EQT (EQT) 10-Q 26 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information shares in Thousands	9 Months Ended
	Sep. 30, 2017shares
Document and Entity Information
Entity Registrant Name	EQT Corp
Entity Central Index Key	33,213
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding	173,343

Statements of Consolidated Oper

Statements of Consolidated Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Sales of natural gas, oil and NGLs	$ 552,953	$ 403,939	$ 1,803,132	$ 1,072,898
Pipeline and net marketing services	71,735	59,431	222,904	188,770
Gain (loss) on derivatives not designated as hedges	35,625	93,356	222,693	(32,342)
Total operating revenues	660,313	556,726	2,248,729	1,229,326
Operating expenses:
Transportation and processing	136,219	89,883	404,743	251,283
Operation and maintenance	20,604	18,198	61,471	51,687
Production	39,630	38,999	129,812	126,092
Exploration	2,436	2,671	9,039	9,385
Selling, general and administrative	77,170	61,430	206,237	196,765
Depreciation, depletion and amortization	246,560	237,088	719,295	682,948
Total operating expenses	522,619	448,269	1,530,597	1,318,160
Operating income (loss)	137,694	108,457	718,132	(88,834)
Other income	6,859	10,715	16,878	23,199
Interest expense	50,377	35,984	137,110	108,469
Income (loss) before income taxes	94,176	83,188	597,900	(174,104)
Income tax (benefit) expense	(11,281)	13,084	119,093	(151,826)
Net income (loss)	105,457	70,104	478,807	(22,278)
Less: Net income attributable to noncontrolling interests	82,117	78,120	250,349	238,747
Net income (loss) attributable to EQT Corporation	$ 23,340	$ (8,016)	$ 228,458	$ (261,025)
Basic:
Weighted average common stock outstanding (in shares)	173,476	172,867	173,368	165,197
Net (loss) income (in dollars per share)	$ 0.13	$ (0.05)	$ 1.32	$ (1.58)
Diluted:
Weighted average common stock outstanding (in shares)	173,675	172,867	173,572	165,197
Net (loss) income (in dollars per share)	$ 0.13	$ (0.05)	$ 1.32	$ (1.58)
Dividends declared per common share (in dollars per share)	$ 0.03	$ 0.03	$ 0.09	$ 0.09

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 105,457	$ 70,104	$ 478,807	$ (22,278)
Net change in cash flow hedges:
Natural gas, net of tax benefit of $(955), $(9,894), $(2,640), and $(28,934)	(1,451)	(14,740)	(4,011)	(43,104)
Interest rate, net of tax expense of $26, $26, $78, and $78	36	36	108	108
Pension and other post-retirement benefits liability adjustment, net of tax expense of $49, $52, $148, and $6,287	77	82	230	9,917
Other comprehensive loss	(1,338)	(14,622)	(3,673)	(33,079)
Comprehensive income (loss)	104,119	55,482	475,134	(55,357)
Less: Comprehensive income attributable to noncontrolling interests	82,117	78,120	250,349	238,747
Comprehensive income (loss) attributable to EQT Corporation	$ 22,002	$ (22,638)	$ 224,785	$ (294,104)

Statements of Consolidated Com4

Statements of Consolidated Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Natural gas, tax benefit	$ (955)	$ (9,894)	$ (2,640)	$ (28,934)
Interest rate, tax expense	26	26	78	78
Pension and other post-retirement benefits liability adjustment, tax expense	$ 49	$ 52	$ 148	$ 6,287

Statements of Condensed Consoli

Statements of Condensed Consolidated Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income (loss)	$ 478,807	$ (22,278)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Deferred income taxes	121,704	(145,739)
Depreciation, depletion and amortization	719,295	682,948
Lease impairments	5,053	5,498
(Recoveries of) provision for losses on accounts receivable	(1,230)	1,165
Other income	(16,878)	(23,199)
Stock-based compensation expense	27,894	34,551
(Gain) loss on derivatives not designated as hedges	(222,693)	32,342
Cash settlements (paid) received on derivatives not designated as hedges	(6,837)	222,516
Pension settlement charge	0	9,403
Changes in other assets and liabilities:
Accounts receivable	64,057	(11,521)
Accounts payable	(15,446)	(12,916)
Other items, net	57,646	(5,071)
Net cash provided by operating activities	1,211,372	767,699
Cash flows from investing activities:
Capital expenditures	(1,152,865)	(1,193,321)
Capital expenditures for acquisitions	(818,957)	(412,348)
Sales of investments in trading securities	283,758	0
Capital contributions to Mountain Valley Pipeline, LLC	(103,448)	(76,297)
Sales of interests in Mountain Valley Pipeline, LLC	0	12,533
Restricted cash, net	75,000	0
Net cash used in investing activities	(1,716,512)	(1,669,433)
Cash flows from financing activities:
Proceeds from the issuance of common shares of EQT Corporation, net of issuance costs	0	1,225,999
Proceeds from the issuance of common units of EQT Midstream Partners, LP, net of issuance costs	0	217,102
Increase in borrowings on EQT Midstream Partners, LP credit facilities	334,000	430,000
Decrease in borrowings on EQT Midstream Partners, LP credit facilities	(229,000)	(638,000)
Dividends paid	(15,620)	(14,966)
Distributions to noncontrolling interests	(172,498)	(137,719)
Proceeds from awards under employee compensation plans	0	2,040
Cash paid for taxes related to net settlement of share-based incentive awards	(18,030)	(26,517)
Debt issuance costs and revolving credit facility origination fees	(13,679)	0
Repurchase of common stock	(15)	(23)
Net cash (used in) provided by financing activities	(114,842)	1,057,916
Net change in cash and cash equivalents	(619,982)	156,182
Cash and cash equivalents at beginning of period	1,103,540	1,601,232
Cash and cash equivalents at end of period	483,558	1,757,414
Cash paid during the period for:
Interest, net of amount capitalized	113,618	88,281
Income taxes, net	$ 9,702	$ 1,294

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 483,558	$ 1,103,540
Trading securities	0	286,396
Accounts receivable (less accumulated provision for doubtful accounts: $5,663 at September 30, 2017 and $6,923 at December 31, 2016)	279,201	341,628
Derivative instruments, at fair value	67,555	33,053
Prepaid expenses and other	28,144	63,602
Total current assets	858,458	1,828,219
Property, plant and equipment	20,296,620	18,216,775
Less: accumulated depreciation and depletion	5,755,358	5,054,559
Net property, plant and equipment	14,541,262	13,162,216
Restricted cash	0	75,000
Investment in nonconsolidated entity	339,978	184,562
Other assets	244,950	222,925
Total assets	15,984,648	15,472,922
Current liabilities:
Current portion of long-term debt	707,470	0
Accounts payable	388,059	309,978
Derivative instruments, at fair value	71,374	257,943
Other current liabilities	268,356	236,719
Total current liabilities	1,435,259	804,640
Credit facility borrowings	105,000	0
Long-term debt	2,586,041	3,289,459
Deferred income taxes	1,866,208	1,760,004
Other liabilities and credits	567,463	499,572
Total liabilities	6,559,971	6,353,675
Shareholders’ equity:
Common stock, no par value, authorized 320,000 shares, shares issued: 177,896 at September 30, 2017 and 177,896 at December 31, 2016	3,449,119	3,440,185
Treasury stock, shares at cost: 4,553 at September 30, 2017 (including 251 held in rabbi trust) and 5,069 at December 31, 2016 (including 226 held in rabbi trust)	(81,729)	(91,019)
Retained earnings	2,721,911	2,509,073
Accumulated other comprehensive (loss) income	(1,631)	2,042
Total common shareholders’ equity	6,087,670	5,860,281
Noncontrolling interests in consolidated subsidiaries	3,337,007	3,258,966
Total equity	9,424,677	9,119,247
Total liabilities and equity	$ 15,984,648	$ 15,472,922

Condensed Consolidated Balance7

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accounts receivable, accumulated provision for doubtful accounts	$ 5,663	$ 6,923
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares (in shares)	320,000,000	320,000,000
Common stock, shares issued (in shares)	177,896,000	177,896,000
Treasury stock, shares at cost (in shares)	4,553,000	5,069,000
Treasury stock, shares held in rabbi trust (in shares)	251,000	226,000

Statements of Condensed Consol8

Statements of Condensed Consolidated Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests in Consolidated Subsidiaries
Beginning Balance (in shares) at Dec. 31, 2015		152,554
Beginning Balance at Dec. 31, 2015	$ 8,028,042	$ 2,049,201	$ 2,982,212	$ 46,378	$ 2,950,251
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(22,278)		(261,025)		238,747
Net change in cash flow hedges:
Natural gas, net of tax benefit	(43,104)			(43,104)
Interest rate, net of tax expense	108			108
Pension and other post-retirement benefits liability adjustment, net of tax expense	9,917			9,917
Dividends	(14,966)		(14,966)
Stock-based compensation plans, net (in shares)		654
Stock-based compensation plans, net	26,372	$ 26,211			161
Distributions to noncontrolling interests	(137,719)				(137,719)
Issuance of common shares of EQT Corporation (in shares)		19,550
Issuance of common shares of EQT Corporation	1,225,999	$ 1,225,999
Issuance of common units of EQT Midstream Partners, LP	217,102				217,102
Changes in ownership of consolidated subsidiaries	(15,194)	$ 25,293			(40,487)
Ending Balance (in shares) at Sep. 30, 2016		172,758
Ending Balance at Sep. 30, 2016	9,274,279	$ 3,326,704	2,706,221	13,299	3,228,055
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	70,104
Net change in cash flow hedges:
Natural gas, net of tax benefit	(14,740)
Pension and other post-retirement benefits liability adjustment, net of tax expense	82
Ending Balance (in shares) at Sep. 30, 2016		172,758
Ending Balance at Sep. 30, 2016	9,274,279	$ 3,326,704	2,706,221	13,299	3,228,055
Beginning Balance (in shares) at Dec. 31, 2016		172,827
Beginning Balance at Dec. 31, 2016	9,119,247	$ 3,349,166	2,509,073	2,042	3,258,966
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	478,807		228,458		250,349
Net change in cash flow hedges:
Natural gas, net of tax benefit	(4,011)			(4,011)
Interest rate, net of tax expense	108			108
Pension and other post-retirement benefits liability adjustment, net of tax expense	230			230
Dividends	(15,620)		(15,620)
Stock-based compensation plans, net (in shares)		516
Stock-based compensation plans, net	18,414	$ 18,224			190
Distributions to noncontrolling interests	(172,498)				(172,498)
Ending Balance (in shares) at Sep. 30, 2017		173,343
Ending Balance at Sep. 30, 2017	9,424,677	$ 3,367,390	2,721,911	(1,631)	3,337,007
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	105,457
Net change in cash flow hedges:
Natural gas, net of tax benefit	(1,451)
Pension and other post-retirement benefits liability adjustment, net of tax expense	77
Ending Balance (in shares) at Sep. 30, 2017		173,343
Ending Balance at Sep. 30, 2017	$ 9,424,677	$ 3,367,390	$ 2,721,911	$ (1,631)	$ 3,337,007

Statements of Condensed Consol9

Statements of Condensed Consolidated Equity (Unaudited) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Natural gas, tax expense (benefit)	$ (2,640)	$ (28,934)
Interest rate, tax expense (benefit)	78	78
Pension and other post-retirement benefits liability adjustment, tax expense	$ 148	$ 6,287
Dividends (in dollars per share)	$ 0.09	$ 0.09
EQM
Distributions to noncontrolling interests (in dollars per common unit)	2.675	2.235
EQGP
Distributions to noncontrolling interests (in dollars per common unit)	$ 0.578	$ 0.406

Financial Statements

Financial Statements	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statements	Financial Statements The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) for interim financial information and with the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by United States GAAP for complete financial statements. In the opinion of management, these statements include all adjustments (consisting of only normal recurring accruals, unless otherwise disclosed in this Form 10-Q) necessary for a fair presentation of the financial position of EQT Corporation and subsidiaries as of September 30, 2017 and December 31, 2016 , the results of its operations for the three and nine month periods ended September 30, 2017 and 2016 and its cash flows and equity for the nine month periods ended September 30, 2017 and 2016 . In this Quarterly Report on Form 10-Q, references to “we,” “us,” “our,” “EQT,” “EQT Corporation,” and the “Company” refer collectively to EQT Corporation and its consolidated subsidiaries. As of December 31, 2016, the Company reports its results of operations through three business segments: EQT Production, EQT Gathering and EQT Transmission. The segment disclosures and discussions contained in this Quarterly Report on Form 10-Q have been recast to reflect the current reporting structure for all periods presented. Certain previously reported amounts have been reclassified to conform to the current year presentation under the current segment reporting structure. The balance sheet at December 31, 2016 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by United States GAAP for complete financial statements. For further information on the Company, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 , as well as “Management’s Discussion and Analysis of Financial Condition and Results of Operations” beginning on page 23 of this Quarterly Report on Form 10-Q.

