 3 (01:32):
Well, let me just ask you because before that, let's
go back.
Speaker 2 (01:35):
That's longer term.
Speaker 3 (01:36):
But I know our BI people have put some research
and they talked about North American gases at an inflection,
and they talked about AI data centers and adding to
domestic demand near Appalachians supply, will energy exports sustained global?
Speaker 2 (01:48):
But so tell us about the shorter term.
Speaker 3 (01:50):
Is there a little bit of an inflection point for you?
Speaker 4 (01:51):
I'd say the next the next three to five years,
data centers and fueling the AI revolution is going to
be a very big focus. But keep in mind we're
going to be doubling US LG exports over the next
five years. So we're doing both of these at once.
And the good news is that we've got the natural
resource in this country. It's just going to come down
to how fast we can actually get this infrastructure built.
Focusing specifically on the power demand side of things. When
(02:14):
you step back and look at electrify everything, not just AI,
we're looking at a ten to eighteen Bcfi day natural
gas demand to meet that. That's a ten to eighteen
percent increase in demand and about four to six about
forty percent of that is going to be for data centers,
so it's going to be this can be really big.
We're seeing these opportunities happen in our backyard.
Speaker 2 (02:33):
EQT. We signed up over one and a half Bcfi
day of natural gas fee ad for those and.
Speaker 4 (02:40):
This is a market that's about one hundred bcf a
day just to make the numbers ballpark, So one and
a half Bcfi day of natural gas supply for these
data centers in Pennsylvania. This is going to generate enough
power to almost power to New York cities. So these
are major league infrastructure projects in a grid that desperately
needs more power generation.
Speaker 1 (02:59):
The tech companies to talk about nuclear power generation powering
their data centers. The President likes to talk about the
promise of nuclear power, and I say promise of it
because we know how to do it, but it just
takes a long time and it's very expensive. How do
you view the increased interest in recent years in nuclear
power as a threat to your business?
Speaker 4 (03:18):
I think that natural gas is the clear winner right now.
This has been a big question that people have been
asking over the last call it eighteen months. What is
going to power this AI revolution? What was originally thought
to be renewable is going to pick this up? Then
people went to nuclear and realize it's going to take
too long to get it done. Comes back to natural gas. Why,
because we have the track record of scale and speed.
(03:39):
If you look over the last ten years, we've seen
natural gas power demand increase fourteen bcfday. So think about
how much we're planning on doing. We've done that with
natural gas. Now, longer term, we think nuclear is going
to be a great option. But understand this, natural gas
has a vehicle to become zero carbon, and that's why
we're spending a little bit of money today on carbon
(04:00):
capture that will enable natural gas to be the first
reliable affordable zero carbon energy solution.
Speaker 2 (04:07):
The world does not have that today, you know.
Speaker 3 (04:08):
Just like there's a big spend in AI and data centers,
there seems to be a big spend and that energy
to support it and what's needed. You have announced multiple
long term sales and purchase agreements, I think just in
the last few months. Some are fearing an oversupply to
be in twenty twenty seven twenty twenty nine. What are
you hearing from LERG buyers about kind of your demand
visibility window and how confident are you. It sounds like
(04:30):
you're pretty confident on a longer term pull for LERG
or us LG specifically.
Speaker 4 (04:34):
Yeah, on the energy front, we certainly wouldn't disagree. We
do see a little bit of an oversupply situation globally
for energy that could lead to software prices in that
twenty seven to twenty nine time frame that you mentioned.
And you say, well, Tob, why did you just go
and sign up for a massive amount of energy. It's
because our contracts are going to be starting. We're going
to be getting that exposure in twenty thirty, so this
(04:56):
oversupply will pass and then we're back to a tight
situation and that's where energy is hitting the market. When
you want to talk about demand, just step back and
look at this world. For a world that's going to
continue to care about climate and emissions, replacing the coal
in this world is going to require an additional one
hundred and seventy BCF a day of natural gas. If
you care about the people living on this planet, it's
(05:17):
going to take an additional one hundred and twenty BC
other day.
Speaker 3 (05:20):
Sure are you that people care about that? We are
certainly feeling this year a pushback well when it comes
to concerns about carbon emissions and climate. Yeah, there's not
from everyone, and I have to be very careful because
there's a lot of folks that are working really hard
on this area.
Speaker 2 (05:34):
Yeah, but how Yeah, the confident and comfortable are on
the energy transition.
Speaker 4 (05:38):
There's a ton of people that are passionate about this,
and that passion is not going to go away with
just one election. But I think what is happening now
is people are stepping back and they're looking at the
plans they put in place, and they're looking at the
results of those plans. And what we're seeing is that
Americans energy bills are up over thirty five percent. Now,
renewables is not to blame for all of that. We've
(05:58):
had a massive infrastructure cancelation movement that's prevented us from
getting energy infrastructure built. That's the root cause of this issue.
But when you step back and look at how much,
how big of an impact this has had. We spent
over two trillion dollars on renewables last year, and put
that in perspective, we spent over one point three billion
dollars in oil and gas the energy solution that provides again, yeah,
(06:22):
two trillion dollars in renewables. Who what do you mean?
Speaker 2 (06:24):
We spent the world invested over two trillion dollars.
Speaker 4 (06:27):
In renewables built out and yeah, and then for comparison,
oil and gas investments that provides over eighty percent of
the world's energy, we invested over one point three trillion dollars.
Speaker 2 (06:39):
So this has been a very big theme. But it's
coming out.
Speaker 3 (06:42):
Show to you that people are this is the future's renewables.
That's where they're spending money. Is that what you're saying?
Speaker 4 (06:48):
If you went by where people were spending money, that
does not necessarily mean what's going to be the future.
