Sale of Properties

12 Months Ended

Dec. 31, 2011

Sale of Properties

Sale of Properties

5.Sale of Properties

On February 1, 2011, the Company sold its natural gas processing complex in Langley, Kentucky and the associated natural gas liquids pipeline (Langley) for $230 million. In conjunction with this transaction, the Company realized a pre-tax gain of $22.8 million. As of December 31, 2010, EQT classified the Langley properties as assets held for sale in the accompanying Consolidated Balance Sheets.

On July 1, 2011, the Company sold the Big Sandy Pipeline (Big Sandy) for $390 million.  Big Sandy is a natural gas pipeline regulated by the FERC.  In conjunction with this transaction, the Company realized a pre-tax gain of $180.1 million.

During the fourth quarter of 2011, the Company sold leases relating to 1,919 gross acres in Lycoming County, Pennsylvania for $6.0 million and realized a pre-tax gain of $ 3.9 million.