Type Public company CEO Steven Schlotterbeck Founded 1888 Total equity 9.119 billion USD (2016) | Industry Petroleum industry Revenue 1.608 billion USD (2016) Total assets 15.47 billion USD (2016) | |
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Traded as NYSE: EQT
S&P 500 Component Founder Michael and Obediah Haymaker Key people David L. Porges , Chairman & CEO
Philip P. Conti, CFO Products Petroleum
Natural gas
Natural gas liquids Headquarters Pittsburgh, Pennsylvania, United States Subsidiaries Equitrans, LP, Trans Energy Profiles | ||
Company profile eqt corporation nyse eqt
EQT Corporation is a petroleum and natural gas exploration and pipeline company headquartered in EQT Plaza in Pittsburgh, Pennsylvania.
Contents
EQT Production
EQT Production is one of the largest natural gas producers in the Appalachian Basin with 13.508 trillion cubic feet equivalent of proved natural gas, natural gas liquids, and petroleum reserves across approximately 3.6 million gross acres, including approximately 790,000 gross acres in the Marcellus Shale, as of December 31, 2016. Of the company's total proved reserves, 83% are located in the Marcellus Shale.
Average daily production in 2016 was 2,074 million cubic feet of natural gas equivalent.
EQT Production also owns 6,550 miles of gathering lines and 18 natural gas storage reservoirs with nearly 645 MMcf per day of peak delivery capability with 43 Bcf of working gas capacity.
EQT Midstream Partners, LP
Via its interest in EQT GP Holdings, LP (NYSE: EQGP), the company owns a controlling interest in EQT Midstream Partners, LP (NYSE: EQM). EQM owns and operates midstream assets in the Appalachian Basin.
Philanthropy
The affiliated EQT Foundation has donated more than $37 million to charitable and philanthropic endeavors.
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. (NORESCO) for $77 million.
In 1997, the company also acquired offshore oil and gas fields from Chevron 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.
In 2009, the company changed its name from Equitable Resources, Inc. to EQT Corporation.
In 2011, EQT opened one of the first compressed natural gas (CNG) fueling stations in the Strip District of Pittsburgh.
In 2013, the company sold its natural gas distribution business to Peoples Natural Gas for $740 million.