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 125 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, NGL, 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 2015, EQT GP Holdings, LP (NYSE: EQGP) was formed to own partnership interests in EQT Midstream Partners, LP, (NYSE: EQM) a growth-oriented limited partnership formed by EQT Corporation to own, operate, acquire, and develop midstream assets in the Appalachian Basin. EQT Midstream Partners provides midstream services to EQT Corporation and third-party companies through its strategically located transmission, storage, and gathering systems that service the Marcellus and Utica regions. EQT Midstream Partners owns 700 miles and operates an additional 200 miles of FERC-regulated interstate pipelines, and also owns more than 1,600 miles of high- and low-pressure gathering lines that have multiple delivery interconnects with the transmission and storage system. EQT owns a 90.1% limited partner interest and a non-economic general partner interest in EQT GP Holdings. EQT GP Holdings owns a 30.2% limited partner interest, a 2% general partner interest, and all incentive distribution rights in EQT Midstream Partners.