EQT Corp., the largest U.S. natural gas producer, plans to take a fourth-quarter write-down of up to $1.8 billion.

Why it matters: EQT, which has major Appalachian operations, is the latest company to write down the value of U.S. assets amid a glut of supply and very low prices.

  • The plan disclosed in a regulatory filing on Monday comes after Chevron last month announced an $11 billion write-down that was also focused largely on Appalachian gas holdings.
  • Another big company, Range Resources, last week warned of a "significant non-cash impairment" related to holdings in Louisiana, and also said it planned to cut overall spending in 2020 by over $200 million.

The big picture: Via Natural Gas Intelligence, "Operators across Appalachia are expected to slash spending this year and curb output in the years ahead as prices are earthbound on a glut of natural gas."

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Fauci says White House effort to discredit him is "bizarre"

Photo: Joshua Roberts/Getty Images

Anthony Fauci told The Atlantic on Wednesday that efforts by certain White House officials to discredit him are "bizarre" and that it "ultimately hurts the president" to undermine a top health official in the middle of a pandemic.

Driving the news: Fauci's comments come on the heels of a USA Today op-ed by White House trade adviser Peter Navarro, who claimed that Fauci has been "wrong about everything" related to the coronavirus that the two have interacted on. Fauci told The Atlantic: “I can’t explain Peter Navarro. He’s in a world by himself.”

3 hours ago - Health

Oklahoma Gov. Kevin Stitt tests positive for coronavirus

Oklahoma Gov. Kevin Stitt. Photo: Alex Wong/Getty Images)

Oklahoma Gov. Kevin Stitt (R) announced on Wednesday he has tested positive for the coronavirus and will self-isolate, Tulsa World reports.

Why it matters: The 47-year-old Stitt is believed to be the first governor in the U.S. to test positive. He attended President Trump's rally in Tulsa last month, which the county's health department director said likely contributed to a surge in cases in the region.

Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2:30 p.m. ET: 13,397,167 — Total deaths: 580,388 — Total recoveries — 7,449,477Map.
  2. U.S.: Total confirmed cases as of 2:30 p.m. ET: 3,459,053 — Total deaths: 136,900 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. States: Alabama's GOP governor issues statewide mask mandate — Oklahoma Gov. Kevin Stitt tests positive.
  4. Politics: Fauci says White House effort to discredit him is "bizarre" — Trump says Navarro shouldn't have written op-ed attacking Fauci.