EQT on NYSE
EQT HOLDINGS LIMITED
Australian public company1
In its 2026 annual report the company says: “We are a vertically integrated natural gas company with upstream, gathering and transmission operations focused in the Appalachian Basin. In addition, we own an investment in Series A of Mountain Valley Pipeline, LLC (MVP A), which owns the Mountain Valley Pipeline (MVP Mainline), a 303-mile-long pipeline that spans from Wetzel County, West Virginia to Pittsylvania County, Virginia.”7 It is headquartered in Gibraltar.1 Its shares trade on NYSE under the symbol EQT.1
$52.34 down 0.41 (0.77%)Price as of Oct 15, 2026 at 19:45 UTC
Last updated Oct 21, 2026.
Overview
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- TickerEQT on NYSE1
- IndustryCrude Petroleum & Natural Gas1
- HeadquartersGibraltar1
- Incorporated inPA5
- Business address2200 Energy Drive, Canonsburg, Pa 153175
- Filer categoryLarge accelerated filer5
- Legal formPrivate Limited Company3
- LEI254900ISXDIMUVJZVJ493
- StatusActive3
- LEI statusIssued and current3
- Registered address3 1A Parliament Lane, GX11 1AA Gibraltar, Gibraltar3
- Registered withCompanies House Gibraltar, 1183833
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We are a vertically integrated natural gas company with upstream, gathering and transmission operations focused in the Appalachian Basin. As of December 31, 2025, we had 28.0 Tcfe of proved natural gas, NGLs and oil reserves across approximately 2.3 million gross acres and approximately 2,945 miles of pipeline infrastructure. In addition, we own an investment in Series A of Mountain Valley Pipeline, LLC (MVP A), which owns the Mountain Valley Pipeline (MVP Mainline), a 303-mile-long pipeline that spans from Wetzel County, West Virginia to Pittsylvania County, Virginia.7 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
37.6%Operating margin8
23.6%Net margin8
63.9%Revenue growth, 20258
8.6%Return on equity8
0.31×Debt to equity8
$2.8BFree cash flow8
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Revenues From Contract With Customers brought in 35% of the revenue EQT HOLDINGS LIMITED broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenues From Contract With Customers | $5.1B | $5.2B | $8.3B |
| Oil and Gas | $5.0B | $4.9B | $7.7B |
| Sales Of Natural Gas, NGLs And Oil At Production | $5.0B | $4.9B | $7.7B |
Business segments
Upstream brought in 81% of the revenue EQT HOLDINGS LIMITED broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Upstream | $6.9B | $5.0B | $8.0B |
| Gathering | $161.4M | $766.5M | $1.3B |
| Transmission | $0 | $218.3M | $572.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue18¢$1.5B
- Selling, general and admin4¢$380.1M
- Other costs47¢$4.0B
- Income tax8¢$651.9M
- Profit24¢$2.0B
Out of $8.6B in revenue.8
Where each dollar of operating cash went, fiscal 2025
- Capital spending45¢$2.3B
- Dividends paid8¢$389.6M
- Kept or used elsewhere48¢$2.4B
Out of $5.1B of cash from operations.8
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.8
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Gain (loss) on derivatives | $291.0M | $51.1M | $1.8B |
| Total operating revenues | $8.6B | $5.3B | $6.9B |
| Transportation and processing | $1.5B | $1.9B | $2.2B |
| Production | $388.7M | $377.0M | $239.0M |
| Operating and maintenance | $225.1M | $110.4M | $15.7M |
| Exploration | $3.6M | $2.7M | $3.3M |
| Selling, general and administrative | $380.1M | $336.7M | $236.2M |
| Depreciation, depletion and amortization | $2.6B | $2.2B | $1.7B |
| (Gain) loss on sale/exchange of long-lived assets | -$31.2M | -$764.0M | $17.4M |
| Impairment and expiration of leases | $51.2M | $97.4M | $109.4M |
| Other operating expenses | $244.7M | $349.9M | $84.0M |
| Total operating expenses | $5.4B | $4.6B | $4.6B |
| Operating income | $3.2B | $685.3M | $2.3B |
| Income from investments | -$184.4M | -$76.0M | -$7.6M |
| Other income | -$4.8M | -$26.0M | -$1.2M |
| Loss on debt extinguishment | $22.7M | $68.3M | $80.0K |
| Interest expense, net | $438.7M | $454.8M | $219.7M |
| Income before income taxes | $3.0B | $264.2M | $2.1B |
| Income tax expense | $651.9M | $22.1M | $369.0M |
| Net income | $2.3B | $242.1M | $1.7B |
| Less: Net income (loss) attributable to noncontrolling interests | $286.4M | $11.5M | -$688.0K |
| Net income attributable to EQT Corporation | $2.0B | $230.6M | $1.7B |
| Weighted average common stock outstanding - Basic (in shares) | 611.6M shares | 509.6M shares | 380.9M shares |
| Net income attributable to EQT Corporation - Basic (in dollars per share) | $3.33 | $0.45 | $4.56 |
| Weighted average common stock outstanding - Diluted (in shares) | 615.7M shares | 514.6M shares | 413.2M shares |
| Net income attributable to EQT Corporation - Diluted (in dollars per share) | $3.31 | $0.45 | $4.22 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.8
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $110.8M | $202.1M | ||
| Accounts receivable (less allowance for credit losses: $3,088 and $12,529) | $1.5B | $1.1B | ||
| Derivative instruments, at fair value | $202.4M | $143.6M | ||
| Income tax receivable | $27.8M | $97.4M | ||
| Prepaid expenses and other | $96.3M | $139.0M | ||
| Total current assets | $1.9B | $1.7B | ||
| Property, plant and equipment | $48.5B | $44.5B | ||
| Less: Accumulated depreciation and depletion | $14.9B | $12.8B | ||
| Net property, plant and equipment | $33.6B | $31.7B | ||
| Investments in unconsolidated entities | $3.6B | $3.6B | ||
| Net intangible assets related to acquired transmission services agreements | $200.5M | $215.3M | ||
| Goodwill | $2.1B | $2.1B | ||
| Other assets | $446.4M | $455.6M | ||
| Total assets | $41.8B | $39.8B | $25.3B | |
| Current portion of debt | $507.1M | $320.8M | ||
| Accounts payable | $1.4B | $1.2B | ||
| Derivative instruments, at fair value | $137.3M | $446.5M | ||
| Accrued interest | $137.5M | $167.2M | ||
| Other current liabilities | $335.5M | $349.4M | ||