EQT GP Holdings, LP

EQT GP Holdings, LP	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
EQT GP Holdings, LP	EQT GP Holdings, LP In January 2015, the Company formed EQT GP Holdings, LP (EQGP) (NYSE: EQGP), a Delaware limited partnership, to own the Company's partnership interests in EQT Midstream Partners, LP (EQM) (NYSE: EQM). EQGP owned the following EQM partnership interests as of September 30, 2017 , which represent EQGP’s only cash-generating assets: 21,811,643 EQM common units, representing a 26.6% limited partner interest in EQM; 1,443,015 EQM general partner units, representing a 1.8% general partner interest in EQM; and all of EQM’s incentive distribution rights, or IDRs, which entitle EQGP to receive up to 48.0% of all incremental cash distributed in a quarter after $0.5250 has been distributed in respect of each common unit and general partner unit of EQM for that quarter. Through EQGP's general partner interest, limited partner interest and IDRs in EQM, EQGP has a controlling financial interest in EQM; therefore, EQGP consolidates EQM. The Company is the ultimate parent company of EQGP and EQM. The Company consolidates the results of EQGP but records an income tax provision only on its ownership percentage of EQGP earnings. The Company records the noncontrolling interest of the EQGP and EQM public limited partners (i.e., the EQGP limited partner interests not owned by the Company and the EQM limited partner interests not owned by EQGP) in its financial statements. On October 24, 2017, the Board of Directors of EQGP's general partner declared a cash distribution to EQGP’s unitholders for the third quarter of 2017 of $0.228 per common unit, or approximately $60.7 million . The distribution will be paid on November 22, 2017 to unitholders of record, including the Company, at the close of business on November 3, 2017. EQT Midstream Partners, LP In January 2012, the Company formed EQM to own, operate, acquire and develop midstream assets in the Appalachian Basin. EQM provides midstream services to the Company and other third parties. EQM is consolidated in the Company’s financial statements. The Company records the noncontrolling interest of the EQM public limited partners in its financial statements. On October 24, 2017, the Board of Directors of EQM's general partner declared a cash distribution to EQM’s unitholders for the third quarter of 2017 of $0.980 per common unit. The cash distribution will be paid on November 14, 2017 to unitholders of record, including EQGP, at the close of business on November 3, 2017. Based on the 80,581,758 EQM common units outstanding on October 26, 2017 , the aggregate cash distributions by EQM to EQGP for the third quarter 2017 will be approximately $61.1 million consisting of: $21.4 million in respect of its limited partner interest, $2.1 million in respect of its general partner interest and $37.6 million in respect of its IDRs. These distribution amounts to EQGP related to its general partner interest and IDRs in EQM are subject to change if EQM issues additional common units on or prior to the record date for the third quarter 2017 distribution.

EQT Midstream Partners, LP

EQT Midstream Partners, LP	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
EQT Midstream Partners, LP	EQT GP Holdings, LP In January 2015, the Company formed EQT GP Holdings, LP (EQGP) (NYSE: EQGP), a Delaware limited partnership, to own the Company's partnership interests in EQT Midstream Partners, LP (EQM) (NYSE: EQM). EQGP owned the following EQM partnership interests as of September 30, 2017 , which represent EQGP’s only cash-generating assets: 21,811,643 EQM common units, representing a 26.6% limited partner interest in EQM; 1,443,015 EQM general partner units, representing a 1.8% general partner interest in EQM; and all of EQM’s incentive distribution rights, or IDRs, which entitle EQGP to receive up to 48.0% of all incremental cash distributed in a quarter after $0.5250 has been distributed in respect of each common unit and general partner unit of EQM for that quarter. Through EQGP's general partner interest, limited partner interest and IDRs in EQM, EQGP has a controlling financial interest in EQM; therefore, EQGP consolidates EQM. The Company is the ultimate parent company of EQGP and EQM. The Company consolidates the results of EQGP but records an income tax provision only on its ownership percentage of EQGP earnings. The Company records the noncontrolling interest of the EQGP and EQM public limited partners (i.e., the EQGP limited partner interests not owned by the Company and the EQM limited partner interests not owned by EQGP) in its financial statements. On October 24, 2017, the Board of Directors of EQGP's general partner declared a cash distribution to EQGP’s unitholders for the third quarter of 2017 of $0.228 per common unit, or approximately $60.7 million . The distribution will be paid on November 22, 2017 to unitholders of record, including the Company, at the close of business on November 3, 2017. EQT Midstream Partners, LP In January 2012, the Company formed EQM to own, operate, acquire and develop midstream assets in the Appalachian Basin. EQM provides midstream services to the Company and other third parties. EQM is consolidated in the Company’s financial statements. The Company records the noncontrolling interest of the EQM public limited partners in its financial statements. On October 24, 2017, the Board of Directors of EQM's general partner declared a cash distribution to EQM’s unitholders for the third quarter of 2017 of $0.980 per common unit. The cash distribution will be paid on November 14, 2017 to unitholders of record, including EQGP, at the close of business on November 3, 2017. Based on the 80,581,758 EQM common units outstanding on October 26, 2017 , the aggregate cash distributions by EQM to EQGP for the third quarter 2017 will be approximately $61.1 million consisting of: $21.4 million in respect of its limited partner interest, $2.1 million in respect of its general partner interest and $37.6 million in respect of its IDRs. These distribution amounts to EQGP related to its general partner interest and IDRs in EQM are subject to change if EQM issues additional common units on or prior to the record date for the third quarter 2017 distribution.

Investment in Nonconsolidated E

Investment in Nonconsolidated Entity	9 Months Ended
	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investment in Nonconsolidated Entity	Investment in Nonconsolidated Entity As of September 30, 2017 , EQM owned a 45.5% interest (the MVP Interest) in Mountain Valley Pipeline, LLC (MVP Joint Venture). The MVP Joint Venture plans to construct the Mountain Valley Pipeline (MVP), an estimated 300 -mile natural gas interstate pipeline spanning from northern West Virginia to southern Virginia. The MVP Joint Venture has secured a total of 2.0 Bcf per day of 20 -year firm capacity commitments, including a 1.29 Bcf per day firm capacity commitment by the Company. On October 13, 2017, the Federal Energy Regulatory Commission (FERC) issued the Certificate of Public Convenience and Necessity for the project. The pipeline is targeted to be placed in-service during the fourth quarter of 2018. The MVP Joint Venture has been determined to be a variable interest entity because it has insufficient equity to finance its activities during the construction stage of the project. EQM is not the primary beneficiary because it does not have the power to direct the activities of the MVP Joint Venture that most significantly impact its economic performance. Certain business decisions require the approval of owners holding more than a 66 2/3% interest in the MVP Joint Venture and no one member owns more than a 66 2/3% interest. The Company, through its ownership interest in EQM, accounts for the interest in the MVP Joint Venture as an equity method investment as EQM has the ability to exercise significant influence over operating and financial policies of the MVP Joint Venture. In August 2017, the MVP Joint Venture issued a capital call notice to MVP Holdco, LLC (MVP Holdco), a direct wholly owned subsidiary of EQM, for $48.0 million , of which $27.2 million was paid in October 2017 and the remaining $20.8 million is expected to be paid in November 2017. The capital contribution payable has been reflected on the Condensed Consolidated Balance Sheet as of September 30, 2017 with a corresponding increase to the Company's investment in the MVP Joint Venture. EQM’s ownership share of the MVP Joint Venture's earnings for the three months ended September 30, 2017 and 2016 was $6.0 million and $2.7 million , respectively. EQM’s ownership share of the earnings for the nine months ended September 30, 2017 and 2016 was $15.4 million and $6.1 million , respectively. These earnings are reported in other income on the Statements of Consolidated Operations for the periods presented. As of September 30, 2017 , EQM had issued a $91 million performance guarantee in favor of the MVP Joint Venture to provide performance assurances for MVP Holdco's obligations to fund its proportionate share of the construction budget for the MVP. Upon the FERC's initial release to begin construction of the MVP, EQM's guarantee will terminate. EQM will then be obligated to issue a new guarantee in an amount equal to 33% of MVP Holdco’s proportionate share of the then remaining construction budget, less, subject to certain limits, any credit assurances issued by any affiliate of EQM under such affiliate's precedent agreement with the MVP Joint Venture. As of September 30, 2017 , EQM's maximum financial statement exposure related to the MVP Joint Venture was approximately $431 million , which consists of the investment in nonconsolidated entity balance on the Condensed Consolidated Balance Sheet as of September 30, 2017 and amounts which could have become due under EQM's performance guarantee as of that date.

Consolidated Variable Interest

Consolidated Variable Interest Entities	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated Variable Interest Entities	Consolidated Variable Interest Entities The Company determined EQGP and EQM to be variable interest entities. Through EQT's ownership and control of EQGP's general partner and control of EQM's general partner, EQT has the power to direct the activities that most significantly impact their economic performance. In addition, through EQT's limited partner interest in EQGP and EQGP's general partner interest, limited partner interest and IDRs in EQM, EQT has the obligation to absorb the losses of EQGP and EQM and the right to receive benefits from EQGP and EQM, in accordance with such interests. As EQT has a controlling financial interest in EQGP, and is the primary beneficiary of EQGP, EQT consolidates EQGP and EQGP consolidates EQM. See Note 12 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 for additional information related to the consolidated variable interest entities. The risks associated with the operations of EQGP and EQM are discussed in their respective Annual Reports on Form 10-K for the year ended December 31, 2016 , as updated by any Quarterly Reports on Form 10-Q. See further discussion of the impact that EQT's ownership and control of EQGP and EQM have on EQT's financial position, results of operations and cash flows included in EQT's Annual Report on Form 10-K for the year ended December 31, 2016 , including in the section captioned "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. See Notes B and C for further discussion of EQGP and EQM, respectively. The following table presents amounts included in the Company's Condensed Consolidated Balance Sheets that were for the use or obligation of EQGP or EQM as of September 30, 2017 and December 31, 2016 . Classification September 30, 2017 December 31, 2016 (Thousands) Assets: Cash and cash equivalents $ 6,933 $ 60,453 Accounts receivable 21,768 20,662 Prepaid expenses and other 4,196 5,745 Property, plant and equipment, net 2,745,509 2,578,834 Other assets 363,186 206,104 Liabilities: Accounts payable $ 37,494 $ 35,831 Other current liabilities 70,960 32,242 Credit facility borrowings 105,000 — Long-term debt 986,947 985,732 Other liabilities and credits 9,877 9,562 The following table summarizes EQGP's Statements of Consolidated Operations and Cash Flows for the three and nine months ended September 30, 2017 and 2016 , inclusive of affiliate amounts. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands) Operating revenues $ 207,193 $ 176,772 $ 609,585 $ 540,600 Operating expenses 62,230 51,138 180,218 150,548 Other expenses (income) 2,556 (7,452 ) 6,418 (9,900 ) Net income $ 142,407 $ 133,086 $ 422,949 $ 399,952 Net cash provided by operating activities $ 159,911 $ 102,923 $ 479,566 $ 378,042 Net cash used in investing activities (117,637 ) (204,470 ) (324,936 ) (541,369 ) Net cash (used in) provided by financing activities (48,128 ) 17,454 (208,150 ) (197,367 )

