EQT (EQT) 10-Q 28 Jul 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-03551
Entity Registrant Name	EQT CORPORATION
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-0464690
Entity Address, Street	625 Liberty Avenue
Entity Address, Suite	Suite 1700
Entity Address, City or Town	Pittsburgh
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15222
City Area Code	412
Local Phone Number	553-5700
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	EQT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		369,956,790
Entity Central Index Key	0000033213
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

STATEMENTS OF CONDENSED CONSOLI

STATEMENTS OF CONDENSED CONSOLIDATED OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating revenues:
Sales of natural gas, natural gas liquids and oil	$ 3,365,211	$ 1,077,904	$ 5,851,835	$ 2,208,855
Loss on derivatives	(845,095)	(1,345,532)	(3,922,732)	(1,534,345)
Total operating revenues	2,527,508	(260,116)	1,948,398	689,807
Operating expenses:
Transportation and processing	539,704	464,016	1,055,808	909,800
Production	82,556	47,546	153,568	94,776
Exploration	1,741	1,779	2,513	2,728
Selling, general and administrative	59,276	49,853	128,372	94,859
Depreciation and depletion	429,143	380,288	851,241	757,404
Gain on sale/exchange of long-lived assets	(981)	(16,816)	(2,190)	(18,023)
Impairment of contract asset	0	0	184,945	0
Impairment and expiration of leases	47,048	25,634	77,039	42,391
Other operating expenses	7,120	5,225	23,467	14,668
Total operating expenses	1,165,607	957,525	2,474,763	1,898,603
Operating income (loss)	1,361,901	(1,217,641)	(526,365)	(1,208,796)
(Income) loss from investments	(3,577)	(11,829)	17,208	(23,677)
Dividend and other income	(7,313)	(3,765)	(10,909)	(7,069)
Loss on debt extinguishment	104,348	5,332	111,271	9,756
Interest expense	65,985	72,254	133,887	142,727
Income (loss) before income taxes	1,202,458	(1,279,633)	(777,822)	(1,330,533)
Income tax expense (benefit)	308,234	(346,311)	(157,463)	(359,270)
Net income (loss)	894,224	(933,322)	(620,359)	(971,263)
Less: Net income (loss) attributable to noncontrolling interests	2,863	(62)	4,328	(576)
Net income (loss) attributable to EQT Corporation	$ 891,361	$ (933,260)	$ (624,687)	$ (970,687)
Income (loss) per share of common stock attributable to EQT Corporation:
Weighted average common stock outstanding - Basic (in shares)	369,866	279,156	372,023	278,996
Net income (loss) - Basic (in dollars per share)	$ 2.41	$ (3.34)	$ (1.68)	$ (3.48)
Weighted average common stock outstanding - Diluted (in shares)	407,303	279,156	372,023	278,996
Net income (loss) - Diluted (in dollars per share)	$ 2.19	$ (3.34)	$ (1.68)	$ (3.48)
Sales of natural gas, natural gas liquids and oil
Operating revenues:
Sales of natural gas, natural gas liquids and oil	$ 3,365,211	$ 1,077,904	$ 5,851,835	$ 2,208,855
Net marketing services and other
Operating revenues:
Net marketing services and other	$ 7,392	$ 7,512	$ 19,295	$ 15,297

STATEMENTS OF CONDENSED CONSO_2

STATEMENTS OF CONDENSED CONSOLIDATED COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 894,224	$ (933,322)	$ (620,359)	$ (971,263)
Other comprehensive income, net of tax:
Other postretirement benefits liability adjustment, net of tax expense: $21, $27, $41 and $54	64	81	127	161
Comprehensive income (loss)	894,288	(933,241)	(620,232)	(971,102)
Less: Comprehensive income (loss) attributable to noncontrolling interests	2,863	(62)	4,328	(576)
Comprehensive income (loss) attributable to EQT Corporation	$ 891,425	$ (933,179)	$ (624,560)	$ (970,526)

