EQT Corporation
EQT is a vertically integrated natural gas company and the largest producer of natural gas in the United States, primarily operating in the Appalachian Basin. The company leverages a 'combo-development' strategy to maximize operational efficiency and generate durable free cash flow across commodity cycles. Its business model integrates upstream exploration and production with extensive gathering and transmission infrastructure to serve power generation, industrial consumption, and global LNG markets.
Financials
Based on Q1 2026 filing
Revenue
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Upstream
primaryFocuses on the exploration, development, and production of natural gas, natural gas liquids (NGLs), and oil. Operations are concentrated in the Marcellus and Utica Shales across Pennsylvania, West Virginia, and Ohio.
Natural Gas, Natural Gas Liquids (NGLs), Crude Oil
Marketers, Utilities, Industrial customers, LNG exporters
Gathering
majorOperates a network of pipelines and compression units that transport natural gas from the wellhead to transmission systems or processing facilities. This segment provides services to both the company's own upstream operations and third-party producers.
Natural gas gathering services, Natural gas processing
Internal upstream operations, Third-party natural gas producers
Transmission
moderateManages high-pressure pipeline systems and underground storage reservoirs for the interstate movement of natural gas. It includes significant equity investments in major pipeline projects like the Mountain Valley Pipeline.
Natural gas transmission services, Natural gas storage services
Local distribution companies, Natural gas marketers, Commercial and industrial users, Electric power generators
Segment Financials
Upstream — Exploration
View metricUpstream — Oil and gas producing properties
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View metricTransmission — Oil and gas producing properties
View metricTransmission — Total capital expenditures
View metricTransmission — Depreciation, depletion and amortization
View metricBusiness Overview
Competitive Position
The company is the leading low-cost, large-scale integrated natural gas producer in the United States with a multi-decade inventory of core drilling locations.
Geographies
United States, Appalachian Basin, Pennsylvania, West Virginia, Ohio
Customer Segments
Utilities, Industrial enterprises, Energy marketers
Upstream Dependencies
Oilfield service providers, Drilling rig operators, Hydraulic fracturing sand suppliers, Water management services
Downstream Customers
Electric utility companies, Industrial manufacturing plants, LNG liquefaction facilities, Local gas distribution companies
Competitors & Partners
Competitors
Similar Companies
Partners
MPLX
MPLX
Third-party midstream provider for NGL processing and extraction
Williams Companies
WMB
Third-party midstream provider for NGL processing
Blue Racer Midstream
Third-party midstream provider for NGL processing
Mountain Valley Pipeline, LLC
Joint venture for the construction and operation of the Mountain Valley Pipeline
Subsidiaries
EQT Energy, LLC
Indirect, wholly owned marketing and risk management subsidiary
Olympus Energy
Acquired upstream asset entity
EQT Corporation FAQ
Common questions about EQT Corporation
EQT is a vertically integrated natural gas company and the largest producer of natural gas in the United States, primarily operating in the Appalachian Basin. The company leverages a 'combo-development' strategy to maximize operational efficiency and generate durable free cash flow across commodity cycles. Its business model integrates upstream exploration and production with extensive gathering and transmission infrastructure to serve power generation, industrial consumption, and global LNG markets.
EQT Corporation (EQT) has a market capitalization of $35.4B and trades on NYSE.
EQT Corporation generated $10.3B in trailing twelve-month revenue with net income of $3.3B, representing a net margin of 31.9%. Gross margin stands at 84.9%, with free cash flow of $4.1B. These figures are based on the Q1 2026 filing.
EQT Corporation's key competitors include Antero Resources, Range Resources, Oneok, Inc., and others. These companies compete in similar markets and product categories.
EQT Corporation has approximately 881 employees.