Financial Information by Busine

Financial Information by Business Segment	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Financial Information by Business Segment	Financial Information by Business Segment Operating segments are revenue-producing components of the enterprise for which separate financial information is produced internally and which are subject to evaluation by the Company’s chief operating decision maker in deciding how to allocate resources. The Company reports its operations in three segments, which reflect its lines of business: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes the Company’s exploration for, and development and production of, natural gas, natural gas liquids (NGLs) and a limited amount of crude oil, primarily in the Appalachian Basin. The EQT Production segment also includes the marketing activities of the Company. The operations of EQT Gathering include the natural gas gathering activities of the Company, consisting solely of assets that are owned and operated by EQM. The operations of EQT Transmission include the natural gas transmission and storage activities of the Company, consisting solely of assets that are owned and operated by EQM. Operating segments are evaluated on their contribution to the Company’s consolidated results based on operating income. Other income, interest and income taxes are managed on a consolidated basis. Headquarters’ costs are billed to the operating segments based upon an allocation of the headquarters’ annual operating budget. Differences between budget and actual headquarters’ expenses are not allocated to the operating segments. Substantially all of the Company’s operating revenues, income from operations and assets are generated or located in the United States. Three Months Ended September 30, 2017 EQT Production EQT Gathering EQT Transmission Intersegment Eliminations EQT Corporation Revenues: (Thousands) Sales of natural gas, oil and NGLs $ 552,953 $ — $ — $ — $ 552,953 Pipeline and net marketing services 9,140 116,522 90,671 (144,598 ) 71,735 Gain on derivatives not designated as hedges 35,625 — — — 35,625 Total operating revenues $ 597,718 $ 116,522 $ 90,671 $ (144,598 ) $ 660,313 Three Months Ended September 30, 2016 EQT Production EQT Gathering EQT Transmission Intersegment Eliminations EQT Corporation Revenues: (Thousands) Sales of natural gas, oil and NGLs $ 403,939 $ — $ — $ — $ 403,939 Pipeline and net marketing services 10,797 99,141 77,631 (128,138 ) 59,431 Gain on derivatives not designated as hedges 93,356 — — — 93,356 Total operating revenues $ 508,092 $ 99,141 $ 77,631 $ (128,138 ) $ 556,726 Nine Months Ended September 30, 2017 EQT Production EQT Gathering EQT Transmission Intersegment Eliminations EQT Corporation Revenues: (Thousands) Sales of natural gas, oil and NGLs $ 1,803,132 $ — $ — $ — $ 1,803,132 Pipeline and net marketing services 31,656 330,996 278,589 (418,337 ) 222,904 Gain on derivatives not designated as hedges 222,693 — — — 222,693 Total operating revenues $ 2,057,481 $ 330,996 $ 278,589 $ (418,337 ) $ 2,248,729 Nine Months Ended September 30, 2016 EQT Production EQT Gathering EQT Transmission Intersegment Eliminations EQT Corporation Revenues: (Thousands) Sales of natural gas, oil and NGLs $ 1,072,898 $ — $ — $ — $ 1,072,898 Pipeline and net marketing services 28,196 297,305 243,295 (380,026 ) 188,770 Loss on derivatives not designated as hedges (32,342 ) — — — (32,342 ) Total operating revenues $ 1,068,752 $ 297,305 $ 243,295 $ (380,026 ) $ 1,229,326 Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands) Operating income (loss): EQT Production $ 12,082 $ (15,465 ) $ 322,277 $ (468,678 ) EQT Gathering 85,817 72,495 242,716 218,274 EQT Transmission 59,689 53,715 188,995 174,085 Unallocated expenses (a) (19,894 ) (2,288 ) (35,856 ) (12,515 ) Total operating income (loss) $ 137,694 $ 108,457 $ 718,132 $ (88,834 ) (a) Unallocated expenses consist primarily of compensation expense and administrative costs, including the Rice Merger (defined in Note N ) acquisition-related expenses. Reconciliation of operating income (loss) to net income (loss): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands) Total operating income (loss) $ 137,694 $ 108,457 $ 718,132 $ (88,834 ) Other income 6,859 10,715 16,878 23,199 Interest expense 50,377 35,984 137,110 108,469 Income tax (benefit) expense (11,281 ) 13,084 119,093 (151,826 ) Net income (loss) $ 105,457 $ 70,104 $ 478,807 $ (22,278 ) As of September 30, 2017 As of December 31, 2016 (Thousands) Segment assets: EQT Production $ 12,071,776 $ 10,923,824 EQT Gathering 1,367,487 1,225,686 EQT Transmission 1,442,068 1,399,201 Total operating segments 14,881,331 13,548,711 Headquarters assets, including cash and short-term investments 1,103,317 1,924,211 Total assets $ 15,984,648 $ 15,472,922 Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands) Depreciation, depletion and amortization: EQT Production $ 224,103 $ 220,768 $ 654,411 $ 635,253 EQT Gathering 9,983 7,663 28,398 22,520 EQT Transmission 12,261 6,976 35,793 20,657 Other 213 1,681 693 4,518 Total $ 246,560 $ 237,088 $ 719,295 $ 682,948 Expenditures for segment assets (b): EQT Production (c) $ 449,303 $ 622,856 $ 1,850,482 $ 1,094,747 EQT Gathering 48,182 88,390 150,728 247,755 EQT Transmission 22,312 77,940 73,679 253,957 Other 2,502 4,693 7,097 10,395 Total $ 522,299 $ 793,879 $ 2,081,986 $ 1,606,854 (b) Includes the capitalized portion of non-cash stock-based compensation expense and the impact of capital accruals. (c) Expenditures for segment assets in the EQT Production segment included $52.1 million and $30.1 million for general leasing activity during the three months ended September 30, 2017 and 2016 , respectively, and $147.0 million and $98.2 million for general leasing activity during the nine months ended September 30, 2017 and 2016 , respectively. The three and nine months ended September 30, 2017 includes $7.8 million and $819.0 million of cash capital expenditures, respectively, for the acquisitions discussed in Note M . The three and nine months ended September 30, 2016 includes $412.3 million of cash capital expenditures for the acquisitions discussed in Note M . During the nine months ended September 30, 2017 and 2016 , the Company also incurred $7.5 million and $6.2 million of non-cash capital expenditures for the acquisitions discussed in Note M .

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company’s primary market risk exposure is the volatility of future prices for natural gas and NGLs, which can affect the operating results of the Company primarily at EQT Production. The Company’s overall objective in its hedging program is to protect cash flows from undue exposure to the risk of changing commodity prices. The Company uses over the counter (OTC) derivative commodity instruments, primarily swap and collar agreements that are typically placed with financial institutions. The creditworthiness of all counterparties is regularly monitored. Swap agreements involve payments to or receipts from counterparties based on the differential between two prices for the commodity. Collar agreements require the counterparty to pay the Company if the index price falls below the floor price and the Company to pay the counterparty if the index price rises above the cap price. The Company also sells call options that require the Company to pay the counterparty if the index price rises above the strike price. The Company engages in basis swaps to protect earnings from undue exposure to the risk of geographic disparities in commodity prices and interest rate swaps to hedge exposure to interest rate fluctuations on potential debt issuances. The Company has also engaged in a limited number of swaptions and power-indexed natural gas sales and swaps that are treated as derivative commodity instruments for accounting purposes. The Company recognizes all derivative instruments as either assets or liabilities at fair value on a gross basis. These derivative instruments are reported as either current assets or current liabilities due to their highly liquid nature. The Company can net settle its derivative instruments at any time. The Company discontinued cash flow hedge accounting in 2014; therefore, all changes in fair value of the Company’s derivative instruments are recognized within operating revenues in the Statements of Consolidated Operations. In prior periods, derivative commodity instruments used by the Company to hedge its exposure to variability in expected future cash flows associated with the fluctuations in the price of natural gas related to the Company’s forecasted sale of EQT Production's produced volumes and forecasted natural gas purchases and sales were designated and qualified as cash flow hedges. As of September 30, 2017 and December 31, 2016 , the forecasted transactions that were hedged as of December 31, 2014 remained probable of occurring and as such, the amounts in accumulated other comprehensive income (OCI) will continue to be reported in accumulated OCI and will be reclassified into earnings in future periods when the underlying hedged transactions occur. The forecasted transactions extend through December 2018. As of September 30, 2017 and December 31, 2016 , the Company deferred net gains of $5.6 million and $9.6 million , respectively, in accumulated OCI, net of tax, related to the effective portion of the change in fair value of its derivative commodity instruments designated as cash flow hedges. The Company estimates that approximately $1.9 million of net gains on its derivative commodity instruments reflected in accumulated OCI, net of tax, as of September 30, 2017 will be recognized in earnings during the next twelve months due to the settlement of hedged transactions. Contracts which result in physical delivery of a commodity expected to be used or sold by the Company in the normal course of business are designated as normal purchases and sales and are exempt from derivative accounting. OTC arrangements require settlement in cash. Settlements of derivative commodity instruments are reported as a component of cash flows from operations in the accompanying Statements of Condensed Consolidated Cash Flows. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands) Commodity derivatives designated as cash flow hedges Amount of gain reclassified from accumulated OCI, net of tax, into operating revenues (effective portion) $ 1,451 $ 14,740 $ 4,011 $ 43,104 Interest rate derivatives designated as cash flow hedges Amount of loss reclassified from accumulated OCI, net of tax, into interest expense (effective portion) $ (36 ) $ (36 ) $ (108 ) $ (108 ) Derivatives not designated as hedging instruments Amount of gain (loss) recognized in operating revenues $ 35,625 $ 93,356 $ 222,693 $ (32,342 ) With respect to the derivative commodity instruments held by the Company, the Company hedged portions of expected sales of equity production and portions of its basis exposure covering approximately 470 Bcf of natural gas and 1,189 Mbbls of NGLs as of September 30, 2017 , and 646 Bcf of natural gas and 1,095 Mbbls of NGLs as of December 31, 2016 . The open positions at September 30, 2017 and December 31, 2016 had maturities extending through December 2020. The Company has netting agreements with financial institutions and its brokers that permit net settlement of gross commodity derivative assets against gross commodity derivative liabilities. The table below reflects the impact of netting agreements and margin deposits on gross derivative assets and liabilities as of September 30, 2017 and December 31, 2016 . As of September 30, 2017 Derivative instruments, recorded in the Condensed Consolidated Balance Sheet, gross Derivative instruments subject to master netting agreements Margin deposits remitted to counterparties Derivative instruments, net (Thousands) Asset derivatives: Derivative instruments, at fair value $ 67,555 $ (42,886 ) $ — $ 24,669 Liability derivatives: Derivative instruments, at fair value $ 71,374 $ (42,886 ) $ — $ 28,488 As of December 31, 2016 Derivative instruments, recorded in the Condensed Consolidated Balance Sheet, gross Derivative instruments subject to master netting agreements Margin deposits remitted to counterparties Derivative instruments, net (Thousands) Asset derivatives: Derivative instruments, at fair value $ 33,053 $ (23,373 ) $ — $ 9,680 Liability derivatives: Derivative instruments, at fair value $ 257,943 $ (23,373 ) $ — $ 234,570 Certain of the Company’s derivative instrument contracts provide that if the Company’s credit ratings by Standard & Poor’s Rating Service (S&P) or Moody’s Investors Service (Moody’s) are lowered below investment grade, additional collateral must be deposited with the counterparty if the amounts outstanding on those contracts exceed certain thresholds. The additional collateral can be up to 100% of the derivative liability. As of September 30, 2017 , the aggregate fair value of all derivative instruments with credit risk-related contingent features that were in a net liability position was $12.8 million , for which the Company had no collateral posted on September 30, 2017 . If the Company’s credit rating by S&P or Moody’s had been downgraded below investment grade on September 30, 2017 , the Company would not have been required to post any additional collateral under the agreements with the respective counterparties. The required margin on the Company’s derivative instruments is subject to significant change as a result of factors other than credit rating, such as gas prices and credit thresholds set forth in agreements between the hedging counterparties and the Company. Investment grade refers to the quality of the Company’s credit as assessed by one or more credit rating agencies. The Company’s senior unsecured debt was rated BBB by S&P and Baa3 by Moody’s at September 30, 2017 . In order to be considered investment grade, the Company must be rated BBB- or higher by S&P and Baa3 or higher by Moody’s. Anything below these ratings is considered non-investment grade. See also "Security Ratings and Financing Triggers" under Part I, Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations."