| Total current liabilities | $2.5B | $2.5B | ||
| Revolving credit facility borrowings | $360.0M | $150.0M | ||
| Senior notes | $6.9B | $8.9B | ||
| Deferred income taxes | $3.5B | $2.9B | ||
| Asset retirement obligations and other liabilities | $1.2B | $1.2B | ||
| Total liabilities | $14.4B | $15.6B | ||
| Common stock, no par value, shares authorized: 1,280,000, shares issued: 624,076 and 596,870 | $19.5B | $18.0B | ||
| Retained earnings | $4.2B | $2.6B | ||
| Accumulated other comprehensive loss | -$2.2M | -$2.3M | ||
| Total common shareholders' equity | $23.8B | $20.6B | ||
| Noncontrolling interest in consolidated subsidiaries | $3.6B | $3.7B | ||
| Total equity | $27.4B | $24.3B | $14.8B | $11.2B |
| Total liabilities and equity | $41.8B | $39.8B | ||
| Allowance for credit loss | $3.1M | $12.5M | ||
| Common stock, par value (in dollars per share) | $0 | $0 | ||
| Common stock, authorized (in shares) | 1.3B shares | 1.3B shares | ||
| Common stock, issued (in shares) | 624.1M shares | 596.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $110.8M | $202.1M | ||
| Accounts receivable (less allowance for credit losses: $3,088 and $12,529) | $1.5B | $1.1B | ||
| Derivative instruments, at fair value | $202.4M | $143.6M | ||
| Income tax receivable | $27.8M | $97.4M | ||
| Prepaid expenses and other | $96.3M | $139.0M | ||
| Total current assets | $1.9B | $1.7B | ||
| Property, plant and equipment | $48.5B | $44.5B | ||
| Less: Accumulated depreciation and depletion | $14.9B | $12.8B | ||
| Net property, plant and equipment | $33.6B | $31.7B | ||
| Investments in unconsolidated entities | $3.6B | $3.6B | ||
| Net intangible assets related to acquired transmission services agreements | $200.5M | $215.3M | ||
| Goodwill | $2.1B | $2.1B | ||
| Other assets | $446.4M | $455.6M | ||
| Total assets | $41.8B | $39.8B | $25.3B | |
| Current portion of debt | $507.1M | $320.8M | ||
| Accounts payable | $1.4B | $1.2B | ||
| Derivative instruments, at fair value | $137.3M | $446.5M | ||
| Accrued interest | $137.5M | $167.2M | ||
| Other current liabilities | $335.5M | $349.4M | ||
| Total current liabilities | $2.5B | $2.5B | ||
| Revolving credit facility borrowings | $360.0M | $150.0M | ||
| Senior notes | $6.9B | $8.9B | ||
| Deferred income taxes | $3.5B | $2.9B | ||
| Asset retirement obligations and other liabilities | $1.2B | $1.2B | ||
| Total liabilities | $14.4B | $15.6B | ||
| Common stock, no par value, shares authorized: 1,280,000, shares issued: 624,076 and 596,870 | $19.5B | $18.0B | ||
| Retained earnings | $4.2B | $2.6B | ||
| Accumulated other comprehensive loss | -$2.2M | -$2.3M | ||
| Total common shareholders' equity | $23.8B | $20.6B | ||
| Noncontrolling interest in consolidated subsidiaries | $3.6B | $3.7B | ||
| Total equity | $27.4B | $24.3B | $14.8B | $11.2B |
| Total liabilities and equity | $41.8B | $39.8B | ||
| Allowance for credit loss | $3.1M | $12.5M | ||
| Common stock, par value (in dollars per share) | $0 | $0 | ||
| Common stock, authorized (in shares) | 1.3B shares | 1.3B shares | ||
| Common stock, issued (in shares) | 624.1M shares | 596.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.8
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $2.3B | $242.1M | $1.7B |
| Deferred income tax expense | $657.8M | $14.7M | $384.7M |
| Depreciation, depletion and amortization | $2.6B | $2.2B | $1.7B |
| (Gain) loss on sale/exchange of long-lived assets | -$31.2M | -$764.0M | $17.4M |
| Impairments | $51.2M | $97.4M | $109.4M |
| Income from investments | -$184.4M | -$76.0M | -$7.6M |
| Loss on debt extinguishment | $22.7M | $68.3M | $80.0K |
| Share-based compensation expense | $60.8M | $158.3M | $49.8M |
| Distributions from equity method investments | $257.2M | $66.2M | $18.7M |
| Other | $15.1M | $15.1M | $16.9M |
| Gain on derivatives | -$291.0M | -$51.1M | -$1.8B |
| Net cash settlements (paid) received on derivatives | -$83.4M | $1.2B | $900.6M |
| Net premiums paid on derivatives | -$44.8M | -$42.4M | -$322.7M |
| Accounts receivable | -$353.5M | -$220.4M | $867.7M |
| Accounts payable | $207.1M | $16.5M | -$406.1M |
| Income tax receivable and payable | $73.0M | -$7.9M | -$5.1M |
| Other current assets | $45.2M | -$77.3M | $98.9M |
| Other items, net | -$201.9M | $7.4M | -$171.7M |
| Net cash provided by operating activities | $5.1B | $2.8B | $3.2B |
| Capital expenditures | -$2.3B | -$2.3B | -$2.0B |
| Cash paid for acquisitions, net of cash acquired | -$483.5M | -$874.3M | -$2.3B |
| Net cash received for sale/exchange of assets | $10.2M | $1.7B | $4.2M |
| Capital contributions to equity method investments | -$82.9M | -$148.0M | -$12.1M |
| Other investing activities | -$245.0K | -$80.0K | -$14.8M |
| Net cash used in investing activities | -$2.8B | -$1.6B | -$4.3B |
| Proceeds from revolving credit facility borrowings | $3.5B | $6.9B | $1.0B |
| Repayment of revolving credit facility borrowings | -$3.6B | -$7.5B | -$1.0B |
| Proceeds from issuance of debt | $0 | $750.0M | $1.2B |
| Proceeds from net settlement of Capped Call Transactions (Note 7) | $0 | $93.3M | $0 |
| Debt issuance costs | -$9.6M | -$18.9M | -$5.3M |
| Repayment and retirement of debt | -$1.4B | -$4.3B | -$1.0B |
| Net (premiums paid) discounts received on debt extinguishment | -$39.3M | -$52.4M | $5.2M |
| Dividends paid | -$389.6M | -$326.6M | -$228.3M |
| Repurchase and retirement of common stock | $0 | $0 | -$201.0M |
| Net proceeds from the sale of units of the Midstream Joint Venture (Note 9) | -$1.1M | $3.4B | $0 |
| Net distributions to noncontrolling interest | -$359.7M | -$1.6M | -$7.3M |
| Cash paid for taxes to net settle share-based incentive awards | -$54.2M | -$102.9M | -$41.8M |
| Other financing activities | -$6.3M | $889.0K | $1.6M |
| Net cash used in financing activities | -$2.4B | -$1.1B | -$242.9M |
| Net change in cash and cash equivalents | -$91.3M | $121.1M | -$1.4B |
No quarter-by-quarter statement was filed.
