Our Values
- TRUST
- Always doing the right thing.
- Doing what you say you will do.
- TEAMWORK
- Working together toward a common goal.
- Sharing, respecting and embracing diversity of thought.
- Understanding customers.
- Respecting the wrench.
- HEART
- Caring about what you do (actions).
- Caring about the relationships you form (impact).
- Bringing the passion and drive to be the best at what you do (attitude).
- EVOLUTION
- Driving to get better every day.
- Understanding your environment to prioritize any needed adaptation.
- Being transparent (which enables collaboration that triggers innovation and leads to evolution).
Our History
While we have our sights set on the future and opportunities ahead of us, EQT Corporation has a lengthy history in the Appalachian Basin, which can be traced back to 1878 and the first commercial natural gas well in Murrysville, PA. Throughout the next 10 years, this well, named the Haymaker #1, was bought and sold via multiple acquisitions before it landed with The Philadelphia Company, formed by George Westinghouse in 1884. In 1888, The Philadelphia Company created a subsidiary named Equitable Gas - and that was the official origin of EQT.
What began as a modest utility company in the late 1800's eventually became a standalone entity in 1950 when it separated from its parent company and listed on the New York Stock Exchange under the ticker "EQT". As the years went on, the company began to transition into other areas of the natural gas industry -- and in 2009 Equitable Gas rebranded to become EQT Corporation. In 2013, EQT sold its local distribution utility assets and became an exploration and production company with integrated midstream assets.
In November 2017, EQT acquired Rice Energy -- and the combination of EQT's existing assets along with the acquired 252,000 acres, 340 net producing wells, and estimated production of 1.4 Bcfe per day -- created the largest natural gas producer in the United States. Shortly afer the acquisition, EQT announced a plan to separate its upstream and midstream businesses and in November 2018; EQT completed the separation and became a pure play production company with a renewed focus on upstream operations.
In December 2018, a proxy contest was launched by the Rice Group at shareholders' request to take control of EQT's Board of Directors, and on July 10, 2019, shareholders elected seven Rice Group-nominated directors as well as the five nominees supported by both EQT and the Rice Group. The board met shortly thereafter and elected Toby Z. Rice as EQT's Chief Executive Officer.
