EQT


EQT Corporation is a company engaged in hydrocarbon exploration and pipeline transport. It is headquartered in EQT Plaza in Pittsburgh, Pennsylvania.
EQT is the largest natural gas producer in the Appalachian Basin with 17.469 trillion cubic feet equivalent of proved reserves across approximately 1.3 million gross acres, including approximately 1.1 million gross acres in the Marcellus Formation, as of December 31, 2019. Of the company's total proved reserves, 88% are located in the Marcellus Formation and 95% are natural gas.
Via its interest in EQGP Holdings, LP, the company owns a controlling interest in EQT Midstream Partners, LP. EQM owns and operates midstream assets in the Appalachian Basin and provides water services that support well completion activities and collects and recycles or disposes of flowback and produced water.

History

In 1884, Michael and Obediah Haymaker struck gas outside of Pittsburgh, PA.
In 1888, Equitable Gas Company was incorporated as a subsidiary of Philadelphia Company.
In 1950, the company separated from the Philadelphia Company and listed on the New York Stock Exchange
In 1984, the company changed its corporate name to Equitable Resources, Inc.
In 1995, the company offered the first fixed bill energy contract in U.S. where what a customer pays for energy is fixed no matter what the weather does.
In 1997, the company acquired Northeast Energy Services Co. for $77 million.
In 1997, the company also acquired offshore oil and gas fields from Chevron Corporation for $80.6 million.
In 2000, the company acquired Appalachian wells and reserves from Statoil.
In 2008, the company was added to the S&P 500 Index, but it was removed from the index in 2018.
In February 2009, the company changed its name from Equitable Resources, Inc. to EQT Corporation.
In 2011, EQT opened one of the first compressed natural gas fueling stations in the Strip District of Pittsburgh.
In 2011, David L. Porges became chief executive officer of the company.
In 2013, the company sold its natural gas distribution business to Peoples Natural Gas for $740 million.
In March 2017, Steven Schlotterbeck became chief executive officer of the company. He resigned in March 2018.
In November 2017, the company acquired Rice Energy.
In November 2018, the company completed the corporate spin-off of Equitrans Midstream.
In July 2019, Toby Rice became chief executive officer of the company.
In January 2020, David Khani became chief financial officer of the company.