Corporate structure
EQT HOLDINGS LIMITED sits at the top of its group. 231 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of EQT HOLDINGS LIMITED
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on EQT HOLDINGS LIMITED, latest Apr 29, 2026
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on EQT HOLDINGS LIMITED, latest Apr 29, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on EQT HOLDINGS LIMITED, latest Mar 26, 2026 (6 filings since Feb 10, 2022)
- Wellington Management Company Filed SCHEDULE 13G/A on EQT HOLDINGS LIMITED, latest Feb 10, 2026 (5 filings since May 6, 2024)
- PRICE T ROWE ASSOCIATES INC /MD/ Filed SCHEDULE 13G/A on EQT HOLDINGS LIMITED, latest Aug 14, 2025 (7 filings since Nov 10, 2021)
- BlackRock Filed SCHEDULE 13G/A on EQT HOLDINGS LIMITED, latest Jul 17, 2025 (8 filings since Jan 25, 2022)
- State Street Corporation Filed SCHEDULE 13G on EQT HOLDINGS LIMITED, latest May 13, 2025 (3 filings since Feb 6, 2023)
- Q-XcL Holdings I (VI) Investment Partners, LLC Filed SC 13G/A on EQT HOLDINGS LIMITED, latest Oct 9, 2024 (3 filings since Aug 30, 2023)
- FMR LLC Filed SC 13G/A on EQT HOLDINGS LIMITED, latest Feb 9, 2024 (3 filings since Feb 9, 2022)
- The Bank of New York Mellon Filed SC 13G/A on EQT HOLDINGS LIMITED, latest May 10, 2022 (2 filings since Feb 2, 2022)
- EQT HOLDINGS LIMITED Gibraltar, Gibraltar
- Midstream Co LLC Stake · Pittsburgh, Pennsylvania
- EQUITY TRUSTEES LIMITED Subsidiary · 100% · Melbourne, Australia
- EQT AUSTRALIA PTY LTD Subsidiary · 100% · Melbourne, Australia
- EQT RESPONSIBLE ENTITY SERVICES LTD Subsidiary · 100% · Melbourne, Australia
- AHI DEFINED RETURNS FUND Fund · Melbourne, Australia
- ALC ACTIVE INTERNATIONAL EQUITIES FUND Fund · Melbourne, Australia
- Alexander Credit Income Fund Fund · Melbourne, Australia
- ALLSPRING EMERGING MARKETS EQUITY FUND Fund · Melbourne, Australia
- ARDEVORA GLOBAL SHARES FUND Fund · Melbourne, Australia
- BLACKWATTLE LONG-SHORT 130/30 QUALITY FUND Fund · Melbourne, Australia
- BNP PARIBAS C WORLDWIDE GLOBAL EQUITY TRUST (HEDGED) Fund · Melbourne, Australia
- COLCHESTER GREEN BOND FUND Fund · Melbourne, Australia
- CONTRARIUS GLOBAL BALANCED FUND (AUSTRALIA REGISTERED) Fund · Melbourne, Australia
- CONTRARIUS GLOBAL EQUITY FUND (AUSTRALIA REGISTERED) Fund · Melbourne, Australia
- DENT SECTOR FUND Fund · Melbourne, Australia
- EFM NEXGEN FUND Fund · Melbourne, Australia
- FIA INSTITUTIONAL GLOBAL EQUITY FOCUSED FUND Fund · Melbourne, Australia
- HEJAZ EQUITIES FUND (MANAGED FUND) Fund · Melbourne, Australia
- HEJAZ GLOBAL ETHICAL FUND Fund · Melbourne, Australia
- L1 CAPITAL UK RESIDENTIAL PROPERTY FUND III Fund · Melbourne, Australia
- LAKEHOUSE GLOBAL GROWTH FUND Fund · Melbourne, Australia
- LDI CONNECT 20 PORTFOLIO Fund · Melbourne, Australia
- LDI CONNECT 3 PORTFOLIO Fund · Melbourne, Australia
- LDI CONNECT 7 PORTFOLIO Fund · Melbourne, Australia
- LGT MULTI-ALTERNATIVES AUSTRALIA FUND Fund · Melbourne, Australia
- MAGNETAR RELATIVE VALUE FUND Fund · Melbourne, Australia
- MILFORD DYNAMIC SMALL COMPANIES FUND Fund · Melbourne, Australia
- and 145 more
- EQUITY TRUSTEES WEALTH SERVICES LIMITED Subsidiary · 100% · Melbourne, Australia
- EQM Gathering Holdings, LLC Subsidiary · Delaware, United States
- EQM Gathering Opco, LLC Subsidiary · Delaware, United States
- EQM GP Corporation Subsidiary · Delaware, United States
- EQM Midstream Partners, LP Subsidiary · Delaware, United States
- EQM Olympus Midstream LLC Subsidiary · Delaware, United States
- EQT AMD LLC Subsidiary · Delaware, United States
- EQT AMM LLC Subsidiary · Delaware, United States
- EQT ARO LLC Subsidiary · Delaware, United States
- EQT Artemis Midstream LLC Subsidiary · Delaware, United States
- EQT Artemis Production LLC Subsidiary · Delaware, United States
- EQT Aurora LLC Subsidiary · Pennsylvania, United States
- EQT Capital Corporation Subsidiary · Delaware, United States
- EQT Carbon Services LLC Subsidiary · Delaware, United States
- EQT CHAP LLC Subsidiary · Pennsylvania, United States
- EQT CNEU LLC Subsidiary · Delaware, United States
- EQT Commodities HoldCo LLC Subsidiary · Delaware, United States
- EQT Energy, LLC Subsidiary · Delaware, United States
- EQT Gathering, LLC Subsidiary · Pennsylvania, United States
- EQT Homer City Opco LLC Subsidiary · Delaware, United States
- EQT Investments Holdings, LLC Subsidiary · Delaware, United States
- EQT LNG HoldCo LLC Subsidiary · Delaware, United States
- EQT LNG Investments LLC Subsidiary · Delaware, United States
- and 35 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.
What it owns
What EQT HOLDINGS LIMITED reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $48.5B8 Dec 31, 2025 | $44.5B8 Dec 31, 2024 | +8.9% |
| Accumulated depreciation | $14.9B8 Dec 31, 2025 | $12.8B8 Dec 31, 2024 | +16.9% |
| Property and equipment, net | $33.6B8 Dec 31, 2025 | $31.7B8 Dec 31, 2024 | +5.7% |
| Finance-lease assets | $35.6M8 Dec 31, 2025 | $34.8M8 Dec 31, 2024 | +2.4% |
| Operating-lease assets (leased space) | $74.1M8 Dec 31, 2025 | $60.5M8 Dec 31, 2024 | +22.5% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $110.8M8 Dec 31, 2025 | $202.1M8 Dec 31, 2024 | −45.2% |
| Stakes in other companies (equity method) | $3.6B8 Dec 31, 2025 | $3.6B8 Dec 31, 2024 | +0.4% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $2.1B8 Dec 31, 2025 | $2.1B8 Dec 31, 2024 | −0.8% |
| Intangible assets, net (excluding goodwill) | $215.3M12 Dec 31, 2024 | $22.6M12 Dec 31, 2023 | +852.7% |
| Finite-lived intangibles, net | $200.5M8 Dec 31, 2025 | $215.3M8 Dec 31, 2024 | −6.9% |
Properties, in its own words
See Item 1., "Business" for a description of our properties. Our corporate headquarters is located in leased office space in Pittsburgh, Pennsylvania. We also own or lease office space in Pennsylvania, Washington D.C., West Virginia, Ohio and Texas.
