EQT Corporation is one of America’s major natural gas producers, based in Pittsburgh, Pennsylvania.
It is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘EQT’.
The company operates in five states and is a technology-driven leader in the integration of air and horizontal drilling.
EQT has two main business segments: EQT Production and EQT Midstream.
EQT Production – the company’s fastest growing business unit. It has operated in the Appalachian Basin for over 100 years. It has around 3.6 million gross acres, including approximately 580,000 gross acres in the Marcellus play; more than 14,600 gross productive wells and 8.3 trillion cubic feet equivalent of proved reserves; and an estimated 36.4 Tcfe of 3P reserves.
EQT Midstream – focuses on providing gathering, transmission and storage services to EQT Production and to independent third parties. It owns or operates approximately 11,000 miles of gathering lines and 243 compressor units.
EQT opened one of the first compressed natural gas (CNG) fueling stations in the Strip District in Pittsburgh in 2011.
EQT Corporation – Live Stock Market Data
EQT Corporation – Overview
- Chairman, President and CEO: David L. Porges
- CFO: Philip P. Conti
- Type: Public
- Industry: Oil and Gas
- Publicly listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: EQT
- S&P 500 Component
- Revenue: $1.862 billion USD (2013)
- Net income:$437 million USD (2013)
- Diluted earnings per share: $2.57 USD (2013)
- Employees: 1,621 (2013)
- Corporate headquarters: 625 Liberty Avenue, Pittsburgh, Pennsylvania, USA
- Corporate contact number: (412) 553-5700
- Website: https://www.eqt.com
EQT Corporation – Financial Results
| Operating data (in $ thousands) | 2013 | 2012 |
| Operating revenues | $1,862,011 | $1,377,222 |
| Total operating expenses | $1,227,025 | $987,593 |
| Operating income | $654,604 | $389,629 |
| Other income | $9,242 | $15,536 |
| Income from continuing operations | $345,972 | $148,918 |
| Income from discontinued operations, net of tax | $91,843 | $47,493 |
| Net income | $437,815 | $196,411 |
| Net income attributable to noncontrolling interests | $47,243 | $13,016 |
| Net income attributable to EQT Corporation | $390,572 | $183,395 |
| Comprehensive income attributable to EQT Corporation | $335,728 | $94,801 |
| Balance sheet data (in $ thousands) | ||
| Total assets | $9,792,053 | $8,849,862 |
| Total liabilities | $4,927,925 | $4,961,060 |
| Total stockholders’ equity | $4,034,788 | $3,603,820 |
| Cash flow data (in $ thousands) | ||
| Net cash provided by operating activities | $1,200,398 | $808,473 |
| Net cash used in investing activities | $(1,037,312) | $(1,382,149) |
| Net cash provided by (used in) financing activities | $500,500 | $(75,520) |
| Cash and cash equivalents at end of period | $845,641 | $182,055 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $2.59 | $1.23 |
| Diluted earnings (loss) per common share | $2.57 | $1.22 |
Source: “EQT Corporation 2013 Annual Report”