EQT Corporation (NYSE: EQT) conducts its business through two business segments: EQT Production and EQT Midstream. EQT Production has been a major player in the Appalachian Basin for over 120 years. EQT owns approximately 3.6 million gross acres, including approximately 580,000 gross acres in the Marcellus play, more than 14,500 gross productive wells and 8.3 trillion cubic feet of proved natural gas and crude oil reserves. Through innovative and environmentally-friendly drilling methods, EQT is able to tap into unconventional reservoirs.
EQT Midstream is seizing opportunities created by the Appalachian Basin’s growing production of natural gas and other energy products. With approximately 10,400 miles of gathering and transmission pipeline, 1,500 million cubic feet of gathering capacity per day, and 47 billion cubic feet of working gas capacity, EQT is operating the infrastructure needed to deliver clean-burning natural gas throughout the Northeast.
In 2012, EQT Midstream Partners (Partnership) was formed by EQT Corporation to own, operate, acquire and develop midstream assets in the Appalachian Basin. The Partnership provides midstream services to EQT and other third-party companies through its two primary assets: its transmission and storage system, and its gathering system. The Partnership operates approximately 900 miles of FERC-regulated, interstate pipeline system; and more than 1,600 miles of FERC-regulated, low-pressure gathering lines. EQT retains a 34.4% limited partner interest and a 2% general partner interest in the Partnership, whose results are consolidated in the Company's financial results.