STATEMENTS OF CONDENSED CONSO_3

STATEMENTS OF CONDENSED CONSOLIDATED COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Other post-retirement benefits liability adjustment, tax expense	$ 21	$ 27	$ 41	$ 54

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 43,745	$ 113,963
Accounts receivable (less provision for doubtful accounts: $475 and $321)	2,058,953	1,438,031
Derivative instruments, at fair value	1,409,199	543,337
Prepaid expenses and other	573,732	191,435
Total current assets	4,085,629	2,286,766
Property, plant and equipment	26,640,549	26,016,092
Less: Accumulated depreciation and depletion	8,438,478	7,597,172
Net property, plant and equipment	18,202,071	18,418,920
Contract asset	29,250	410,000
Other assets	304,714	491,702
Total assets	22,621,664	21,607,388
Current liabilities:
Current portion of debt	440,900	1,060,970
Accounts payable	1,700,406	1,339,251
Derivative instruments, at fair value	4,568,003	2,413,608
Other current liabilities	480,438	372,412
Total current liabilities	7,189,747	5,186,241
Credit facility borrowings	100,000	0
Senior notes	4,409,727	4,435,782
Note payable to EQM Midstream Partners, LP	91,442	94,320
Deferred income taxes	742,670	907,306
Other liabilities and credits	997,988	1,012,740
Total liabilities	13,531,574	11,636,389
Equity:
Common stock, no par value, shares authorized: 640,000, shares issued: 369,912 and 377,432	9,948,646	10,071,820
Treasury stock, shares at cost: 192 and 1,033	(2,848)	(18,046)
Accumulated deficit	(880,127)	(94,400)
Accumulated other comprehensive loss	(4,484)	(4,611)
Total common shareholders' equity	9,061,187	9,954,763
Noncontrolling interest in consolidated subsidiaries	28,903	16,236
Total equity	9,090,090	9,970,999
Total liabilities and equity	$ 22,621,664	$ 21,607,388

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Provision for doubtful accounts	$ 475	$ 321
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares (in shares)	640,000,000	640,000,000
Common stock, shares issued (in shares)	369,912,000	377,432,000
Treasury stock, shares at cost (in shares)	192,000	1,033,000

STATEMENTS OF CONDENSED CONSO_4

STATEMENTS OF CONDENSED CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income (loss)	$ (620,359)	$ (971,263)
Adjustments to reconcile net loss to net cash provided by operating activities:
Deferred income tax benefit	(164,677)	(359,229)
Depreciation and depletion	851,241	757,404
Impairments of long-lived assets and gain on sale/exchange of long-lived assets	259,794	24,368
Loss (income) from investments	17,208	(23,677)
Loss on debt extinguishment	111,271	9,756
Share-based compensation expense	21,558	13,515
Amortization, accretion and other	31,256	12,739
Loss on derivatives	3,922,732	1,534,345
Net cash settlements paid on derivatives	(2,639,271)	(109,581)
Net premiums received on derivative instruments	14,073	3,654
Changes in other assets and liabilities:
Accounts receivable	(626,620)	(99,564)
Accounts payable	360,208	111,191
Other current assets	(190,358)	(422,618)
Other items, net	(96,416)	(37,646)
Net cash provided by operating activities	1,251,640	443,394
Cash flows from investing activities:
Capital expenditures	(684,972)	(470,259)
Cash paid for acquisitions	0	(209,764)
Proceeds from sale/exchange of assets	2,414	0
Proceeds from sale of investment shares	189,249	0
Other investing activities	(14,376)	5,125
Net cash used in investing activities	(507,685)	(674,898)
Cash flows from financing activities:
Proceeds from credit facility borrowings	6,237,000	2,686,000
Repayment of credit facility borrowings	(6,137,000)	(2,986,000)
Proceeds from issuance of debt	0	1,000,000
Debt issuance costs	(9,154)	(19,713)
Repayment and retirement of debt	(576,640)	(127,691)
Premiums paid on debt extinguishment	(15,128)	(9,599)
Dividends paid	(93,272)	0
Cash paid for taxes related to net settlement of share-based incentive awards	(13,742)	(2,683)
Proceeds from exercises under employee compensation plans	13,882	0
Repurchase and retirement of common stock	(216,491)	0
(Distribution to) contribution from noncontrolling interest	(2,894)	3,750
Other financing activities	(734)	0
Net cash (used in) provided by financing activities	(814,173)	544,064
Net change in cash and cash equivalents	(70,218)	312,560
Cash and cash equivalents at beginning of period	113,963	18,210
Cash and cash equivalents at end of period	$ 43,745	$ 330,770

