EQT

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This article is about the energy company. For the Swedish private investment firm, see EQT Partners.
EQT Corporation
Public company
Traded as NYSEEQT
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 Decrease US$2.340 billion (2015)[1]
Decrease US$85.171 million (2015)[1]
Decrease US$85.171 million (2015)[1]
Total assets Increase US$13.976 billion (2015)[1]
Total equity Increase US$8.028 billion (2015)[1]
Number of employees
1,914 (2015)[1]
Website www.eqt.com

EQT Corporation is a petroleum and natural gas exploration and pipeline company headquartered in EQT Plaza in Pittsburgh, Pennsylvania.

Current operations[edit]

EQT Production[edit]

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[edit]

Via its interest in EQT GP Holdings, LP (NYSEEQGP), the company owns a controlling interest in EQT Midstream Partners, LP (NYSEEQM). 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[edit]

The affiliated EQT Foundation has donated more than $15 million to charitable and philanthropic endeavors.[2]

History[edit]

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[edit]

http://preservethenrv.com/

References[edit]