The future of energy is going to be the energy
solution that is affordable, reliable, and clean and has all
three of those attu in check. I think the energy
transition maybe has prioritized the clean aspects of energy. But
as we're seeing right now, Americans are scratching their heads
(07:08):
looking to see the record amounts of energy investments that
we're making and the record amounts of energy production in
this country, and their energy bills are up thirty five percent.
They're scratching their heads. Why is this happening. It's because
the solutions that we're putting on the field need to
be the right solutions, and that is natural gas.
Speaker 1 (07:24):
But it's also because, as you said, the demand has
gone up. For years, it was kind of flat, it
was stable, and then we saw this huge increase in
demand for power here in the US. So demand has
a lot to do with it too.
Speaker 4 (07:34):
Well. Demand hasn't really started to pick up just yet.
We're coming out of it. I think we're looking at
massive growth prospects. But this really is a repercussion from
all of the not under investment in reliable infrastructure over
the past decade now this country, in America, since twenty eighteen,
it's become almost impossible to get a pipeline built in
(07:56):
this country. We own an asset called Mountain Valley Pipeline.
Took an Act of Congress to get that pipeline built.
So infrastructure has been incredibly challenged, and that is really
strained markets and really put some stress on the system.
Speaker 1 (08:08):
So let's talk about those challenges. Are you having constructive
conversations or are you having any conversations with the Trump
administration representatives from the Trump administration to try to ease
those regulatory delays.
Speaker 4 (08:17):
So this administration truly understands how important affordable and reliable
is in the energy equation. You know, Secretary right fabulous
really understands energy, all forms of energy. So I think
we're going to have some practical approach towards energy solutions
that we put in place. But that being said, the
executive branch is not going to dictate the types of
(08:39):
energy that we put in this country. We're going to
need Congress to act to pass meaningful permit reform so
we can get back to letting the most cost effective, reliable,
cleanest form of energy.
Speaker 1 (08:49):
Do you consider wind power a form of energy?
Speaker 2 (08:51):
Absolutely?
Speaker 1 (08:51):
It doesn't seem like this administration supports that.
Speaker 4 (08:54):
Yeah, I mean, was that a mistake, Well, I would
say it's as a as a sponsor of a pipeline,
mount value pipeline has been subjective to tremendous political force.
This is a situation where I think we would be
in a much better place if we would let market
forces dictate the energy that makes its way to the
playing field, let political force take the back seat. Unfortunately,
(09:14):
we are going to need some help from our leaders
in Washington, DC. I hope they notice that we've got
a massive demand surge coming. We do not have the
right infrastructure set up right now. We need to do
a massive build out. And just for people to understand
the race that we're in right now, this is a
national security threat for US. We have got to win
the race for AI. And right now, how we're faring
in the US where we put in six gigawatts of
(09:36):
reliable power generation this last year China put over sixty
of gigawatts of reliable power gen most of that call,
so we are not keeping pace. We need to do
a lot more.
Speaker 2 (09:47):
Just want to go back to.
Speaker 3 (09:48):
Cost just because it's cheap, and I understand there's other
parameters that you're putting in there. I mean, there are
net gas, there are leaks and so on and so
forth that do impact the environment. So it's not the
cleanest and purest. There are problems with it. And I
just wonder if we're always constantly chasing the cheapest thing
out there that's not necessarily a good thing. And just
(10:08):
bring up all the manufacturing that we've put outside the
United States just because it was a cheaper good that
we're finding maybe that wasn't such a good strategy. So
I just want to bring that back to the energy
sector that maybe sometimes things have to be expensive to
get to a really, really smart solution.
Speaker 4 (10:24):
I think we need to take a holistic approach when
we're looking at energy, and we need to look at
the balance between cost, reliability, and the carbon footprint associated
with that energy. That's why when we look at those
attributes for natural gas, that's why we believe that this
is the energy solution of the future. When you look
at regions that ignore and just over prioritize the clean
aspects of energy, you have situations like Europe, and we've
(10:47):
seen what's happened there.
Speaker 2 (10:49):
It's been a crisis.
Speaker 4 (10:50):
Thank goodness for American America and the energy that we've
been able to provide them to get them through this
with our LERG.
Speaker 2 (10:56):
So it's got to be a balanced approach.
Speaker 4 (10:57):
It's not all going to be about cost, it's not
all going to be about reliability or carbon footprint. It's
got to be a healthy balance of three. Right now,
we need to get back to the affordable, reliable.
Speaker 3 (11:07):
Speaking of balance, and I just want to go to
your balance sheet because there is a spend right everybody's
doing it because they are chasing this AI spend and
trying to be there in terms of support. You guys
have talked about working down to a twenty twenty six
year in debt target of five billion. I think that
was after the Equatransdale tell us about what you're considering
to help prop up your balanchet and just got about
thirty seconds, three.
Speaker 4 (11:27):
Seconds out thirty thirty thirty seconds. I'll tell you what
our priority, What our priorities are right now. Insure the
reliable production of energy. Right now, we produce a little
bit over a million barrels a day of energy.
Speaker 3 (11:37):
So anything that you need to do to meet that,
We're not worried about the spend.
Speaker 2 (11:40):
For maintenance volumes levels.
Speaker 4 (11:42):
We're going to be reliably providing the future by signing
up these growth contracts, both on energy and the data
sat to build out and from a cleanliness perspective. We've
already made the investments and we've already slashed our methane emissions.
We've got one of the best environmental programs that.
Speaker 3 (11:57):
Sounds like the spend and the Debt's okay for now. Yes,
I'm going to leave with there. Toby Rice, Presidents CE
of Equal e q T
Speaker 4 (12:06):
MHM
Hosts And Creators
Tim Stenovec
Carol Massar
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