Item 2 of the 10-K filed Feb 18, 2026.7
Leadership
Who has led EQT HOLDINGS LIMITED, and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
Chief operating officer
20052010201520202025
- Chief executive officerToby Z. Rice Jul 19, 2019 to now16
- Chief executive officerRobert Joseph McNally Nov 19, 2018 to May 30, 201917
- Chief executive officerSteven T. Schlotterbeck Jun 23, 2017 to Feb 26, 201818
- PresidentToby Z. Rice Jul 19, 2019 to now16
- PresidentRobert Joseph McNally Nov 19, 2018 to May 30, 201917
- PresidentSteven T. Schlotterbeck Jan 5, 2016 to Feb 26, 201819
- PresidentJoseph E. Obrien Feb 28, 2007 to Aug 7, 200820
- PresidentDiane L. Prier Dec 3, 2004 to Mar 13, 200621
- PresidentRandall L. Crawford Aug 15, 2003 to Feb 28, 200722
- PresidentArthur G. Cantrell Oct 17, 2003 to Feb 27, 200423
- PresidentJames M. Funk Dec 18, 2003 to Dec 22, 200324
- Chief financial officerJeremy Knop Jul 24, 2023 to now25
- Chief financial officerDavid M. Khani Jan 9, 2020 to Mar 10, 202326
- Chief financial officerRobert Joseph McNally Mar 23, 2016 to Nov 5, 201827
- Chief financial officerPhilip P. Conti Feb 16, 2005 to Feb 29, 201628
- Chief operating officerGary E. Gould Apr 24, 2019 to Apr 24, 201929
Board members and other officers (60)
- EVP OPERATIONSJ.e.b. Bolen Oct 15, 2024 to now30
- EVP CORP VENTURES & MIDSTREAMRobert R. Wingo Oct 15, 2024 to Mar 6, 202531
- EVP UPSTREAMSarah Fenton Oct 15, 2024 to now32
- EVP, GC and Corp SecWilliam E. Jordan Feb 12, 2021 to May 30, 202433
- Chief Human Resources OfficerLesley Evancho Jul 31, 2019 to now34
- Chief Information OfficerRichard A. Duran Jul 31, 2019 to now35
- Interim Chf Financial OfficerKyle Derham Sep 6, 2019 to Sep 6, 201936
- Chief Accounting OfficerTodd James Nov 5, 2019 to now37
- Senior Vice PresidentThomas F. Karam Aug 13, 2018 to Aug 13, 201838
- EVP, ProductionErin R. Centofanti Nov 1, 2018 to Jun 17, 201939
- Principal Accounting OfficerJeffery C. Mitchell Nov 15, 2018 to Mar 11, 201940
- Senior Vice PresidentDavid E. Schlosser Jr. Mar 3, 2017 to Feb 26, 201841
- Chief Commercial OfficerDonald M. Jenkins Mar 3, 2017 to Mar 18, 201942
- Senior Vice PresidentJeremiah J. Ashcroft Iii. Aug 9, 2017 to Jan 3, 201843
- Vice PresidentSteven T. Schlotterbeck Feb 4, 2008 to May 14, 201544
- Vice PresidentM. Elise Hyland Feb 28, 2008 to Apr 4, 201745
- Senior Vice PresidentRandall L. Crawford Aug 7, 2008 to Feb 21, 201746
- VP and Corporate ControllerTheresa Z. Bone Jul 13, 2007 to Aug 22, 201647
- Vice President and CIOMartin A. Fritz Apr 21, 2006 to Jan 3, 201348
- Vice PresidentJoseph E. Obrien Feb 12, 2004 to Jan 5, 200949
- Vice PresidentCharlene Petrelli Feb 27, 2004 to Feb 26, 201850
- Sr VP, Gen Counsel and Sec'yLoughlin Johanna G. O. Jul 21, 2003 to Nov 19, 200751
- VP and Corporate ControllerJohn A. Bergonzi Sep 30, 2003 to Aug 7, 200852
- Vice President and TreasurerPhilip P. Conti Dec 10, 2003 to Feb 27, 200453
- Board memberFrank C. Hu Oct 19, 2021 to now54
- Board memberHallie A. Vanderhider Jul 19, 2019 to now55
- Board memberJ. T. McManus Jul 19, 2019 to now56
- Board memberJanet Carrig Jul 19, 2019 to Apr 19, 202457
- Board memberJohn McCartney Jul 19, 2019 to now58
- Board memberKathryn Jean Jackson Jul 19, 2019 to now59
- Board memberLee M. Canaan Jul 19, 2019 to now60
- Board memberLydia I. Beebe Jul 19, 2019 to now61
- Board memberToby Z. Rice Jul 19, 2019 to now16
- Board memberAnita M. Powers Nov 15, 2018 to now62
- Board memberChristina Anne Cassotis Nov 15, 2018 to Jan 3, 201963
- Board memberGerald F. Maccleary Nov 15, 2018 to Jul 3, 201964
- Board memberWilliam M. Lambert Nov 15, 2018 to Jan 3, 201965
- Board memberRobert Joseph McNally Nov 19, 2018 to May 30, 201917
- Board memberSteven T. Schlotterbeck Jan 4, 2017 to Feb 26, 201866
- Board memberDaniel J. Rice Iv. Nov 15, 2017 to now67
- Board memberNorman J. Szydlowski Nov 15, 2017 to Oct 3, 201868
- Board memberRobert F. Vagt Nov 15, 2017 to now69
- Board memberThomas F. Karam Nov 15, 2017 to now70
- Board memberChristine J. Toretti Oct 27, 2015 to Jan 3, 201971
- Board memberKenneth Michael Burke Jan 17, 2012 to Aug 13, 201872
- Board memberMargaret K. Dorman Jan 17, 2012 to Jan 3, 201873
- Board memberStephen A. Thorington Sep 30, 2010 to May 5, 202074
- Board memberPhilip G. Behrman Jul 15, 2008 to Apr 4, 202275
- Board memberVicky A. Bailey Jun 24, 2004 to now76
- Board memberBarabara S. Jeremiah Jul 24, 2003 to Jan 5, 201277
- Board memberGeorge L. Miles Jr. Jul 24, 2003 to Jan 5, 201678
- Board memberDavid S. Shapira Oct 3, 2003 to Jan 5, 201679
- Board memberE. Lawrence Keyes Jr. Oct 3, 2003 to Oct 3, 200380
- Board memberJames E. Rohr Oct 3, 2003 to Jan 3, 201981
- Board memberPhyllis A. Domm Oct 3, 2003 to Apr 25, 200882
- Board memberThomas A. McConomy Oct 3, 2003 to Nov 29, 200783
- Board memberLee T. Todd Jr. Nov 26, 2003 to Jan 3, 201984
- General counselWilliam E. Jordan Jul 19, 2019 to now85
- General counselJonathan M. Lushko Nov 1, 2018 to Mar 11, 201986
- General counselLewis B. Gardner Mar 19, 2008 to Feb 26, 201887
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- EQM GP Corporation Delaware6
- EQM Gathering Holdings, LLC Delaware6
- EQM Gathering Opco, LLC Delaware6
- EQM Midstream Partners, LP Delaware6
- EQM Olympus Midstream LLC Delaware6
- EQT AMD LLC Delaware6
- EQT AMM LLC Delaware6
- EQT ARO LLC Delaware6
- EQT Artemis Midstream LLC Delaware6
- EQT Artemis Production LLC Delaware6
- EQT Aurora LLC Pennsylvania6
- EQT CHAP LLC Pennsylvania6
- EQT CNEU LLC Delaware6
- EQT Capital Corporation Delaware6
- EQT Carbon Services LLC Delaware6
- EQT Commodities HoldCo LLC Delaware6
- EQT Energy, LLC Delaware6
- EQT Gathering, LLC Pennsylvania6
- EQT Holdings LLC Delaware6
- EQT Homer City Opco LLC Delaware6
- EQT Investments Holdings, LLC Delaware6
- EQT LNG HoldCo LLC Delaware6
- EQT LNG Investments LLC Delaware6
- EQT LNG Trading LLC Delaware6
All 58 listed subsidiaries
- EQT Midstream Company LLC Delaware6
- EQT Midstream HoldCo LLC Delaware6
- EQT NV Tera HoldCo LLC Delaware6
- EQT NV Watt HoldCo LLC Delaware6
- EQT Operations HoldCo LLC Delaware6
- EQT Production Company Pennsylvania6
