EQT Corporation
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| File:EQT logo.jpg | |
| Company type | Public company |
|---|---|
| NYSE: EQT S&P 500 Component | |
| Industry | Petroleum industry |
| Founded | 1888 |
| Founder | Michael and Obediah Haymaker |
| Headquarters | EQT Plaza Pittsburgh, Pennsylvania, United States |
Key people | David L. Porges , Chairman & CEO Philip P. Conti, CFO[1] |
| Products | Petroleum Natural gas Natural gas liquids |
| Revenue |  US$2.340 billion (2015)[1] |
| US$85.171 million (2015)[1] | |
| US$85.171 million (2015)[1] | |
| Total assets |  US$13.976 billion (2015)[1] |
| Total equity | US$8.028 billion (2015)[1] |
Number of employees | 1,914 (2015)[1] |
| Website | www |
EQT Corporation is a petroleum and natural gas exploration and pipeline company headquartered in EQT Plaza in Pittsburgh, Pennsylvania.
Current operations
EQT Production
EQT Production is one of the largest natural gas producers in the Appalachian Basin with 10.0 trillion cubic feet equivalent of proved natural gas, natural gas liquids, and petroleum reserves across approximately 3.4 million gross acres, including approximately 630,000 gross acres in the Marcellus Shale, as of December 31, 2015. Of the company's total proved reserves, 78% are located in the Marcellus Shale.[1]
Average daily production in 2015 was 1,652 million cubic feet of natural gas equivalent.[1]
EQT Midstream
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.
EQT Midstream Partners, LP owns or operates 8,250 miles of gathering lines and 243 compressor units comprising 125 compressor stations with approximately 256,000 horsepower of installed capacity. In addition, EQM also owns 18 natural gas storage reservoirs with nearly 660 MMcf per day of peak delivery capability with 47 Bcf of working gas capacity.[1]
Philanthropy
The affiliated EQT Foundation has donated more than $15 million to charitable and philanthropic endeavors.[2]
History
In 1884, Michael and Obediah Haymaker struck gas outside of Pittsburgh, PA.[3]
In 1888, Equitable Gas Company was incorporated as a subsidiary of Philadelphia Company. [4]
In 1950, the company separated from the Philadelphia Company and listed on the New York Stock Exchange[5]
In 1984, the company changed its corporate name to Equitable Resources, Inc.[6]
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.[7]
In 1997, the company acquired Northeast Energy Services Co. (NORESCO) for $77 million.[8]
In 1997, the company also acquired offshore oil and gas fields from Chevron for $80.6 million.[9]
In 2000, the company acquired Appalachian wells and reserves from Statoil.[10]
In 2008, the company was added to the S&P 500 Index.[11]
In 2009, the company changed its name from Equitable Resources, Inc. to EQT Corporation.[12]
In 2011, EQT opened one of the first compressed natural gas (CNG) fueling stations in the Strip District of Pittsburgh.[13][14]
In 2013, the company sold its natural gas distribution business to Peoples Natural Gas for $740 million.[15]
External links
References
- ^ a b c d e f g h i j EQT Corporation 2015 Form 10-K Annual Report
- ^ "EQT – The EQT Foundation". Retrieved 10 January 2012.
- ^ "Natural Gas is King in Pittsburgh".
- ^ "Equitable Resources, Inc. History".
- ^ David A. Waples (26 April 2012). "The Natural Gas Industry in Appalachia: A History from the First Discovery to the Tapping of the Marcellus Shale".
- ^ "Equitable Resources – Company History". Retrieved 5 January 2012.
- ^ "School News". Pittsburgh Post-Gazette. 21 June 1995.
- ^ "Equitable Resources pays $77 million for NORESCO". Pittsburgh Business Times. 19 May 1997.
- ^ "EQUITABLE RESOURCES IN $80.6 MILLION DEAL WITH CHEVRON". New York Times. 15 October 1997.
- ^ "Equitable Resources to Acquire Exploration & Production Assets of Statoil Energy" (PDF). PRNewswire. 3 January 2000.
- ^ "Standard & Poor's Announces Changes to U.S. Indices". PRNewswire. 11 December 2008.
- ^ "Equitable Resources, Inc. Becomes EQT". 4 February 2009.
- ^ "EQT – Press Release July 19, 2011" (PDF). Retrieved 10 January 2012.
- ^ "Pittsburgh Business Times – Giant Eagle CNG station opens for business". Retrieved 10 January 2012.
- ^ "EQT Closes Gas Utility Sale". PRNewswire. 17 December 2013.
