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STATEMENTS OF CONDENSED CONSOLIDATED OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating revenues:        
Gain on derivatives $ 719,964 $ 61,333 $ 41,045 $ 167,844
Total operating revenues 2,557,719 952,512 4,297,569 2,364,780
Operating expenses:        
Transportation and processing 389,116 543,067 767,325 1,088,248
Production 91,518 88,551 179,956 179,200
Operating and maintenance 53,983 13,636 101,280 25,306
Exploration 1,273 1,378 2,324 2,294
Selling, general and administrative 81,586 67,207 173,050 140,260
Depreciation, depletion and amortization 623,471 465,982 1,244,246 952,732
Loss (gain) on sale/exchange of long-lived assets 2,990 (320,129) 3,221 (319,982)
Impairment and expiration of leases 3,254 37,659 5,915 46,868
Other operating expenses 176,490 52,190 189,964 64,163
Total operating expenses 1,423,681 949,541 2,667,281 2,179,089
Operating income 1,134,038 2,971 1,630,288 185,691
Income from investments (67,174) (172) (93,636) (2,432)
Other income (2,616) (19,431) (3,239) (19,636)
Loss on debt extinguishment 5,889 1,837 17,569 5,286
Interest expense, net 105,668 55,720 223,237 110,091
Income (loss) before income taxes 1,092,271 (34,983) 1,486,357 92,382
Income tax expense (benefit) 235,615 (44,222) 314,283 (19,920)
Net income 856,656 9,239 1,172,074 112,302
Less: Net income (loss) attributable to noncontrolling interests 72,509 (278) 145,788 (703)
Net income attributable to EQT Corporation $ 784,147 $ 9,517 $ 1,026,286 $ 113,005
Income per share of common stock attributable to EQT Corporation:        
Weighted average common stock outstanding - Basic (in shares) 599,221 441,968 598,574 440,714
Net income attributable to EQT Corporation - Basic (in dollars per share) $ 1.31 $ 0.02 $ 1.71 $ 0.26
Weighted average common stock outstanding - Diluted (in shares) 602,924 444,921 602,896 444,893
Net income attributable to EQT Corporation - Diluted (in dollars per share) $ 1.30 $ 0.02 $ 1.70 $ 0.25
Sales of natural gas, natural gas liquids and oil        
Operating revenues:        
Sales of natural gas, natural gas liquids and oil $ 1,700,499 $ 889,517 $ 3,945,226 $ 2,193,422
Pipeline and other        
Operating revenues:        
Pipeline and other $ 137,256 $ 1,662 $ 311,298 $ 3,514