STATEMENTS OF CONDENSED CONSO_5

STATEMENTS OF CONDENSED CONSOLIDATED EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss		Noncontrolling Interest in Consolidated Subsidiaries
Beginning balance (in shares) at Dec. 31, 2020		278,345
Beginning balance at Dec. 31, 2020	$ 9,174,952	$ 8,145,539	$ (29,348)	$ 1,056,626	$ (5,355)	[1]	$ 7,490
Comprehensive income (loss), net of tax:
Net income (loss)	(971,263)			(970,687)			(576)
Other post-retirement benefits liability adjustment, net of tax expense	161				161	[1]
Share-based compensation plans (in shares)		513
Share-based compensation plans	13,332	$ 4,068	9,264
Contribution from noncontrolling interest	3,750						3,750
Convertible Notes settlements (Note 6)	0
Ending balance (in shares) at Jun. 30, 2021		278,858
Ending balance at Jun. 30, 2021	8,220,932	$ 8,149,607	(20,084)	85,939	(5,194)	[1]	10,664
Beginning balance (in shares) at Mar. 31, 2021		278,781
Beginning balance at Mar. 31, 2021	9,145,679	$ 8,142,498	(21,469)	1,019,199	(5,275)	[2]	10,726
Comprehensive income (loss), net of tax:
Net income (loss)	(933,322)			(933,260)			(62)
Other post-retirement benefits liability adjustment, net of tax expense	81				81	[2]
Share-based compensation plans (in shares)		77
Share-based compensation plans	8,494	$ 7,109	1,385
Ending balance (in shares) at Jun. 30, 2021		278,858
Ending balance at Jun. 30, 2021	8,220,932	$ 8,149,607	(20,084)	85,939	(5,194)	[1]	10,664
Beginning balance (in shares) at Dec. 31, 2021		376,399
Beginning balance at Dec. 31, 2021	9,970,999	$ 10,071,820	(18,046)	(94,400)	(4,611)	[1]	16,236
Comprehensive income (loss), net of tax:
Net income (loss)	(620,359)			(624,687)			4,328
Other post-retirement benefits liability adjustment, net of tax expense	127				127	[1]
Dividends	(93,272)			(93,272)
Share-based compensation plans (in shares)		1,852
Share-based compensation plans	24,246	$ 9,048	15,198
Convertible Notes settlements (Note 6) (in shares)		2
Convertible Notes settlements (Note 6)	38	$ 38
Repurchase and retirement of common stock (in shares)		(8,533)
Repurchase and retirement of common stock	(200,028)	$ (132,260)		(67,768)
Distribution to noncontrolling interest	(2,894)						(2,894)
Other	11,233						11,233
Ending balance (in shares) at Jun. 30, 2022		369,720
Ending balance at Jun. 30, 2022	9,090,090	$ 9,948,646	(2,848)	(880,127)	(4,484)	[1]	28,903
Beginning balance (in shares) at Mar. 31, 2022		369,074
Beginning balance at Mar. 31, 2022	8,206,033	$ 9,921,348	(2,848)	(1,725,279)	(4,548)	[2]	17,360
Comprehensive income (loss), net of tax:
Net income (loss)	894,224			891,361			2,863
Other post-retirement benefits liability adjustment, net of tax expense	64				64	[2]
Dividends	(46,209)			(46,209)
Share-based compensation plans (in shares)		645
Share-based compensation plans	27,268	$ 27,268
Convertible Notes settlements (Note 6) (in shares)		1
Convertible Notes settlements (Note 6)	30	$ 30
Distribution to noncontrolling interest	(2,553)						(2,553)
Other	11,233						11,233
Ending balance (in shares) at Jun. 30, 2022		369,720
Ending balance at Jun. 30, 2022	$ 9,090,090	$ 9,948,646	$ (2,848)	$ (880,127)	$ (4,484)	[1]	$ 28,903
[1]Amounts included in accumulated other comprehensive loss are related to other postretirement benefits liability adjustments, net of tax, which are attributable to net actuarial losses and net prior service costs.[2]Amounts included in accumulated other comprehensive loss are related to other postretirement benefits liability adjustments, net of tax, which are attributable to net actuarial losses and net prior service costs.