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company records its financial instruments, principally derivative instruments, at fair value in its Condensed Consolidated Balance Sheets. The Company estimates the fair value using quoted market prices, where available. If quoted market prices are not available, fair value is based upon models that use market-based parameters as inputs, including forward curves, discount rates, volatilities and nonperformance risk. Nonperformance risk considers the effect of the Company’s credit standing on the fair value of liabilities and the effect of the counterparty’s credit standing on the fair value of assets. The Company estimates nonperformance risk by analyzing publicly available market information, including a comparison of the yield on debt instruments with credit ratings similar to the Company’s or counterparty’s credit rating and the yield of a risk-free instrument and credit default swaps rates where available. The Company has categorized its assets and liabilities recorded at fair value into a three-level fair value hierarchy, based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Assets and liabilities in Level 2 primarily include the Company’s swap and collar agreements. The fair value of the commodity swaps included in Level 2 is based on standard industry income approach models that use significant observable inputs, including but not limited to New York Mercantile Exchange (NYMEX) natural gas and propane forward curves, LIBOR-based discount rates and basis forward curves. The Company’s collars, options and swaptions are valued using standard industry income approach option models. The significant observable inputs utilized by the option pricing models include NYMEX forward curves, natural gas volatilities and LIBOR-based discount rates. The NYMEX natural gas and propane forward curves, LIBOR-based discount rates, natural gas volatilities and basis forward curves are validated to external sources at least monthly. The following assets and liabilities were measured at fair value on a recurring basis during the applicable period: Fair value measurements at reporting date using Description As of September 30, 2017 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (Thousands) Assets Derivative instruments, at fair value $ 67,555 $ — $ 67,555 $ — Liabilities Derivative instruments, at fair value $ 71,374 $ — $ 71,374 $ — Fair value measurements at reporting date using Description As of December 31, 2016 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (Thousands) Assets Trading securities $ 286,396 $ — $ 286,396 $ — Derivative instruments, at fair value $ 33,053 $ — $ 33,053 $ — Liabilities Derivative instruments, at fair value $ 257,943 $ — $ 257,943 $ — The carrying values of cash equivalents, restricted cash, accounts receivable and accounts payable approximate fair value due to the short-term maturity of the instruments. The carrying values of borrowings under EQM’s credit facilities approximate fair value as the interest rates are based on prevailing market rates. These are Level 1 fair values. As of December 31, 2016 , the Company reflected its investment in trading securities as Level 2 fair value measurements. The fair values of trading securities classified as Level 2 are priced using nonbinding market prices that are corroborated by observable market data. Inputs into these valuation techniques include actual trade data, broker/dealer quotes and other similar data. As of March 31, 2017, the Company closed its positions on all trading securities. The Company estimates the fair value of its debt using its established fair value methodology. Because not all of the Company’s debt is actively traded, the fair value of the debt is a Level 2 fair value measurement. Fair value for non-traded debt obligations is estimated using a standard industry income approach model which utilizes a discount rate based on market rates for debt with similar remaining time to maturity and credit risk. The estimated fair value of total debt (including EQM’s long-term debt) on the Condensed Consolidated Balance Sheets was approximately $3.5 billion at September 30, 2017 and December 31, 2016 . The carrying value of total debt (including EQM’s long-term debt) on the Condensed Consolidated Balance Sheets was approximately $3.3 billion at September 30, 2017 and December 31, 2016 . The Company recognizes transfers between Levels as of the actual date of the event or change in circumstances that caused the transfer. There were no transfers between Levels 1, 2 and 3 during the periods presented.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the nine months ended September 30, 2017 , the Company calculated the provision for income taxes by applying the annual effective tax rate for the full fiscal year to “ordinary” income or loss (pre-tax income or loss excluding unusual or infrequently occurring items) for the quarter. For the nine months ended September 30, 2016 , the Company determined small fluctuations in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate and thus an estimated annual effective tax rate would not provide a reliable estimate for that period. As a consequence, the Company used a discrete effective tax rate method to calculate taxes for the nine months ended September 30, 2016 . All of EQGP’s income is included in the Company’s pre-tax income. However, the Company is not required to record income tax expense with respect to the portion of EQGP’s income allocated to the noncontrolling public limited partners of EQGP and EQM, which reduces the Company’s effective tax rate in periods when the Company has consolidated pre-tax income and increases the Company's effective tax rate in periods when the Company has consolidated pre-tax loss. The Company had consolidated pre-tax income for the nine months ended September 30, 2017 , compared to a consolidated pre-tax loss for the nine months ended September 30, 2016 . The Company’s effective tax rate for the nine months ended September 30, 2017 was 19.9% compared to 87.2% for the nine months ended September 30, 2016 . There were no material changes to the Company’s methodology for determining unrecognized tax benefits during the three months ended September 30, 2017 .

Revolving Credit Facilities

Revolving Credit Facilities	9 Months Ended
	Sep. 30, 2017
Short-term Debt [Abstract]
Revolving Credit Facilities	Revolving Credit Facilities In July 2017, the Company amended and restated its $1.5 billion revolving credit facility to extend the term to July 2022. In addition, following the closing of the Rice Merger (defined in Note N) and subject to the satisfaction of certain conditions, the borrowing capacity under the revolving credit facility will automatically increase to $2.5 billion . The Company had no borrowings or letters of credit outstanding under its revolving credit facility as of September 30, 2017 or December 31, 2016 or at any time during the three and nine months ended September 30, 2017 and 2016 . In July 2017, EQM amended and restated its credit facility to increase the borrowing capacity under the facility from $750 million to $1 billion and to extend the term to July 2022. Subject to certain terms and conditions, the $1 billion credit facility has an accordion feature that allows EQM to increase the available borrowings under the facility by up to an additional $500 million . EQM had $105 million in borrowings and no letters of credit outstanding under the credit facility as of September 30, 2017 . EQM had no borrowings and no letters of credit outstanding under the credit facility as of December 31, 2016 . The maximum amount of outstanding borrowings under EQM’s revolving credit facility at any time during each of the three and nine months ended September 30, 2017 was $177 million . The maximum amount of EQM's outstanding borrowings under the credit facility at any time during the three and nine months ended September 30, 2016 was $91 million and $299 million , respectively. The average daily balance of loans outstanding under EQM's credit facility was approximately $95 million and $32 million during the three and nine months ended September 30, 2017 , respectively, at a weighted average annual interest rate of 2.7% for both periods. The average daily balance of loans outstanding under EQM's credit facility was approximately $34 million and $67 million at weighted average annual interest rates of 2.0% and 1.9% for the three and nine months ended September 30, 2016 , respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Potentially dilutive securities (options and restricted stock awards) included in the calculation of diluted earnings per share totaled 199,376 and 204,080 for the three and nine months ended September 30, 2017 , respectively. Options to purchase common stock excluded from potentially dilutive securities because they were anti-dilutive totaled 425,100 and 431,190 for the three and nine months ended September 30, 2017 , respectively. In periods when the Company reports a net loss, all options and restricted stock awards are excluded from the calculation of diluted weighted average shares outstanding because of their anti-dilutive effect on loss per share. Due to the Company's net loss for the three and nine months ended September 30, 2016 , all outstanding options and restricted stock awards were excluded from the calculation of diluted earnings per share. The excluded options and restricted stock awards totaled 1,712,527 and 1,812,142 for the three and nine months ended September 30, 2016 , respectively. The impact of EQM’s and EQGP’s dilutive units did not have a material impact on the Company’s earnings per share calculations for any of the periods presented.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income by Component	9 Months Ended
	Sep. 30, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Changes in Accumulated Other Comprehensive Income by Component	Changes in Accumulated Other Comprehensive Income by Component The following tables explain the changes in accumulated OCI by component during the applicable period: Three Months Ended September 30, 2017 Natural gas cash flow hedges, net of tax Interest rate cash flow hedges, net of tax Other post- retirement benefit liability adjustment, net of tax Accumulated OCI, net of tax (Thousands) Accumulated OCI (loss), net of tax, as of July 1, 2017 $ 7,047 $ (627 ) $ (6,713 ) $ (293 ) (Gains) losses reclassified from accumulated OCI, net of tax (1,451 ) (a) 36 (a) 77 (b) (1,338 ) Accumulated OCI (loss), net of tax, as of September 30, 2017 $ 5,596 $ (591 ) $ (6,636 ) $ (1,631 ) Three Months Ended September 30, 2016 Natural gas cash Interest rate Pension and other post- Accumulated (Thousands) Accumulated OCI (loss), net of tax, as of July 1, 2016 $ 36,398 $ (771 ) $ (7,706 ) $ 27,921 (Gains) losses reclassified from accumulated OCI, net of tax (14,740 ) (a) 36 (a) 82 (b) (14,622 ) Accumulated OCI (loss), net of tax, as of September 30, 2016 $ 21,658 $ (735 ) $ (7,624 ) $ 13,299 Nine Months Ended September 30, 2017 Natural gas cash flow hedges, net of tax Interest rate cash flow hedges, net of tax Other post- retirement benefit liability adjustment, net of tax Accumulated OCI, net of tax (Thousands) Accumulated OCI (loss), net of tax, as of January 1, 2017 $ 9,607 $ (699 ) $ (6,866 ) $ 2,042 (Gains) losses reclassified from accumulated OCI, net of tax (4,011 ) (a) 108 (a) 230 (b) (3,673 ) Accumulated OCI (loss), net of tax, as of September 30, 2017 $ 5,596 $ (591 ) $ (6,636 ) $ (1,631 ) Nine Months Ended September 30, 2016 Natural gas cash flow hedges, net of tax Interest rate cash flow hedges, net of tax Pension and other post- retirement benefits liability adjustment, net of tax Accumulated OCI, net of tax (Thousands) Accumulated OCI (loss), net of tax, as of January 1, 2016 $ 64,762 $ (843 ) $ (17,541 ) $ 46,378 (Gains) losses reclassified from accumulated OCI, net of tax (43,104 ) (a) 108 (a) 9,917 (b) (33,079 ) Accumulated OCI (loss), net of tax, as of September 30, 2016 $ 21,658 $ (735 ) $ (7,624 ) $ 13,299 (a) See Note G for additional information. (b) The accumulated OCI reclassification for the three and nine months ended September 30, 2017 is attributable to the net actuarial loss and net prior service cost related to the Company’s post-retirement benefit plans. The accumulated OCI reclassification for the three and nine months ended September 30, 2016 is attributable to the net actuarial loss and net prior service cost related to the Company’s defined benefit pension plans and other post-retirement benefit plans. See Note 15 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 for additional information.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions	Acquisitions On February 1, 2017, the Company acquired approximately 14,000 net Marcellus acres located in Marion, Monongalia and Wetzel Counties of West Virginia from a third-party for $132.9 million . On February 27, 2017, the Company acquired approximately 85,000 net Marcellus acres, including drilling rights on approximately 44,000 net Utica acres and current natural gas production of approximately 110 MMcfe per day, from Stone Energy Corporation for $523.5 million . The acquired acres are primarily located in Wetzel, Marshall, Tyler and Marion Counties of West Virginia. The acquired assets also include 174 operated Marcellus wells and 20 miles of gathering pipeline. On June 30, 2017, the Company acquired approximately 11,000 net Marcellus acres, and the associated Utica drilling rights, from a third-party for $83.7 million . The acquired acres are primarily located in Allegheny, Washington and Westmoreland Counties of Pennsylvania. The Company paid net cash of $740.1 million for the 2017 acquisitions during the nine months ended September 30, 2017 . The purchase prices remain subject to customary post-closing adjustments as of September 30, 2017 . The preliminary fair value assigned to the acquired property, plant and equipment as of the opening balance sheet dates totaled $750.1 million . In connection with the 2017 acquisitions, the Company assumed approximately $5.3 million of net current liabilities and $4.7 million of non-current liabilities. The amounts presented in the financial statements represent the Company's estimates based on preliminary valuations of acquired assets and liabilities and are subject to change based on the Company's finalization of asset and liability valuations. As a result of post-closing adjustments on its 2016 acquisitions, the Company paid $78.9 million for additional undeveloped acreage and recorded other non-cash adjustments which reduced the preliminary fair values assigned to the acquired property, plant and equipment by $2.5 million during the nine months ended September 30, 2017 . With the exception of the Company's acquisition of Marcellus acreage and other assets from Statoil USA Onshore Properties, Inc., which closed on July 8, 2016, the purchase prices for the Company’s 2016 acquisitions, as well as the fair values assigned to the acquired assets and assumed liabilities, remained preliminary as of September 30, 2017 . Rice Merger On June 19, 2017, the Company entered into an Agreement and Plan of Merger (the Rice Merger Agreement) with Rice Energy Inc. (Rice) (NYSE: RICE), pursuant to which Rice will merge with and into a wholly owned indirect subsidiary of EQT through a series of transactions (the Rice Merger). If the Rice Merger is completed, each share of the common stock of Rice (Rice Common Stock) issued and outstanding immediately prior to the effective time (the Effective Time) of the Rice Merger (other than shares excluded by the Rice Merger Agreement) will be converted into the right to receive 0.37 of a share of the common stock of the Company (EQT Common Stock) and $5.30 in cash (collectively, the Merger Consideration). Based on the closing price of EQT Common Stock on the New York Stock Exchange on June 16, 2017, the last trading day before the public announcement of the Rice Merger, the aggregate value of the Merger Consideration payable to Rice stockholders was approximately $6.7 billion . The Company will also assume or refinance approximately $2.2 billion of net debt and preferred equity (based on anticipated balances as of the expected closing date) of Rice and its subsidiaries and will assume other assets and liabilities of Rice and its subsidiaries at the Effective Time. Based on the estimated number of shares of EQT Common Stock and Rice Common Stock that will be outstanding immediately prior to the Effective Time, the Company estimates that, upon the closing of the Rice Merger, existing EQT shareholders and former Rice stockholders will own approximately 65% and 35% , respectively, of the Company’s outstanding shares. The waiting period applicable to the Rice Merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 was terminated by the Federal Trade Commission on July 18, 2017. The Rice Merger is expected to close in mid-November 2017 following the satisfaction of certain customary closing conditions, including the approval by the Company’s shareholders of the issuance of shares of EQT Common Stock as Merger Consideration and the adoption of the Rice Merger Agreement by Rice stockholders. The special meetings of the shareholders of EQT and the stockholders of Rice are scheduled to be held for these purposes on November 9, 2017. On June 19, 2017, in connection with its entry into the Rice Merger Agreement, the Company entered into a commitment letter (the Commitment Letter) with Citigroup Global Markets Inc. (Citi), pursuant to which Citi and its affiliates committed to provide, subject to the terms and conditions set forth therein, up to $1.4 billion of senior unsecured bridge loans (the Bridge Facility). On July 14, 2017, the Company entered into a joinder letter to the Commitment Letter, pursuant to which 16 additional banks assumed a portion of Citi’s commitment under the Bridge Facility. The lenders’ commitments under the Bridge Facility terminated upon the closing of the 2017 Notes Offering (as defined in Note O). The Company expensed $7.6 million in debt issuance costs related to the Bridge Facility during the nine months ended September 30, 2017 . The Rice Merger Agreement provides for certain termination rights for both the Company and Rice, including the right of either party to terminate the Rice Merger Agreement if the Rice Merger is not consummated by February 19, 2018 (which may be extended by either party to May 19, 2018 under certain circumstances). Upon termination of the Rice Merger Agreement under certain specified circumstances, the Company may be required to pay Rice, or Rice may be required to pay the Company, a termination fee of $255.0 million . In addition, if the Rice Merger Agreement is terminated because of a failure of a party’s shareholders to approve the proposals required to complete the Rice Merger, that party may be required to reimburse the other party for its transaction expenses in an amount equal to $67.0 million . The Company expects to finance the cash portion of the Merger Consideration and the transactions related to the Rice Merger with cash on hand (including from the proceeds of the 2017 Notes Offering) and borrowings under the Company’s revolving credit facility.