- EQT TGHL Exploration LLC Texas6
- EQT Upstream HoldCo LLC Delaware6
- EQT Ventures HoldCo LLC Delaware6
- EQT Ventures LLC Delaware6
- EQT XL Midstream LLC Delaware6
- EQT XL Midstream Operating LLC Delaware6
- EQT XL Processing LLC Delaware6
- EQT XL Processing Operating LLC Delaware6
- ET Blue Grass, LLC Delaware6
- Equitrans Investments, LLC Delaware6
- Equitrans Services, LLC Delaware6
- Equitrans Water Services (OH), LLC Delaware6
- Equitrans Water Services (PA), LLC Delaware6
- Equitrans, L.P. Pennsylvania6
- Eureka Land, LLC Delaware6
- Eureka Midstream Holdings, LLC Delaware6
- Eureka Midstream, LLC Delaware6
- Eureka Services Intermediate, LLC Delaware6
- Eureka Services, LLC Delaware6
- Hammerhead Midstream LLC Delaware6
- Hornet Midstream Pipeline, LLC Delaware6
- MVP HoldCo B LLC Delaware6
- MVP Holdco, LLC Delaware6
- Mountain Valley Pipeline, LLC Delaware6
- PipeBox LLC Delaware6
- Rager Mountain Storage Company, LLC Delaware6
- Rice Drilling B LLC Delaware6
- Rice Drilling D LLC Delaware6
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- EQUITABLE RESOURCES INC /PA/May 18, 1994 to Feb 4, 20095
Timeline
- Oct 13, 20268-K Results of operations88
- Oct 7, 20268-K Entered a material agreement; New debt or obligation89
- Jul 21, 20268-K Results of operations90
- Jul 14, 20268-K Results of operations91
- Apr 21, 20268-K Results of operations92
- Apr 15, 20268-K Executive or director change; Shareholder vote93
- Apr 14, 20268-K Results of operations94
- Mar 24, 20268-K Other events95
- Mar 10, 20268-K Other events96
- Feb 17, 20268-K Results of operations97
- Feb 9, 20268-K Executive or director change98
- Jan 29, 20268-K Results of operations99
- Jul 19, 2019New chief executive Toby Z. Rice becomes CEO16
- Feb 18, 2019Founded EQT HOLDINGS LIMITED is founded3
- Nov 19, 2018New chief executive Robert Joseph McNally becomes CEO17
- Jun 23, 2017New chief executive Steven T. Schlotterbeck becomes CEO18
- Aug 6, 1985Went public Listed on Australian Securities Exchange1
Calendar
Coming up
- Oct 27, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.52 a share, on Oct 21, 2025.100
When it reported results
- Oct 13, 2026Reported quarterly or annual results88
- Jul 21, 2026Reported quarterly or annual results90
- Jul 14, 2026Reported quarterly or annual results91
- Apr 21, 2026Reported quarterly or annual results92
- Apr 14, 2026Reported quarterly or annual results94
- Feb 17, 2026Reported quarterly or annual results97
- Jan 29, 2026Reported quarterly or annual results99
- Oct 21, 2025Reported quarterly or annual results101
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
578 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 117 major events, 311 insider forms, 39 large holders, 91 other. The latest 20:
- Oct 13, 20268-K EDGAR
- Oct 7, 20268-K EDGAR
- Oct 5, 20264 EDGAR
- Oct 5, 20264 EDGAR
- Aug 18, 20264 EDGAR
- Aug 14, 2026144 EDGAR
- Jul 28, 20264 EDGAR
- Jul 28, 20264 EDGAR
- Jul 28, 20264 EDGAR
- Jul 22, 202610-Q EDGAR
- Jul 21, 20268-K EDGAR
- Jul 14, 20268-K EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jun 9, 20264 EDGAR
- Jun 8, 2026144 EDGAR
- Jun 5, 2026144 EDGAR
- May 28, 2026SD EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
The 578 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
25 open-market trades by officers, directors and large owners since October 2021: 0 buys and 25 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 14, 2026 | Rice Toby Z.PRESIDENT & CEO | Sale | 175,328 | $55.03 | $9.6M | Form 4 |
| Jun 8, 2026 | Rice Toby Z.PRESIDENT & CEO | Sale | 1,731 | $53.46 | $92.5K | Form 4 |
| Jun 5, 2026 | Rice Toby Z.PRESIDENT & CEO | Sale | 96,983 | $54.28 | $5.3M | Form 4 |
| Apr 27, 2026 | BAILEY VICKY ADirector | Sale | 4,116 | $59.80 | $246.1K | Form 4 |
| Mar 16, 2026 | Fenton SarahEVP UPSTREAM | Sale | 4,876 | $64.49 | $314.5K | Form 4 |
| Mar 12, 2026 | Bolen J.E.B.EVP OPERATIONS | Sale | 7,634 | $64.35 | $491.2K | Form 4 |
| Mar 3, 2026 | Evancho LesleyCHIEF HUMAN RESOURCES OFFICER | Sale | 20,000 | $60.69 | $1.2M | Form 4 |
| Feb 27, 2026 | Knop JeremyCHIEF FINANCIAL OFFICER | Sale | 20,000 | $61.65 | $1.2M | Form 4 |
| Feb 23, 2026 | James ToddCHIEF ACCOUNTING OFFICER | Sale | 32,514 | $61.12 | $2.0M | Form 4 |
| Feb 20, 2026 | Fenton SarahEVP UPSTREAM | Sale | 3,768 | $60.37 | $227.5K | Form 4 |
| Nov 11, 2025 | Jordan William E.CHIEF LEGAL & POLICY OFFICER | Sale | 57,500 | $60.63 | $3.5M | Form 4 |
| Oct 28, 2025 | Bolen J.E.B.EVP OPERATIONS | Sale | 1,422 | $52.79 | $75.1K | Form 4 |
| Aug 6, 2025 | BAILEY VICKY ADirector | Sale | 4,259 | $51.56 | $219.6K | Form 4 |
| Jul 25, 2025 | Fenton SarahEVP UPSTREAM | Sale | 12,438 | $51.94 | $646.0K | Form 4 |
| Apr 28, 2025 | Knop JeremyCHIEF FINANCIAL OFFICER | Sale | 7,216 | $51.00 | $368.0K | Form 4 |
| Mar 11, 2025 | KARAM THOMAS FDirector | Sale | 30,844 | $48.74 | $1.5M | Form 4 |
| Dec 3, 2024 | KARAM THOMAS FDirector | Sale | 45,922 | $44.87 | $2.1M | Form 4 |
| May 29, 2024 | Jordan William E.CHIEF LEGAL & POLICY OFFICER | Sale | 35,000 | $40.72 | $1.4M | Form 4 |
| May 28, 2024 | Evancho LesleyCHIEF HUMAN RESOURCES OFFICER | Sale | 46,884 | $41.29 | $1.9M | Form 4 |
| Sep 14, 2023 | VANLOH S WIL JR10% owner | Sale | 20,000,000 | $41.40 | $828.0M | Form 4 |
All 25 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 2026102
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 2026103
- VANGUARD GROUP INCSCHEDULE 13G/A, 6 filings Feb 10, 2022 to Mar 26, 2026104
- Wellington Management CompanySCHEDULE 13G/A, 5 filings May 6, 2024 to Feb 10, 2026105
- PRICE T ROWE ASSOCIATES INC /MD/SCHEDULE 13G/A, 7 filings Nov 10, 2021 to Aug 14, 2025106
- BlackRockSCHEDULE 13G/A, 8 filings Jan 25, 2022 to Jul 17, 2025107
- State Street CorporationSCHEDULE 13G, 3 filings Feb 6, 2023 to May 13, 2025108
- Q-XcL Holdings I (VI) Investment Partners, LLCSC 13G/A, 3 filings Aug 30, 2023 to Oct 9, 2024109
- FMR LLCSC 13G/A, 3 filings Feb 9, 2022 to Feb 9, 2024110
- The Bank of New York MellonSC 13G/A, 2 filings Feb 2, 2022 to May 10, 2022111
Stakes it holds
EQT HOLDINGS LIMITED has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).
