What is EQT Corporation's upstream — exploration?

EQT Corporation (EQT) reported upstream — exploration of $430K in Q1 2026.

How has EQT Corporation's upstream — exploration changed year-over-year?

EQT Corporation's upstream — exploration decreased by 59.1% year-over-year, from $1.05M to $430K.

What does upstream — exploration mean?

Expenditures related to geological and geophysical studies, exploratory drilling, and the pursuit of new reserves. These costs are essential for replacing production and growing the asset base. This metric highlights the company's commitment to long-term reserve replacement.

EQT Corporation EQT Upstream — Exploration

Other segment segments

Gathering

$0—

Transmission

$0—

Similar metrics at other companies

IMOUpstream — Exploration Expense

300,000,000%+100,000,000pp

IMOUpstream — Capital and exploration expenditures

$362M+36.1%

IMODownstream — Exploration Expense

0%—

CVXUpstream — Property, Plant and Equipment, Additions

$22.55B+543%

XOMExploration expenses

$126M+96.9%

IMODownstream — Capital and exploration expenditures

$91M+3.4%

Other financials

Income statement

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Revenue$3.4B+94.2%

Gross profit$3.0B+119%

Operating income$2.0B+310%

Net income$1.5B+514%

EPS (diluted)$2.36+490%

Balance sheet

See full

Cash & equivalents$326.6M+15.9%

Total debt$6.0B-28.6%

Total equity$25.1B+21.2%

Total assets$41.7B+5.0%

Cash flow

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Operating cash flow$3.1B+75.5%

CapEx$598.5M+19.8%

Free cash flow$2.5B+97.9%

Valuation

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Market cap$32.96B-8.7%

Enterprise value$38.63B-12.0%

P/E10×-21.5×

P/S3.2×-1.8×

Profitability

See full

Gross margin84.9%+16.1pp

Operating margin46.6%+28.7pp

Net margin31.9%+25.3pp

FCF margin39.4%—

Returns & leverage

See full

Return on equity14.3%+12.3pp

Debt / equity0.2×-0.2×

Current ratio0.7×+0.1×

Where this comes from

Reported directly by EQT Corporation in its filing.

Tagged under the XBRL concept us-gaap:ExplorationExpense.

The official record: EQT Corporation’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is EQT Corporation's upstream — exploration?: EQT Corporation (EQT) reported upstream — exploration of $430K in Q1 2026.
How has EQT Corporation's upstream — exploration changed year-over-year?: EQT Corporation's upstream — exploration decreased by 59.1% year-over-year, from $1.05M to $430K.
What does upstream — exploration mean?: Expenditures related to geological and geophysical studies, exploratory drilling, and the pursuit of new reserves. These costs are essential for replacing production and growing the asset base. This metric highlights the company's commitment to long-term reserve replacement.