Rice Merger

Rice Merger	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Ricer Merger	Acquisitions On February 1, 2017, the Company acquired approximately 14,000 net Marcellus acres located in Marion, Monongalia and Wetzel Counties of West Virginia from a third-party for $132.9 million . On February 27, 2017, the Company acquired approximately 85,000 net Marcellus acres, including drilling rights on approximately 44,000 net Utica acres and current natural gas production of approximately 110 MMcfe per day, from Stone Energy Corporation for $523.5 million . The acquired acres are primarily located in Wetzel, Marshall, Tyler and Marion Counties of West Virginia. The acquired assets also include 174 operated Marcellus wells and 20 miles of gathering pipeline. On June 30, 2017, the Company acquired approximately 11,000 net Marcellus acres, and the associated Utica drilling rights, from a third-party for $83.7 million . The acquired acres are primarily located in Allegheny, Washington and Westmoreland Counties of Pennsylvania. The Company paid net cash of $740.1 million for the 2017 acquisitions during the nine months ended September 30, 2017 . The purchase prices remain subject to customary post-closing adjustments as of September 30, 2017 . The preliminary fair value assigned to the acquired property, plant and equipment as of the opening balance sheet dates totaled $750.1 million . In connection with the 2017 acquisitions, the Company assumed approximately $5.3 million of net current liabilities and $4.7 million of non-current liabilities. The amounts presented in the financial statements represent the Company's estimates based on preliminary valuations of acquired assets and liabilities and are subject to change based on the Company's finalization of asset and liability valuations. As a result of post-closing adjustments on its 2016 acquisitions, the Company paid $78.9 million for additional undeveloped acreage and recorded other non-cash adjustments which reduced the preliminary fair values assigned to the acquired property, plant and equipment by $2.5 million during the nine months ended September 30, 2017 . With the exception of the Company's acquisition of Marcellus acreage and other assets from Statoil USA Onshore Properties, Inc., which closed on July 8, 2016, the purchase prices for the Company’s 2016 acquisitions, as well as the fair values assigned to the acquired assets and assumed liabilities, remained preliminary as of September 30, 2017 . Rice Merger On June 19, 2017, the Company entered into an Agreement and Plan of Merger (the Rice Merger Agreement) with Rice Energy Inc. (Rice) (NYSE: RICE), pursuant to which Rice will merge with and into a wholly owned indirect subsidiary of EQT through a series of transactions (the Rice Merger). If the Rice Merger is completed, each share of the common stock of Rice (Rice Common Stock) issued and outstanding immediately prior to the effective time (the Effective Time) of the Rice Merger (other than shares excluded by the Rice Merger Agreement) will be converted into the right to receive 0.37 of a share of the common stock of the Company (EQT Common Stock) and $5.30 in cash (collectively, the Merger Consideration). Based on the closing price of EQT Common Stock on the New York Stock Exchange on June 16, 2017, the last trading day before the public announcement of the Rice Merger, the aggregate value of the Merger Consideration payable to Rice stockholders was approximately $6.7 billion . The Company will also assume or refinance approximately $2.2 billion of net debt and preferred equity (based on anticipated balances as of the expected closing date) of Rice and its subsidiaries and will assume other assets and liabilities of Rice and its subsidiaries at the Effective Time. Based on the estimated number of shares of EQT Common Stock and Rice Common Stock that will be outstanding immediately prior to the Effective Time, the Company estimates that, upon the closing of the Rice Merger, existing EQT shareholders and former Rice stockholders will own approximately 65% and 35% , respectively, of the Company’s outstanding shares. The waiting period applicable to the Rice Merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 was terminated by the Federal Trade Commission on July 18, 2017. The Rice Merger is expected to close in mid-November 2017 following the satisfaction of certain customary closing conditions, including the approval by the Company’s shareholders of the issuance of shares of EQT Common Stock as Merger Consideration and the adoption of the Rice Merger Agreement by Rice stockholders. The special meetings of the shareholders of EQT and the stockholders of Rice are scheduled to be held for these purposes on November 9, 2017. On June 19, 2017, in connection with its entry into the Rice Merger Agreement, the Company entered into a commitment letter (the Commitment Letter) with Citigroup Global Markets Inc. (Citi), pursuant to which Citi and its affiliates committed to provide, subject to the terms and conditions set forth therein, up to $1.4 billion of senior unsecured bridge loans (the Bridge Facility). On July 14, 2017, the Company entered into a joinder letter to the Commitment Letter, pursuant to which 16 additional banks assumed a portion of Citi’s commitment under the Bridge Facility. The lenders’ commitments under the Bridge Facility terminated upon the closing of the 2017 Notes Offering (as defined in Note O). The Company expensed $7.6 million in debt issuance costs related to the Bridge Facility during the nine months ended September 30, 2017 . The Rice Merger Agreement provides for certain termination rights for both the Company and Rice, including the right of either party to terminate the Rice Merger Agreement if the Rice Merger is not consummated by February 19, 2018 (which may be extended by either party to May 19, 2018 under certain circumstances). Upon termination of the Rice Merger Agreement under certain specified circumstances, the Company may be required to pay Rice, or Rice may be required to pay the Company, a termination fee of $255.0 million . In addition, if the Rice Merger Agreement is terminated because of a failure of a party’s shareholders to approve the proposals required to complete the Rice Merger, that party may be required to reimburse the other party for its transaction expenses in an amount equal to $67.0 million . The Company expects to finance the cash portion of the Merger Consideration and the transactions related to the Rice Merger with cash on hand (including from the proceeds of the 2017 Notes Offering) and borrowings under the Company’s revolving credit facility.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On October 4, 2017, the Company completed the public offering (the 2017 Notes Offering) of $500 million aggregate principal amount of Floating Rate Notes due 2020 (the Floating Rate Notes), $500 million aggregate principal amount of 2.50% Senior Notes due 2020 (the 2020 Notes), $750 million aggregate principal amount of 3.00% Senior Notes due 2022 (the 2022 Notes) and $1.25 billion aggregate principal amount of 3.90% Senior Notes due 2027 (the 2027 Notes and, together with the Floating Rate Notes, the 2020 Notes and the 2023 Notes, the 2017 Notes). The Company received net proceeds from the 2017 Notes Offering of approximately $2,974.3 million , which the Company expects to use, together with other cash on hand and borrowings under the Company’s revolving credit facility, to fund the cash portion of the Merger Consideration, to pay expenses related to the Rice Merger and other transactions contemplated by the Rice Merger Agreement (including the refinancing of certain indebtedness of Rice and its subsidiaries), to redeem or repay certain Company senior notes and medium term notes due in 2018 and for other general corporate purposes. In October 2017, the Company delivered redemption notices pursuant to which the Company expects to redeem all of its outstanding $200 million aggregate principal amount 5.15% Senior Notes due 2018 and $500 million aggregate principal amount 6.50% Senior Notes due 2018 in November 2017. Upon redemption, the Company will pay make whole call premiums based upon prevailing rates on U.S. government securities at the time of redemption. The indentures related to the 2017 Notes contain covenants that limit the Company’s ability to, among other things, incur certain liens securing indebtedness, engage in certain sale and leaseback transactions and enter into certain consolidations, mergers or sales other than for cash or leases of the Company’s assets substantially as an entirety. In addition, if the Rice Merger does not occur on or before May 19, 2018 or the Company notifies the trustee under the indenture governing the 2017 Notes that the Company will not pursue the consummation of the Rice Merger, the Company will be required to redeem the Floating Rate Notes, the 2020 Notes and the 2027 Notes (but not the 2022 Notes) then outstanding at a redemption price equal to 101% of the principal amount of the notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-09, Revenue from Contracts with Customers . The standard requires an entity to recognize revenue in a manner that depicts the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date which approved a one year deferral of ASU No. 2014-09 for annual reporting periods beginning after December 15, 2017. The Company expects to adopt the ASUs using the modified retrospective method of adoption on January 1, 2018. During the third quarter of 2017, the Company substantially completed its detailed review of the impact of the standard on each of its contracts. Based on this review, the Company does not expect the standard to have a significant impact on net income. The Company is currently evaluating the impact of the standard on its internal controls and disclosures. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . The changes primarily affect the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. This standard will eliminate the cost method of accounting for equity investments. The ASU will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period, with early adoption of certain provisions permitted. The Company will adopt this standard in the first quarter of 2018 and does not expect that the adoption will have a material impact on its financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases . The primary effect of adopting the new standard will be to record assets and obligations for contracts currently recognized as operating leases. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The ASU will be effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early adoption permitted. The Company has completed a high level identification of agreements covered by this standard and will continue to evaluate the impact this standard will have on its financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting . This ASU is part of the FASB initiative to reduce complexity in accounting standards. The areas for simplification in this ASU involve several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The Company adopted this standard in the first quarter of 2017 with no significant impact on its reported results or disclosures. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments . This ASU amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For assets held at amortized cost basis, this ASU eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The ASU will be effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period. The Company is currently evaluating the impact this standard will have on its financial statements and related disclosures. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments . This ASU addresses the presentation and classification of eight specific cash flow issues. The amendments in the ASU will be effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted. The Company adopted this standard in the second quarter of 2017 with no material impact on its financial statements and related disclosures. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . This ASU clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The ASU will be effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted. The Company anticipates this standard will not have a material impact on its financial statements and related disclosures. In March 2017, the FASB issued ASU No. 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . This ASU provides additional guidance on the presentation of net benefit cost in the income statement and on the components eligible for capitalization in assets. The ASU will be effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted. The Company anticipates this standard will not have a material impact on its financial statements and related disclosures. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting . This ASU provides guidance regarding which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The ASU will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted. The Company is currently evaluating the impact this standard will have on its financial statements and related disclosures.