- Midstream Co LLCSC 13G/A Feb 4, 2022 to Apr 28, 2022112
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Toby Z. RicePresident and Chief Executive Officer | 44 | $1 | $16.1M113 |
| 2025 | Jeremy T. KnopChief Financial Officer | $629.8K | $9.4M113 | |
| 2025 | William E. JordanChief Legal and Policy Officer | $525.0K | $4.1M113 | |
| 2025 | J.E.B. BolenExec VP Operations | $486.9K | $3.9M113 | |
| 2025 | Sarah FentonExec VP Upstream | $486.9K | $3.9M113 | |
| 2024 | Toby Z. RicePresident and Chief Executive Officer | 44 | $1 | $11.3M113 |
| 2024 | Jeremy T. KnopChief Financial Officer | $533.3K | $4.0M113 | |
| 2024 | William E. JordanChief Legal and Policy Officer | $462.5K | $3.1M113 | |
| 2023 | Toby Z. RicePresident and Chief Executive Officer | 44 | $1 | $10.6M113 |
| 2023 | William E. JordanChief Legal and Policy Officer | $450.0K | $3.0M113 | |
| 2023 | Jeremy T. KnopChief Financial Officer | $428.8K | $2.7M113 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 60,261,896 | $3.2B | 0.0% | −716,511 |
| Vanguard Capital Management LLC | 40,864,324 | $2.2B | 0.0% | +298,037 |
| State Street Corp | 39,679,249 | $2.1B | 0.1% | +1,398,316 |
| Vanguard Portfolio Management LLC | 32,757,657 | $1.7B | 0.1% | +789,531 |
| Morgan Stanley | 24,345,547 | $1.3B | 0.1% | −4,105,004 |
| Wellington Management Group Llp | 22,565,479 | $1.2B | 0.2% | +6,603,286 |
| Jpmorgan Chase & Co | 20,541,701 | $1.1B | 0.1% | +268,857 |
| Geode Capital Management, LLC | 17,026,838 | $901.9M | 0.0% | +272,859 |
| Orbis Allan Gray Ltd | 15,706,047 | $835.1M | 2.9% | +3,593,314 |
| Eagle Capital Management LLC | 15,356,952 | $816.5M | 2.5% | +11,696,998 |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | 11,670,803 | $620.5M | 0.5% | +325,589 |
| Invesco Ltd. | 9,979,275 | $530.6M | 0.0% | +1,279,238 |
| Bank of New York Mellon Corp | 9,632,282 | $512.1M | 0.1% | +636,979 |
| Capital International Investors | 7,146,523 | $380.0M | 0.1% | +3,699,615 |
| Goldman Sachs Group Inc | 6,493,142 | $345.2M | 0.0% | +551,262 |
| Dimensional Fund Advisors LP | 5,893,265 | $313.3M | 0.1% | +370,773 |
| Northern Trust Corp | 5,588,334 | $297.1M | 0.0% | −80,059 |
| Allspring Global Investments Holdings, LLC | 5,618,889 | $294.9M | 0.5% | +92,516 |
| Baillie Gifford & Co | 5,472,472 | $291.0M | 0.3% | +1,541,421 |
| Clearbridge Investments, LLC | 5,109,556 | $271.7M | 0.2% | +467,065 |
| Value Aligned Research Advisors, LLC | 4,614,894 | $245.4M | 1.5% | +426,906 |
| Capital World Investors | 4,464,660 | $237.4M | 0.0% | +5,508 |
| Bank Of America Corp /de/ | 4,240,709 | $225.5M | 0.0% | +284,244 |
| Charles Schwab Investment Management Inc | 4,156,865 | $221.0M | 0.0% | +58,196 |
| Canoe Financial LP | 4,020,858 | $215.4M | 2.7% | +1,030,676 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
6 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Jul 7, 2026 | Thomas H. Kean, Jr.Republican, House | Buy | $1,001 - $15,000 | +1.7% | Report |
| Jun 1, 2026 | Thomas H. Kean, Jr.Republican, House | Buy | $1,001 - $15,000 | −3.5% | Report |
| Feb 10, 2026 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | −13.5% | Report |
| Jul 11, 2025 | Ritchie TorresDemocratic, House | Sale | $1,001 - $15,000 | +25.6% | Report |
| Apr 8, 2025 | Robert P. Bresnahan, Jr.Republican, House | Buy | $1,001 - $15,000 | −41.1% | Report |
| Sep 26, 2024 | Ritchie TorresDemocratic, House | Buy | $1,001 - $15,000 | +18.1% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How EQT HOLDINGS LIMITED is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGAREQT Corp2
- CIK0000033213
- Employer ID (EIN)25-04646907
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company7
- Incorporated inPennsylvania7
- Fiscal year endsDecember 312
- Industry code (SIC)1311 Crude Petroleum & Natural Gas2
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
- Business address2200 Energy Drive, Canonsburg, PA 153172
- Phone41255357002
- Shares outstanding625,516,000 as of Jul 14, 202614
- Public float$34.7B as of Jun 30, 20257
- AuditorErnst & Young LLP, Pittsburgh, Pennsylvania PCAOB ID 42; it also attests to the company’s internal control over financial reporting7
- On EDGAR sinceJan 19, 19942
- Filings2,467 in all: 4 (1,083), 8-K (393), SC 13G/A (99), 10-Q (98), DEFA14A (97), 3 (67), 11-K (51), 425 (47)2
All 65 form types
SC 13G (40), DFAN14A (39), DEF 14A (34), 10-K (32), UPLOAD (29), S-8 (24), 144 (22), S-8 POS (22), SC 13D/A (22), CORRESP (21), 4/A (16), 424B5 (16), 424B3 (15), EFFECT (15), POS AM (12), 8-K/A (11), NO ACT (11), 424B2 (10), S-3 (10), S-3ASR (10), FWP (9), S-4/A (9), SCHEDULE 13G/A (9), 3/A (7), PRE 14A (7), S-3/A (6), S-4 (6), 10-K/A (5), 10-Q/A (5), 5 (5), ARS (5), 424B7 (4), SD (4), DEFC14A (3), PREC14A (3), PRRN14A (3), SC TO-T/A (3), SCHEDULE 13G (3), 424B4 (2), 5/A (2), 8-A12B (2), PRER14A (2), PX14A6G (2), SC 13D (2), 10-K405 (1), 15-12B (1), 15-15D (1), 15-15D/A (1), 25-NSE (1), 424B1 (1), 8-A12B/A (1), CT ORDER (1), D (1), POSASR (1), REGDEX (1), SC TO-C (1), SC TO-T (1)
- Latest filingsAnnual report (10-K) Feb 18, 2026
Quarterly report (10-Q) Jul 22, 2026
Proxy statement (DEF 14A) Feb 26, 2026
Latest 8-K (8-K) Oct 13, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, no par value | EQT | New York Stock Exchange |
From the cover page of the 10-K filed Feb 18, 2026 (Section 12(b) of the Exchange Act).7
Risk factors and legal proceedings
The risks EQT HOLDINGS LIMITED names in Item 1A of its 10-K filed Feb 18, 2026: 50 risks under these headings, as written.7
- Risks Associated with Natural Gas Upstream, Midstream and Processing Operations
- Drilling for, producing, gathering, transmitting, storing and processing natural gas are high-risk and costly activities with many uncertainties. Our future financial position, cash flows and results of operations depend on the success of our operating activities, which are subject to numerous risks beyond our control.
