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Share-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share-based compensation expense
Share-based compensation expense recorded by the Company was as follows:
 
 
Years Ended December 31,
 
 
2015
 
2014
 
2013
 
 
(Thousands)
2012 Executive Performance Incentive Program
 
$
—

 
$
7,743

 
$
6,739

2013 Executive Performance Incentive Program
 
6,834

 
8,208

 
6,602

2014 Executive Performance Incentive Program
 
12,865

 
9,104

 
—

2015 Executive Performance Incentive Program
 
12,051

 
—

 
—

2011 Volume and Efficiency Program
 
—

 
—

 
13,834

2012 EQT Value Driver Award Program
 
—

 
—

 
2,327

2013 EQT Value Driver Award Program
 
—

 
4,403

 
13,050

2014 EQT Value Driver Award Program
 
1,116

 
11,510

 
—

2014 EQM Value Driver Award Program
 
622

 
2,378

 
—

2015 EQT Value Driver Award Program
 
14,574

 
—

 
—

Restricted stock awards
 
7,031

 
4,688

 
3,033

Non-qualified stock options
 
1,938

 
3,002

 
3,805

Other programs, including non-employee director awards
 
(2,339
)
 
(409
)
 
9,154

Total share-based compensation expense
 
$
54,692

 
$
50,627

 
$
58,544
Summary of restricted stock awards activity
A summary of restricted stock activity as of December 31, 2015, and changes during the year then ended, is presented below:
Restricted Stock
 
Non-
Vested
Shares
 
Weighted
Average
Fair Value
 
Aggregate
Fair Value
Outstanding at January 1, 2015
 
229,990

 
$
74.90

 
$
17,225,411

Granted
 
158,360

 
$
75.46

 
11,949,751

Vested
 
(71,100
)
 
$
53.56

 
(3,808,262
)
Forfeited
 
(17,130
)
 
$
80.92

 
(1,386,273
)
Outstanding at December 31, 2015
 
300,120

 
$
79.90

 
$
23,980,627
Non-qualified stock options, assumptions used to value share-based compensation
The expected term of options granted represents the period of time that options granted are expected to be outstanding based on historical option exercise experience.
 
 
Years Ended December 31,
 
 
2015
 
2014
 
2013
Risk-free interest rate
 
1.61%
 
1.72%
 
0.76%
Dividend yield
 
0.12%
 
0.15%
 
0.22%
Volatility factor
 
26.80%
 
24.80%
 
31.69%
Expected term
 
5 years
 
5 years
 
5 years
Summary of option activity
A summary of option activity as of December 31, 2015, and changes during the year then ended, is presented below:
Non-qualified Stock Options
 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
Outstanding at January 1, 2015
 
1,338,468

 
$54.08
 
 
 
 
Granted
 
158,200

 
$75.70
 
 
 
 
Exercised
 
(405,526
)
 
$46.00
 
 
 
 
Forfeited
 
—

 
—
 
 
 
 
Expired
 
(10,900
)
 
$48.91
 
 
 
 
Outstanding at December 31, 2015
 
1,080,242

 
$60.33
 
6.53 years
 
$2,261,513
Exercisable at December 31, 2015
 
788,542

 
$52.25
 
5.78 years
 
$2,261,513
2013 Executive Performance Incentive Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of incentive PSU program
The peer companies for the 2013 Incentive PSU Program are as follows:
Cabot Oil & Gas Corp.
MDU Resources Group, Inc.
Sempra Energy
Chesapeake Energy Corp.
National Fuel Gas Company
SM Energy Company
Cimarex Energy Co.
Newfield Exploration Company
Southwestern Energy Company
Concho Resources, Inc
ONEOK, Inc.
Spectra Energy Corp
CONSOL Energy Inc.
Pioneer Natural Resources Company
Ultra Petroleum Corp.
Energen Corp.
Plains Exploration & Production Co.
Whiting Petroleum Corp.
EOG Resources, Inc.
Questar Corp.
The Williams Companies, Inc.
EXCO Resources, Inc.
Quicksilver Resources Inc.
 
MarkWest Energy Partners, L.P.
Range Resources Corp.
 
2014 Executive Performance Incentive Program  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of incentive PSU program
The peer companies for the 2014 Incentive PSU Program are as follows:
Cabot Oil & Gas Corp.
MarkWest Energy Partners, L.P.
Range Resources Corp.
Chesapeake Energy Corp.
National Fuel Gas Company
SM Energy Company
Cimarex Energy Co.
Newfield Exploration Company
Southwestern Energy Company
Concho Resources, Inc.
Noble Energy, Inc.
Spectra Energy Corp
CONSOL Energy Inc.
ONEOK, Inc.
Ultra Petroleum Corp.
Continental Resources, Inc.
Pioneer Natural Resources Company
Whiting Petroleum Corp.
Energen Corp.
QEP Resources, Inc.
The Williams Companies, Inc.
EOG Resources, Inc.
Questar Corp.
 
EXCO Resources, Inc.
Quicksilver Resources, Inc.
 
2015 Executive Performance Incentive Program  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of incentive PSU program
The peer companies for the 2015 Incentive PSU Program are as follows:
Cabot Oil & Gas Corp.
MarkWest Energy Partners, L.P.
Range Resources Corp.
Chesapeake Energy Corp.
National Fuel Gas Company
SM Energy Company
Cimarex Energy Co.
Newfield Exploration Company
Southwestern Energy Company
Concho Resources, Inc.
Noble Energy, Inc.
Spectra Energy Corp
CONSOL Energy Inc.
ONEOK, Inc.
Ultra Petroleum Corp.
Continental Resources, Inc.
Pioneer Natural Resources Company
Whiting Petroleum Corp.
Energen Corp.
QEP Resources, Inc.
The Williams Companies, Inc.
EOG Resources, Inc.
Questar Corp.
 
EXCO Resources, Inc.
Quicksilver Resources, Inc.