Recently Issued Accounting St26

Recently Issued Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Standards	In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-09, Revenue from Contracts with Customers . The standard requires an entity to recognize revenue in a manner that depicts the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date which approved a one year deferral of ASU No. 2014-09 for annual reporting periods beginning after December 15, 2017. The Company expects to adopt the ASUs using the modified retrospective method of adoption on January 1, 2018. During the third quarter of 2017, the Company substantially completed its detailed review of the impact of the standard on each of its contracts. Based on this review, the Company does not expect the standard to have a significant impact on net income. The Company is currently evaluating the impact of the standard on its internal controls and disclosures. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . The changes primarily affect the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. This standard will eliminate the cost method of accounting for equity investments. The ASU will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period, with early adoption of certain provisions permitted. The Company will adopt this standard in the first quarter of 2018 and does not expect that the adoption will have a material impact on its financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases . The primary effect of adopting the new standard will be to record assets and obligations for contracts currently recognized as operating leases. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The ASU will be effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early adoption permitted. The Company has completed a high level identification of agreements covered by this standard and will continue to evaluate the impact this standard will have on its financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting . This ASU is part of the FASB initiative to reduce complexity in accounting standards. The areas for simplification in this ASU involve several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The Company adopted this standard in the first quarter of 2017 with no significant impact on its reported results or disclosures. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments . This ASU amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For assets held at amortized cost basis, this ASU eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The ASU will be effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period. The Company is currently evaluating the impact this standard will have on its financial statements and related disclosures. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments . This ASU addresses the presentation and classification of eight specific cash flow issues. The amendments in the ASU will be effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted. The Company adopted this standard in the second quarter of 2017 with no material impact on its financial statements and related disclosures. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . This ASU clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The ASU will be effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted. The Company anticipates this standard will not have a material impact on its financial statements and related disclosures. In March 2017, the FASB issued ASU No. 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . This ASU provides additional guidance on the presentation of net benefit cost in the income statement and on the components eligible for capitalization in assets. The ASU will be effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted. The Company anticipates this standard will not have a material impact on its financial statements and related disclosures. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting . This ASU provides guidance regarding which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The ASU will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted. The Company is currently evaluating the impact this standard will have on its financial statements and related disclosures.

Consolidated Variable Interes27

Consolidated Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of amounts included in balance sheets, consolidated operations and cash flows of EQGP and EQM	The following table presents amounts included in the Company's Condensed Consolidated Balance Sheets that were for the use or obligation of EQGP or EQM as of September 30, 2017 and December 31, 2016 . Classification September 30, 2017 December 31, 2016 (Thousands) Assets: Cash and cash equivalents $ 6,933 $ 60,453 Accounts receivable 21,768 20,662 Prepaid expenses and other 4,196 5,745 Property, plant and equipment, net 2,745,509 2,578,834 Other assets 363,186 206,104 Liabilities: Accounts payable $ 37,494 $ 35,831 Other current liabilities 70,960 32,242 Credit facility borrowings 105,000 — Long-term debt 986,947 985,732 Other liabilities and credits 9,877 9,562 The following table summarizes EQGP's Statements of Consolidated Operations and Cash Flows for the three and nine months ended September 30, 2017 and 2016 , inclusive of affiliate amounts. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands) Operating revenues $ 207,193 $ 176,772 $ 609,585 $ 540,600 Operating expenses 62,230 51,138 180,218 150,548 Other expenses (income) 2,556 (7,452 ) 6,418 (9,900 ) Net income $ 142,407 $ 133,086 $ 422,949 $ 399,952 Net cash provided by operating activities $ 159,911 $ 102,923 $ 479,566 $ 378,042 Net cash used in investing activities (117,637 ) (204,470 ) (324,936 ) (541,369 ) Net cash (used in) provided by financing activities (48,128 ) 17,454 (208,150 ) (197,367 )

Financial Information by Busi28

Financial Information by Business Segment (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of company's operating revenues, income from operations and assets	Substantially all of the Company’s operating revenues, income from operations and assets are generated or located in the United States. Three Months Ended September 30, 2017 EQT Production EQT Gathering EQT Transmission Intersegment Eliminations EQT Corporation Revenues: (Thousands) Sales of natural gas, oil and NGLs $ 552,953 $ — $ — $ — $ 552,953 Pipeline and net marketing services 9,140 116,522 90,671 (144,598 ) 71,735 Gain on derivatives not designated as hedges 35,625 — — — 35,625 Total operating revenues $ 597,718 $ 116,522 $ 90,671 $ (144,598 ) $ 660,313 Three Months Ended September 30, 2016 EQT Production EQT Gathering EQT Transmission Intersegment Eliminations EQT Corporation Revenues: (Thousands) Sales of natural gas, oil and NGLs $ 403,939 $ — $ — $ — $ 403,939 Pipeline and net marketing services 10,797 99,141 77,631 (128,138 ) 59,431 Gain on derivatives not designated as hedges 93,356 — — — 93,356 Total operating revenues $ 508,092 $ 99,141 $ 77,631 $ (128,138 ) $ 556,726 Nine Months Ended September 30, 2017 EQT Production EQT Gathering EQT Transmission Intersegment Eliminations EQT Corporation Revenues: (Thousands) Sales of natural gas, oil and NGLs $ 1,803,132 $ — $ — $ — $ 1,803,132 Pipeline and net marketing services 31,656 330,996 278,589 (418,337 ) 222,904 Gain on derivatives not designated as hedges 222,693 — — — 222,693 Total operating revenues $ 2,057,481 $ 330,996 $ 278,589 $ (418,337 ) $ 2,248,729 Nine Months Ended September 30, 2016 EQT Production EQT Gathering EQT Transmission Intersegment Eliminations EQT Corporation Revenues: (Thousands) Sales of natural gas, oil and NGLs $ 1,072,898 $ — $ — $ — $ 1,072,898 Pipeline and net marketing services 28,196 297,305 243,295 (380,026 ) 188,770 Loss on derivatives not designated as hedges (32,342 ) — — — (32,342 ) Total operating revenues $ 1,068,752 $ 297,305 $ 243,295 $ (380,026 ) $ 1,229,326 Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands) Operating income (loss): EQT Production $ 12,082 $ (15,465 ) $ 322,277 $ (468,678 ) EQT Gathering 85,817 72,495 242,716 218,274 EQT Transmission 59,689 53,715 188,995 174,085 Unallocated expenses (a) (19,894 ) (2,288 ) (35,856 ) (12,515 ) Total operating income (loss) $ 137,694 $ 108,457 $ 718,132 $ (88,834 ) (a) Unallocated expenses consist primarily of compensation expense and administrative costs, including the Rice Merger (defined in Note N ) acquisition-related expenses.
Reconciliation of operating income to income from continuing operations	Reconciliation of operating income (loss) to net income (loss): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands) Total operating income (loss) $ 137,694 $ 108,457 $ 718,132 $ (88,834 ) Other income 6,859 10,715 16,878 23,199 Interest expense 50,377 35,984 137,110 108,469 Income tax (benefit) expense (11,281 ) 13,084 119,093 (151,826 ) Net income (loss) $ 105,457 $ 70,104 $ 478,807 $ (22,278 )
Schedule of segment assets	As of September 30, 2017 As of December 31, 2016 (Thousands) Segment assets: EQT Production $ 12,071,776 $ 10,923,824 EQT Gathering 1,367,487 1,225,686 EQT Transmission 1,442,068 1,399,201 Total operating segments 14,881,331 13,548,711 Headquarters assets, including cash and short-term investments 1,103,317 1,924,211 Total assets $ 15,984,648 $ 15,472,922
Schedule of depreciation, depletion and amortization and expenditures for segment assets	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands) Depreciation, depletion and amortization: EQT Production $ 224,103 $ 220,768 $ 654,411 $ 635,253 EQT Gathering 9,983 7,663 28,398 22,520 EQT Transmission 12,261 6,976 35,793 20,657 Other 213 1,681 693 4,518 Total $ 246,560 $ 237,088 $ 719,295 $ 682,948 Expenditures for segment assets (b): EQT Production (c) $ 449,303 $ 622,856 $ 1,850,482 $ 1,094,747 EQT Gathering 48,182 88,390 150,728 247,755 EQT Transmission 22,312 77,940 73,679 253,957 Other 2,502 4,693 7,097 10,395 Total $ 522,299 $ 793,879 $ 2,081,986 $ 1,606,854 (b) Includes the capitalized portion of non-cash stock-based compensation expense and the impact of capital accruals. (c) Expenditures for segment assets in the EQT Production segment included $52.1 million and $30.1 million for general leasing activity during the three months ended September 30, 2017 and 2016 , respectively, and $147.0 million and $98.2 million for general leasing activity during the nine months ended September 30, 2017 and 2016 , respectively. The three and nine months ended September 30, 2017 includes $7.8 million and $819.0 million of cash capital expenditures, respectively, for the acquisitions discussed in Note M . The three and nine months ended September 30, 2016 includes $412.3 million of cash capital expenditures for the acquisitions discussed in Note M . During the nine months ended September 30, 2017 and 2016 , the Company also incurred $7.5 million and $6.2 million of non-cash capital expenditures for the acquisitions discussed in Note M .

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives designated and not designated as hedging instruments	Settlements of derivative commodity instruments are reported as a component of cash flows from operations in the accompanying Statements of Condensed Consolidated Cash Flows. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands) Commodity derivatives designated as cash flow hedges Amount of gain reclassified from accumulated OCI, net of tax, into operating revenues (effective portion) $ 1,451 $ 14,740 $ 4,011 $ 43,104 Interest rate derivatives designated as cash flow hedges Amount of loss reclassified from accumulated OCI, net of tax, into interest expense (effective portion) $ (36 ) $ (36 ) $ (108 ) $ (108 ) Derivatives not designated as hedging instruments Amount of gain (loss) recognized in operating revenues $ 35,625 $ 93,356 $ 222,693 $ (32,342 )
Schedule of impact of netting agreements and margin deposits on gross derivative assets	The table below reflects the impact of netting agreements and margin deposits on gross derivative assets and liabilities as of September 30, 2017 and December 31, 2016 . As of September 30, 2017 Derivative instruments, recorded in the Condensed Consolidated Balance Sheet, gross Derivative instruments subject to master netting agreements Margin deposits remitted to counterparties Derivative instruments, net (Thousands) Asset derivatives: Derivative instruments, at fair value $ 67,555 $ (42,886 ) $ — $ 24,669 Liability derivatives: Derivative instruments, at fair value $ 71,374 $ (42,886 ) $ — $ 28,488 As of December 31, 2016 Derivative instruments, recorded in the Condensed Consolidated Balance Sheet, gross Derivative instruments subject to master netting agreements Margin deposits remitted to counterparties Derivative instruments, net (Thousands) Asset derivatives: Derivative instruments, at fair value $ 33,053 $ (23,373 ) $ — $ 9,680 Liability derivatives: Derivative instruments, at fair value $ 257,943 $ (23,373 ) $ — $ 234,570
Schedule of impact of netting agreements and margin deposits on gross derivative liabilities	The table below reflects the impact of netting agreements and margin deposits on gross derivative assets and liabilities as of September 30, 2017 and December 31, 2016 . As of September 30, 2017 Derivative instruments, recorded in the Condensed Consolidated Balance Sheet, gross Derivative instruments subject to master netting agreements Margin deposits remitted to counterparties Derivative instruments, net (Thousands) Asset derivatives: Derivative instruments, at fair value $ 67,555 $ (42,886 ) $ — $ 24,669 Liability derivatives: Derivative instruments, at fair value $ 71,374 $ (42,886 ) $ — $ 28,488 As of December 31, 2016 Derivative instruments, recorded in the Condensed Consolidated Balance Sheet, gross Derivative instruments subject to master netting agreements Margin deposits remitted to counterparties Derivative instruments, net (Thousands) Asset derivatives: Derivative instruments, at fair value $ 33,053 $ (23,373 ) $ — $ 9,680 Liability derivatives: Derivative instruments, at fair value $ 257,943 $ (23,373 ) $ — $ 234,570