- We are subject to risks associated with the operation of our wells, pipelines and facilities.
- Significant portions of our assets have been in service for several decades. There could be unknown events or conditions, or increased maintenance or repair expenses and downtime, associated with our assets that could have a material adverse effect on our business, financial condition, results of operations, and cash flows.
- Expanding our business by constructing new midstream assets subjects us to construction, business, economic, competitive, regulatory, judicial, environmental, political and legal uncertainties that are beyond our control.
- A terrorist attack or armed conflict targeting our systems or natural gas infrastructure generally could materially adversely impact our operations.
- Potential physical effects of climate change could disrupt our upstream, midstream and processing activities, cause us to incur significant costs in preparing for or responding to those effects, or otherwise adversely affect our business.
- Our drilling locations are scheduled out over many years, making them susceptible to uncertainties that could materially alter the occurrence or timing of when they are drilled, if at all.
- Failure to timely develop our leased real property could result in increased capital expenditures and/or impairment of our leases.
- We do not own all of the land on which our pipelines and facilities are located, which could disrupt our operations and future development.
- We may incur losses as a result of title defects in the properties we lease.
- The amount and timing of actual future natural gas, NGLs and oil production is difficult to predict and may vary significantly from our estimates, which may reduce our earnings.
The other 39 risks
- Our proved reserves are estimates that are based on many assumptions that may prove to be inaccurate. Any significant change in these underlying assumptions will greatly affect the quantities and present value of our reserves.
- The standardized measure of discounted future net cash flows from our proved reserves is not the same as the current market value of our estimated natural gas, NGLs and oil reserves.
- Natural gas, NGLs and oil price declines, and changes in our development strategy, have resulted in impairment of certain of our assets. Future declines in commodity prices, increases in operating costs or adverse changes in well performance or additional changes in our development strategy may result in additional write-downs of the carrying amounts of our assets, including long-lived intangible assets, which could materially and adversely affect our results of operations in future periods.
- Financial and Market Risks Applicable to Our Business
- Natural gas, NGLs and oil prices are affected by a number of factors beyond our control, including many of which that are unknown and cannot be anticipated, and we cannot predict with certainty future potential movements in the price for these commodities.
- Natural gas, NGLs and oil price volatility, or a prolonged period of low natural gas, NGLs and oil prices, may have an adverse effect on our revenue, profitability, future rate of growth, liquidity and financial position.
- Increased competition from other companies that provide gathering, transmission and storage of natural gas, or from alternative fuel or energy sources, could negatively impact demand for our midstream services, which could adversely affect our financial results.
- We may not be able to renew or replace expiring gathering, transmission or storage contracts at favorable rates, on a long-term basis or at all, and disagreements have occurred and may arise with contractual counterparties on the interpretation of existing or future contractual terms.
- We may not be able to increase our customer throughput and resulting revenue due to competition and other factors, which could limit our ability to grow our Gathering segment and Transmission segment.
- A substantial majority of the services we provide on our transmission and storage systems are subject to long-term, fixed-price "negotiated rate" contracts that are subject to limited or no adjustment, even if our cost to perform such services exceeds the revenues received from such contracts, and, as a result, our costs could exceed our revenues received under such contracts, we could be unable to achieve the expected investment return under such contracts, and/or our business, financial condition, results of operations, and cash flows could be adversely affected.
- A financial crisis or deterioration in general economic, business or geopolitical conditions could materially adversely affect our operations and financial condition.
- Developments related to climate change may expedite a transition away from the use of carbon-intensive sources for energy generation and products derived from certain fossil fuels, which could have a material and adverse effect on us if we are not able to demonstrate that our products and services align with a low-carbon transition.
- We may not be able to successfully execute our plan to deleverage our business or otherwise reduce our debt level, which could adversely affect our operating flexibility, business, financial condition, results of operations, and cash flows.
- Our substantial debt obligations could have significant adverse consequences on our business and future prospects, and restrictions in our debt agreements could limit our operating flexibility, growth and ability to engage in certain activities.
- Our operations have substantial capital requirements, and we may not be able to obtain needed capital or financing on satisfactory terms.
- We are subject to financing and interest rate exposure risks.
- Derivative transactions may limit our potential gains and involve other risks.
- Risks Associated with Our Human Capital, Technology and Other Resources and Service Providers
- Strategic determinations, including the allocation of resources to strategic opportunities, are challenging, and our failure to appropriately allocate resources among our strategic opportunities may adversely affect our financial position and reduce our future prospects.
- Cyber incidents targeting our digital work environment or other technologies or energy infrastructure may adversely impact our operations.
- The unavailability or high cost of additional drilling rigs, completion services, equipment, supplies, personnel, and oilfield services could adversely affect our ability to execute our operating and development plans within our budget and on a timely basis.
- Our ability to drill for and produce natural gas is dependent on the availability of adequate supplies of water for drilling and completion operations and access to water and waste disposal or recycling services at a reasonable cost and in accordance with applicable environmental rules. Restrictions on our ability to obtain water or dispose of produced water and other waste may adversely affect our results of operations, cash flows and financial position.
- The loss of key personnel could adversely affect our ability to execute our strategic, operational and financial plans.
- If third-party pipelines and other facilities interconnected to our pipelines and facilities become unavailable to transport or process natural gas or do not accept deliveries of natural gas from us, our business, financial condition, cash flows, and results of operations could be adversely affected.
- Substantially all of our producing properties and midstream infrastructure are concentrated in the Appalachian Basin, making us vulnerable to risks associated with operating primarily in one major geographic area.
