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 3.4 million gross acres – including approximately 630,000 gross acres in the Marcellus play, more than 13,000 gross productive wells, and 10.7 trillion cubic feet of proved natural gas and crude oil reserves. EQT continues to be a leader in the use of advanced horizontal drilling technology – designed to minimize the potential impact of drilling-related activities and reduce the overall environmental footprint. Through safe and responsible operations, the Company is committed to meeting the country’s growing demand for clean-burning energy.
EQT Midstream is seizing opportunities created by the Appalachian Basin’s growing production of natural gas and other energy products. With approximately 9,100 miles of gathering and transmission pipeline; approximately 2 billion cubic feet of gathering capacity per day in the Marcellus; 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 also owns more than 1,500 miles of FERC-regulated, high- and low-pressure gathering lines that have multiple delivery interconnects with the Partnership’s transmission and storage system. EQT retains a 30.2% limited partner interest and a 2% general partner interest in the Partnership, whose results are consolidated in the Company's financial results.