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis during the applicable period	The following assets and liabilities were measured at fair value on a recurring basis during the applicable period: Fair value measurements at reporting date using Description As of September 30, 2017 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (Thousands) Assets Derivative instruments, at fair value $ 67,555 $ — $ 67,555 $ — Liabilities Derivative instruments, at fair value $ 71,374 $ — $ 71,374 $ — Fair value measurements at reporting date using Description As of December 31, 2016 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (Thousands) Assets Trading securities $ 286,396 $ — $ 286,396 $ — Derivative instruments, at fair value $ 33,053 $ — $ 33,053 $ — Liabilities Derivative instruments, at fair value $ 257,943 $ — $ 257,943 $ —

Changes in Accumulated Other 31

Changes in Accumulated Other Comprehensive Income by Component (Tables)	9 Months Ended
	Sep. 30, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of the changes in accumulated OCI by component	The following tables explain the changes in accumulated OCI by component during the applicable period: Three Months Ended September 30, 2017 Natural gas cash flow hedges, net of tax Interest rate cash flow hedges, net of tax Other post- retirement benefit liability adjustment, net of tax Accumulated OCI, net of tax (Thousands) Accumulated OCI (loss), net of tax, as of July 1, 2017 $ 7,047 $ (627 ) $ (6,713 ) $ (293 ) (Gains) losses reclassified from accumulated OCI, net of tax (1,451 ) (a) 36 (a) 77 (b) (1,338 ) Accumulated OCI (loss), net of tax, as of September 30, 2017 $ 5,596 $ (591 ) $ (6,636 ) $ (1,631 ) Three Months Ended September 30, 2016 Natural gas cash Interest rate Pension and other post- Accumulated (Thousands) Accumulated OCI (loss), net of tax, as of July 1, 2016 $ 36,398 $ (771 ) $ (7,706 ) $ 27,921 (Gains) losses reclassified from accumulated OCI, net of tax (14,740 ) (a) 36 (a) 82 (b) (14,622 ) Accumulated OCI (loss), net of tax, as of September 30, 2016 $ 21,658 $ (735 ) $ (7,624 ) $ 13,299 Nine Months Ended September 30, 2017 Natural gas cash flow hedges, net of tax Interest rate cash flow hedges, net of tax Other post- retirement benefit liability adjustment, net of tax Accumulated OCI, net of tax (Thousands) Accumulated OCI (loss), net of tax, as of January 1, 2017 $ 9,607 $ (699 ) $ (6,866 ) $ 2,042 (Gains) losses reclassified from accumulated OCI, net of tax (4,011 ) (a) 108 (a) 230 (b) (3,673 ) Accumulated OCI (loss), net of tax, as of September 30, 2017 $ 5,596 $ (591 ) $ (6,636 ) $ (1,631 ) Nine Months Ended September 30, 2016 Natural gas cash flow hedges, net of tax Interest rate cash flow hedges, net of tax Pension and other post- retirement benefits liability adjustment, net of tax Accumulated OCI, net of tax (Thousands) Accumulated OCI (loss), net of tax, as of January 1, 2016 $ 64,762 $ (843 ) $ (17,541 ) $ 46,378 (Gains) losses reclassified from accumulated OCI, net of tax (43,104 ) (a) 108 (a) 9,917 (b) (33,079 ) Accumulated OCI (loss), net of tax, as of September 30, 2016 $ 21,658 $ (735 ) $ (7,624 ) $ 13,299 (a) See Note G for additional information. (b) The accumulated OCI reclassification for the three and nine months ended September 30, 2017 is attributable to the net actuarial loss and net prior service cost related to the Company’s post-retirement benefit plans. The accumulated OCI reclassification for the three and nine months ended September 30, 2016 is attributable to the net actuarial loss and net prior service cost related to the Company’s defined benefit pension plans and other post-retirement benefit plans. See Note 15 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 for additional information.

Financial Statements (Details)

Financial Statements (Details)	12 Months Ended
	Dec. 31, 2016segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

EQT GP Holdings, LP (Details)

EQT GP Holdings, LP (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 24, 2017	Sep. 30, 2017
General Partner Common
Class of Stock [Line Items]
Incentive distribution rights distributed in respect of each common unit and general partner unit (in dollars per share)		$ 0.5250
EQGP
Class of Stock [Line Items]
Percentage of all incremental cash distributed (up to)		48.00%
EQGP | Subsequent Event
Class of Stock [Line Items]
Cash distribution declared (in dollars per share)	$ 0.228
Cash distribution declared	$ 60.7
EQGP | General Partner
Class of Stock [Line Items]
General partner interest (as a percent)		1.80%
EQGP | Affiliated Entity | Limited Partner Common
Class of Stock [Line Items]
Number of common units (in shares)		21,811,643
Limited partner interest (as a percent)		26.60%
EQGP | Affiliated Entity | General Partner
Class of Stock [Line Items]
Number of general partner units (in shares)		1,443,015

EQT Midstream Partners, LP (Det

EQT Midstream Partners, LP (Details) - EQM - Subsequent Event - USD ($) $ / shares in Units, $ in Millions	Oct. 26, 2017	Oct. 24, 2017
Subsidiary or equity method investee
Distribution made to limited partner and general partner, cash distributions declared	$ 61.1
Cash distribution declared	21.4
Distribution made to general partner, cash distributions declared	2.1
Cash distribution declared related to IDRs	$ 37.6
General Partner
Subsidiary or equity method investee
Cash distribution declared (in dollars per share)		$ 0.98
Common unit, outstanding (in shares)	80,581,758

Investment in Nonconsolidated35

Investment in Nonconsolidated Entity (Details) $ in Millions	Nov. 15, 2017USD ($)	Oct. 31, 2017USD ($)	Aug. 31, 2017USD ($)	Sep. 30, 2017USD ($)mi	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Bcf / dmi	Sep. 30, 2016USD ($)
Schedule of Equity Method Investments [Line Items]
Percent interest to require approval						66.67%
Issuance of performance guarantee				$ 91		$ 91
Mountain Valley Pipeline
Schedule of Equity Method Investments [Line Items]
Natural gas interstate pipeline (in miles) | mi				300		300
MVP Joint Venture
Schedule of Equity Method Investments [Line Items]
Firms capacity commitments per day (in bcf per day) | Bcf / d						2
Duration of firm capacity commitments (in years)						20 years
EQM
Schedule of Equity Method Investments [Line Items]
Total investments				$ 6	$ 2.7	$ 15.4	$ 6.1
EQT Corporation and Subsidiaries | MVP Joint Venture
Schedule of Equity Method Investments [Line Items]
Firms capacity commitments per day (in bcf per day) | Bcf / d						1.29
MVP Joint Venture
Schedule of Equity Method Investments [Line Items]
Capital call notice			$ 48
MVP Joint Venture | Scenario, Forecast
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments	$ 20.8
MVP Joint Venture | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments		$ 27.2
Variable Interest Entity, Not Primary Beneficiary | MVP Joint Venture
Schedule of Equity Method Investments [Line Items]
Maximum financial statement exposure				$ 431		$ 431
Variable Interest Entity, Not Primary Beneficiary | MVP Joint Venture | Mountain Valley Pipeline
Schedule of Equity Method Investments [Line Items]
Percentage of remaining obligations						33.00%
Variable Interest Entity, Not Primary Beneficiary | EQM | MVP Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership percentage				45.50%		45.50%

Consolidated Variable Interes36

Consolidated Variable Interest Entities - Balance Sheets (Details) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Cash and cash equivalents
Variable Interest Entity [Line Items]
Assets	$ 6,933	$ 60,453
Accounts receivable
Variable Interest Entity [Line Items]
Assets	21,768	20,662
Prepaid expenses and other
Variable Interest Entity [Line Items]
Assets	4,196	5,745
Property, plant and equipment, net
Variable Interest Entity [Line Items]
Assets	2,745,509	2,578,834
Other assets
Variable Interest Entity [Line Items]
Assets	363,186	206,104
Accounts payable
Variable Interest Entity [Line Items]
Liabilities	37,494	35,831
Other current liabilities
Variable Interest Entity [Line Items]
Liabilities	70,960	32,242
Credit facility borrowings
Variable Interest Entity [Line Items]
Liabilities	105,000	0
Long-term debt
Variable Interest Entity [Line Items]
Liabilities	986,947	985,732
Other liabilities and credits
Variable Interest Entity [Line Items]
Liabilities	$ 9,877	$ 9,562

Consolidated Variable Interes37

Consolidated Variable Interest Entities - Statements of Operations and Cash Flows (Details) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Variable Interest Entity [Line Items]
Operating revenues	$ 207,193	$ 176,772	$ 609,585	$ 540,600
Operating expenses	62,230	51,138	180,218	150,548
Other expenses (income)	2,556	(7,452)	6,418	(9,900)
Net income	142,407	133,086	422,949	399,952
Net cash provided by operating activities	159,911	102,923	479,566	378,042
Net cash used in investing activities	(117,637)	(204,470)	(324,936)	(541,369)
Net cash (used in) provided by financing activities	$ (48,128)	$ 17,454	$ (208,150)	$ (197,367)

Financial Information by Busi38

Financial Information by Business Segment - Schedule of Revenue from External Customers and Operating Income (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segment	Sep. 30, 2016USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			3
Revenues:
Sales of natural gas, oil and NGLs	$ 552,953	$ 403,939	$ 1,803,132	$ 1,072,898
Pipeline and net marketing services	71,735	59,431	222,904	188,770
Gain (loss) on derivatives not designated as hedges	35,625	93,356	222,693	(32,342)
Total operating revenues	660,313	556,726	2,248,729	1,229,326
Reconciliation of operating (loss) income to net (loss) income:
Total operating income (loss)	137,694	108,457	718,132	(88,834)
Other income	6,859	10,715	16,878	23,199
Interest expense	50,377	35,984	137,110	108,469
Income tax (benefit) expense	(11,281)	13,084	119,093	(151,826)
Net income (loss)	105,457	70,104	478,807	(22,278)
Operating Segments | EQT Production
Revenues:
Sales of natural gas, oil and NGLs	552,953	403,939	1,803,132	1,072,898
Pipeline and net marketing services	9,140	10,797	31,656	28,196
Gain (loss) on derivatives not designated as hedges	35,625	93,356	222,693	(32,342)
Total operating revenues	597,718	508,092	2,057,481	1,068,752
Reconciliation of operating (loss) income to net (loss) income:
Total operating income (loss)	12,082	(15,465)	322,277	(468,678)
Operating Segments | EQT Gathering
Revenues:
Sales of natural gas, oil and NGLs	0	0	0	0
Pipeline and net marketing services	116,522	99,141	330,996	297,305
Gain (loss) on derivatives not designated as hedges	0	0	0	0
Total operating revenues	116,522	99,141	330,996	297,305
Reconciliation of operating (loss) income to net (loss) income:
Total operating income (loss)	85,817	72,495	242,716	218,274
Operating Segments | EQT Transmission
Revenues:
Sales of natural gas, oil and NGLs	0	0	0	0
Pipeline and net marketing services	90,671	77,631	278,589	243,295
Gain (loss) on derivatives not designated as hedges	0	0	0	0
Total operating revenues	90,671	77,631	278,589	243,295
Reconciliation of operating (loss) income to net (loss) income:
Total operating income (loss)	59,689	53,715	188,995	174,085
Intersegment Eliminations
Revenues:
Sales of natural gas, oil and NGLs	0	0	0	0
Pipeline and net marketing services	(144,598)	(128,138)	(418,337)	(380,026)
Gain (loss) on derivatives not designated as hedges	0	0	0	0
Total operating revenues	(144,598)	(128,138)	(418,337)	(380,026)
Unallocated Expenses
Reconciliation of operating (loss) income to net (loss) income:
Total operating income (loss)	$ (19,894)	$ (2,288)	$ (35,856)	$ (12,515)