- Legal and Regulatory Risks
- Negative public perception regarding us and/or our industry, and increasing scrutiny of environmental, social and governance (ESG) matters, could have an adverse effect on our business, financial condition, and results of operations and damage our reputation.
- Laws and regulations directed at restricting emissions of methane and other GHGs could result in increased operating costs and reduced demand for the natural gas, NGLs and oil that we produce and our midstream systems service.
- We are subject to complex federal, state, local and other laws and regulations that could adversely affect the cost, manner or feasibility of conducting our operations or expose us to significant liabilities.
- Our and the MVP Joint Venture's natural gas gathering, transmission and storage services, as applicable, are subject to extensive regulation by federal, state and local regulatory authorities. Changes in or additional regulatory measures adopted by such authorities, and related litigation, could have a material adverse effect on our business, financial condition, results of operations, and cash flows.
- We and our joint ventures may incur significant costs and liabilities as a result of performance of our pipeline and storage integrity management programs and compliance with increasingly stringent safety regulation.
- Changes in tax laws and regulations could adversely impact our earnings and the cost, manner or feasibility of conducting our operations.
- Our hedging activities are subject to numerous and evolving financial laws and regulations which could inhibit our ability to effectively hedge our production against commodity price risk or increase our cost of compliance.
- Federal, state and local legislative and regulatory initiatives relating to hydraulic fracturing and governmental reviews of such activities could result in increased costs and additional operating restrictions or delays in the completion of natural gas and oil wells, which could adversely affect our production.
- Our operations may be exposed to significant delays, costs and liabilities as a result of environmental and occupational health and safety requirements applicable to our business activities.
- Regulations related to the protection of wildlife could adversely affect our ability to conduct drilling activities and pipeline construction in some of the areas where we operate.
- Risks Associated with Strategic Transactions
- Entering into strategic transactions may expose us to various risks.
- We have entered into joint ventures, and may in the future enter into additional or modify existing joint ventures, that might restrict our operational and corporate flexibility and divert our management's time and our resources. In addition, we exercise no control over joint venture partners, and it may be difficult or impossible for us to cause these joint ventures or partners to take actions that we believe would be in our or the joint venture's best interests and these joint ventures are subject to many of the same risks to which we are subject.
- Acquisitions may disrupt our current plans or operations and may not be worth what we pay due to uncertainties in evaluating recoverable reserves, physical assets and other expected benefits, as well as potential liabilities.
- Securities class action and derivative lawsuits may be brought against us in connection with strategic transactions, which could result in substantial costs and may delay or prevent such transactions from being completed.
Legal proceedings
In the ordinary course of business, various legal and regulatory claims and proceedings are pending or threatened against us. While the amounts claimed may be substantial, we are unable to predict with certainty the ultimate outcome of such claims and proceedings. We accrue legal and other direct costs related to loss contingencies when actually incurred. We have established reserves in amounts that we believe to be appropriate for pending matters and, after consultation with counsel and giving appropriate consideration to available insurance, we believe that the ultimate outcome of any pending matter involving us will not materially affect our financial position, results of operations or liquidity.
Environmental Proceedings
Pratt Storage Field Matter, Morgan Township, Pennsylvania
On October 31, 2018, a gas explosion occurred in Morgan Township, Greene County, Pennsylvania (the Pratt Incident), close in proximity to the Pratt Storage Field assets of Equitrans, L.P., one of our subsidiaries. Following the explosion, the Pennsylvania Department of Environmental Protection (the PADEP), the Pennsylvania Public Utilities Commission and the PHMSA began investigating the Pratt Incident. The PADEP issued a final report and closed its investigation in August 2022, and we do not expect further inquiry from the PADEP on this matter; however, the Pennsylvania Public Utilities Commission and the PHMSA investigations are still open.
The opening of Item 3, Legal Proceedings.7
Links
- WikidataQ109626989
- SEC EDGARCIK 33213
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataEQT HOLDINGS LIMITED on Wikidata
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- 4Yahoo FinanceEQT quote
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- 19SEC EDGARSteven T. Schlotterbeck, President
- 20SEC EDGARJoseph E. Obrien, President
- 21SEC EDGARDiane L. Prier, President
- 22SEC EDGARRandall L. Crawford, President
- 23SEC EDGARArthur G. Cantrell, President
- 24SEC EDGARJames M. Funk, President
- 25SEC EDGARJeremy Knop, Chief financial officer
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- 30SEC EDGARJ.e.b. Bolen, EVP OPERATIONS
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- 32SEC EDGARSarah Fenton, EVP UPSTREAM
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- 37SEC EDGARTodd James, Chief Accounting Officer
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- 39SEC EDGARErin R. Centofanti, EVP, Production
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- 45SEC EDGARM. Elise Hyland, Vice President
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- 49SEC EDGARJoseph E. Obrien, Vice President
- 50SEC EDGARCharlene Petrelli, Vice President
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- 54SEC EDGARFrank C. Hu, Board member
- 55SEC EDGARHallie A. Vanderhider, Board member
- 56SEC EDGARJ. T. McManus, Board member
- 57SEC EDGARJanet Carrig, Board member
- 58SEC EDGARJohn McCartney, Board member
- 59SEC EDGARKathryn Jean Jackson, Board member
- 60SEC EDGARLee M. Canaan, Board member
- 61SEC EDGARLydia I. Beebe, Board member
- 62SEC EDGARAnita M. Powers, Board member
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- 64SEC EDGARGerald F. Maccleary, Board member
- 65SEC EDGARWilliam M. Lambert, Board member
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- 67SEC EDGARDaniel J. Rice Iv., Board member
- 68SEC EDGARNorman J. Szydlowski, Board member
- 69SEC EDGARRobert F. Vagt, Board member
- 70SEC EDGARThomas F. Karam, Board member
- 71SEC EDGARChristine J. Toretti, Board member
- 72SEC EDGARKenneth Michael Burke, Board member
- 73SEC EDGARMargaret K. Dorman, Board member
- 74SEC EDGARStephen A. Thorington, Board member
- 75SEC EDGARPhilip G. Behrman, Board member
- 76SEC EDGARVicky A. Bailey, Board member
- 77SEC EDGARBarabara S. Jeremiah, Board member
- 78SEC EDGARGeorge L. Miles Jr., Board member
- 79SEC EDGARDavid S. Shapira, Board member
- 80SEC EDGARE. Lawrence Keyes Jr., Board member
- 81SEC EDGARJames E. Rohr, Board member
- 82SEC EDGARPhyllis A. Domm, Board member
- 83SEC EDGARThomas A. McConomy, Board member
- 84SEC EDGARLee T. Todd Jr., Board member
- 85SEC EDGARWilliam E. Jordan, General counsel
- 86SEC EDGARJonathan M. Lushko, General counsel
- 87SEC EDGARLewis B. Gardner, General counsel
- 88SEC EDGARResults of operations
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- 90SEC EDGARResults of operations
- 91SEC EDGARResults of operations
- 92SEC EDGARResults of operations
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- 94SEC EDGARResults of operations
- 95SEC EDGAROther events
- 96SEC EDGAROther events
- 97SEC EDGARResults of operations
- 98SEC EDGARExecutive or director change
- 99SEC EDGARResults of operations
- 100NasdaqNasdaq calendar
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