Financial Information by Busi39

Financial Information by Business Segment - Schedule of Segment Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Segment assets:
Total assets	$ 15,984,648	$ 15,472,922
Operating Segments
Segment assets:
Total assets	14,881,331	13,548,711
Operating Segments | EQT Production
Segment assets:
Total assets	12,071,776	10,923,824
Operating Segments | EQT Gathering
Segment assets:
Total assets	1,367,487	1,225,686
Operating Segments | EQT Transmission
Segment assets:
Total assets	1,442,068	1,399,201
Headquarters assets, including cash and short-term investments
Segment assets:
Total assets	$ 1,103,317	$ 1,924,211

Financial Information by Busi40

Financial Information by Business Segment - Schedule of Depreciation, Amortization, and Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Depreciation, depletion and amortization:
Depreciation, depletion and amortization	$ 246,560	$ 237,088	$ 719,295	$ 682,948
Expenditures for segment assets:
Expenditures for segment assets	522,299	793,879	2,081,986	1,606,854
Payments to acquire businesses, gross			818,957	412,348
Operating Segments | EQT Production
Depreciation, depletion and amortization:
Depreciation, depletion and amortization	224,103	220,768	654,411	635,253
Expenditures for segment assets:
Expenditures for segment assets	449,303	622,856	1,850,482	1,094,747
Consideration transferred	52,100	30,100	147,000	98,200
Payments to acquire businesses, gross	7,800	412,300	819,000	412,300
Capital expenditures incurred but not yet paid			7,500	6,200
Operating Segments | EQT Gathering
Depreciation, depletion and amortization:
Depreciation, depletion and amortization	9,983	7,663	28,398	22,520
Expenditures for segment assets:
Expenditures for segment assets	48,182	88,390	150,728	247,755
Operating Segments | EQT Transmission
Depreciation, depletion and amortization:
Depreciation, depletion and amortization	12,261	6,976	35,793	20,657
Expenditures for segment assets:
Expenditures for segment assets	22,312	77,940	73,679	253,957
Other
Depreciation, depletion and amortization:
Depreciation, depletion and amortization	213	1,681	693	4,518
Expenditures for segment assets:
Expenditures for segment assets	$ 2,502	$ 4,693	$ 7,097	$ 10,395

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)BcfMBbls	Dec. 31, 2016USD ($)BcfMBbls
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Deferred net gains in accumulated other comprehensive income (loss), net of tax	$ 5,600,000	$ 9,600,000
Net gains on derivative commodity instruments	$ 1,900,000
Derivative Instruments, Gain (Loss) [Line Items]
Maximum additional collateral as percentage of derivative liability	100.00%
Aggregate fair value of derivative instruments with credit-risk related contingencies	$ 12,800,000
Collateral posted	$ 0
Natural Gas Liquid Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Volume of derivative instruments (in Bcf, Mbbls) | MBbls	1,189	1,095
Cash flow hedging | Commodity derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Volume of derivative instruments (in Bcf, Mbbls) | Bcf	470	646

Derivative Instruments - Design

Derivative Instruments - Designated and Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivatives not designated as hedging instruments
Amount of gain (loss) recognized in operating revenues			$ 222,693	$ (32,342)
Not designated as hedging instrument
Derivatives not designated as hedging instruments
Amount of gain (loss) recognized in operating revenues	$ 35,625	$ 93,356	222,693	(32,342)
Cash flow hedging | Designated as hedging instrument | Commodity derivatives
Commodity/Interest rate derivatives designated as cash flow hedges
Amount of gain (loss) reclassified from accumulated OCI, net of tax (effective portion)	1,451	14,740	4,011	43,104
Cash flow hedging | Designated as hedging instrument | Interest rate derivatives
Commodity/Interest rate derivatives designated as cash flow hedges
Amount of gain (loss) reclassified from accumulated OCI, net of tax (effective portion)	$ (36)	$ (36)	$ (108)	$ (108)

Derivative Instruments - Impact

Derivative Instruments - Impact of Netting Agreements and Margin Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Asset derivatives:
Derivative instruments, recorded in the Condensed Consolidated Balance Sheet, gross	$ 67,555	$ 33,053
Liability derivatives:
Derivative instruments, recorded in the Condensed Consolidated Balance Sheet, gross	71,374	257,943
Commodity derivatives
Asset derivatives:
Derivative instruments, recorded in the Condensed Consolidated Balance Sheet, gross	67,555	33,053
Derivative instruments subject to master netting agreements	(42,886)	(23,373)
Margin deposits remitted to counterparties	0	0
Derivative instruments, net	24,669	9,680
Liability derivatives:
Derivative instruments, recorded in the Condensed Consolidated Balance Sheet, gross	71,374	257,943
Derivative instruments subject to master netting agreements	(42,886)	(23,373)
Margin deposits remitted to counterparties	0	0
Derivative instruments, net	$ 28,488	$ 234,570

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Instrument Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets
Trading securities	$ 0	$ 286,396
Derivative instruments, at fair value	67,555	33,053
Fair value on a recurring basis | Quoted prices in active markets for identical assets (Level 1)
Assets
Trading securities		0
Derivative instruments, at fair value	0	0
Liabilities
Derivative instruments, at fair value	0	0
Fair value on a recurring basis | Significant other observable inputs (Level 2)
Assets
Trading securities		286,396
Derivative instruments, at fair value	67,555	33,053
Liabilities
Derivative instruments, at fair value	71,374	257,943
Fair value on a recurring basis | Significant unobservable inputs (Level 3)
Assets
Trading securities		0
Derivative instruments, at fair value	0	0
Liabilities
Derivative instruments, at fair value	0	0
Fair value on a recurring basis | Fair value
Assets
Trading securities		286,396
Derivative instruments, at fair value	67,555	33,053
Liabilities
Derivative instruments, at fair value	$ 71,374	$ 257,943

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Billions	Sep. 30, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Estimated fair value of long-term debt	$ 3.5	$ 3.5
Carrying value of long-term debt	$ 3.3	$ 3.3

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	19.90%	87.20%

Revolving Credit Facilities (De

Revolving Credit Facilities (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Nov. 15, 2017	Jun. 30, 2017	Dec. 31, 2016
EQM
Line of Credit Facility
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000						$ 750,000,000
Revolving credit facility
Line of Credit Facility
Line of credit facility, maximum borrowing capacity	1,500,000,000
Amount of borrowings		$ 0		$ 0				$ 0
Letters of credit outstanding under revolving credit facility		0		0				0
Maximum amount of outstanding short-term loans at any time during the period		0	$ 0	0	$ 0
Revolving credit facility | EQM
Line of Credit Facility
Amount of borrowings		105,000,000		105,000,000				0
Additional borrowing capacity	$ 500,000,000
Letters of credit outstanding under revolving credit facility		0		0				$ 0
Maximum amount of outstanding short-term loans at any time during the period		177,000,000	91,000,000	177,000,000	299,000,000
Average daily balance of short-term loans outstanding during the period		$ 95,000,000	$ 34,000,000	$ 32,000,000	$ 67,000,000
Weighted average interest rates of average daily balance of short-term loans		2.70%	2.00%	2.70%	1.90%
Revolving credit facility | Scenario, Forecast
Line of Credit Facility
Line of credit facility, maximum borrowing capacity						$ 2,500,000,000

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Potentially dilutive securities included in calculation of diluted EPS (in shares)	199,376		204,080
Options to purchase common stock excluded from potentially dilutive securities (in shares)	425,100	1,712,527	431,190	1,812,142

Changes in Accumulated Other 49

Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning Balance			$ 9,119,247	$ 8,028,042
(Gains) losses reclassified from accumulated OCI, net of tax	$ (1,338)	$ (14,622)	(3,673)	(33,079)
Ending Balance	9,424,677	9,274,279	9,424,677	9,274,279
Cash flow hedges, net of tax | Natural gas cash flow hedges, net of tax
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning Balance	7,047	36,398	9,607	64,762
(Gains) losses reclassified from accumulated OCI, net of tax	(1,451)	(14,740)	(4,011)	(43,104)
Ending Balance	5,596	21,658	5,596	21,658
Cash flow hedges, net of tax | Interest rate cash flow hedges, net of tax
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning Balance	(627)	(771)	(699)	(843)
(Gains) losses reclassified from accumulated OCI, net of tax	36	36	108	108
Ending Balance	(591)	(735)	(591)	(735)
Other post- retirement benefit liability adjustment, net of tax
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning Balance	(6,713)	(7,706)	(6,866)	(17,541)
(Gains) losses reclassified from accumulated OCI, net of tax	77	82	230	9,917
Ending Balance	(6,636)	(7,624)	(6,636)	(7,624)
Accumulated OCI, net of tax
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning Balance	(293)	27,921	2,042	46,378
Ending Balance	$ (1,631)	$ 13,299	$ (1,631)	$ 13,299

Acquisitions (Details)

Acquisitions (Details) a in Thousands, Mcfe in Thousands, $ in Thousands	Jun. 30, 2017USD ($)a	Feb. 27, 2017USD ($)aMcfewellmi	Feb. 01, 2017USD ($)a	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Business Acquisition [Line Items]
Payments to acquire businesses, gross				$ 818,957	$ 412,348
Bankruptcy Auction
Business Acquisition [Line Items]
Area of property acquired (in acres) | a		85
Payments to acquire businesses, gross		$ 523,500
Number of acres with drilling rights (in acres) | a		44
Production of well (in MMcfe) | Mcfe		110
Number of wells acquired | well		174
Number of miles of pipeline acquired | mi		20
Allegheny, Washington, and Westmore Counties
Business Acquisition [Line Items]
Area of property acquired (in acres) | a	11
Payments to acquire businesses, gross	$ 83,700
2017 Acquisitions
Business Acquisition [Line Items]
Payments to acquire businesses, gross				740,100
PP&E acquired	750,100
Current liabilities assumed	5,300
Noncurrent liabilities assumed	$ 4,700
2016 Acquisitions
Business Acquisition [Line Items]
Payments to acquire businesses, gross				78,900
Adjustment to PP&E				$ 2,500
Marion, Monongalia, and Wetzel Counties
Business Acquisition [Line Items]
Area of property acquired (in acres) | a			14
Payments to acquire businesses, gross			$ 132,900

Rice Merger (Details)

Rice Merger (Details)	Nov. 15, 2017USD ($)$ / shares	Sep. 30, 2017USD ($)	Feb. 19, 2018USD ($)	Jul. 14, 2017bank	Jun. 19, 2017USD ($)
Unsecured Debt | Bridge Facility
Business Acquisition [Line Items]
Debt instrument, face amount					$ 1,400,000,000
Number of additional banks in financing commitment | bank				16
Amortization of debt issuance costs		$ 7,600,000
Scenario, Forecast | Rice Merger Agreement
Business Acquisition [Line Items]
Common share conversion ratio	0.37
Cash conversion (in dollars per share) | $ / shares	$ 5.30
Consideration transferred	$ 6,700,000,000
Debt assumed	$ 2,200,000,000
Business combination, termination fee			$ 255,000,000
Business combination, termination reimbursement amount			$ 67,000,000
Scenario, Forecast | Rice Merger Agreement | EQT Shareholders
Business Acquisition [Line Items]
Percentage of business owned after transaction	65.00%
Scenario, Forecast | Rice Merger Agreement | Rice Shareholders
Business Acquisition [Line Items]
Percentage of business owned after transaction	35.00%

Subsequent Event (Details)

Subsequent Event (Details) - USD ($)	May 19, 2018	Oct. 04, 2017	Oct. 31, 2017
Scenario, Forecast
Debt Instrument [Line Items]
Redemption price, percentage of principal amount of notes to be redeemed	101.00%
Subsequent Event
Debt Instrument [Line Items]
Net proceeds from offering		$ 2,974,300,000
Floating Rate Notes | Floating Rate Notes due 2020 | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount		500,000,000
Senior Notes | 2.50% Senior Notes Due 2020 | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount		$ 500,000,000
Stated interest rate		2.50%
Senior Notes | 3.00% Senior Notes Due 2022 [Member] | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount		$ 750,000,000
Stated interest rate		3.00%
Senior Notes | 3.90% Senior Notes Due 2027 | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount		$ 1,250,000,000
Stated interest rate		3.90%
Senior Notes | 5.15% Senior Notes Due 2018 | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount			$ 200,000,000
Stated interest rate			5.15%
Senior Notes | 6.50% Senior Notes Due 2018 | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount			$ 500,000,000
Stated interest rate			6.50%