STATEMENTS OF CONDENSED CONSO_6

STATEMENTS OF CONDENSED CONSOLIDATED EQUITY (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Other post-retirement benefits liability adjustment, tax expense	$ 21	$ 27	$ 41	$ 54
Dividends (in dollars per share)	$ 0.125		$ 0.25
Common stock, authorized shares (in shares)	640,000,000	640,000,000	640,000,000	640,000,000
Preferred stock authorized (in shares)	3,000,000	3,000,000	3,000,000	3,000,000
Preferred stock issued (in shares)	0	0	0	0
Preferred stock outstanding (in shares)	0	0	0	0

Financial Statements

Financial Statements	6 Months Ended
	Jun. 30, 2022
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 information and notes required by 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 Quarterly Report on Form 10-Q) necessary for a fair presentation of the financial position of EQT Corporation and subsidiaries as of June 30, 2022 and December 31, 2021, the results of its operations and equity for the three and six month periods ended June 30, 2022 and 2021 and its cash flows for the six month periods ended June 30, 2022 and 2021. Certain previously reported amounts have been reclassified to conform to the current year presentation. In this Quarterly Report on Form 10-Q, references to "EQT," "EQT Corporation" and "the Company" refer collectively to EQT Corporation and its consolidated subsidiaries. These financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. Recently Issued Accounting Standards In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2020-06, Debt with Conversion and Other Options and Derivatives and Hedging: Accounting for Convertible Instruments and Contracts in an Entity's Own Equity . This ASU simplifies accounting for convertible instruments by removing certain separation models for convertible instruments. For convertible instruments with conversion features that are not accounted for as derivatives under Accounting Standards Codification 815 or that do not result in substantial premiums accounted for as paid-in capital, the convertible instrument's embedded conversion features are no longer separated from the host contract. Consequently, and as long as no other feature requires bifurcation and recognition as a derivative, the convertible instrument is accounted for as a single liability measured at its amortized cost. Under ASU 2020-06, entities are required to use the if-converted method to calculate the impact of convertible instruments on diluted earnings per share (EPS). The if-converted method assumes share settlement of the instrument, which increases the number of potentially dilutive securities used to calculate diluted EPS. This ASU also adds several new disclosure requirements. The Company adopted this ASU effective as of January 1, 2022 using the full retrospective method of adoption. The following tables present the impact of the adoption of ASU 2020-06 on the Company's previously reported historical results. See Note 6 for discussion of the Convertible Notes (defined in Note 6). Three Months Ended June 30, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands, except per share amounts) Interest expense $ 76,986 $ (4,732) $ 72,254 Income tax benefit (347,846) 1,535 (346,311) Net loss (936,519) 3,197 (933,322) Less: Net loss attributable to noncontrolling interest (62) — (62) Net loss attributable to EQT Corporation $ (936,457) $ 3,197 $ (933,260) Basic and diluted: Weighted average common stock outstanding (a) 279,156 — 279,156 Loss per share of common stock attributable to EQT Corporation $ (3.35) $ 0.01 $ (3.34) (a) For the three months ended June 30, 2021, diluted weighted average common stock outstanding did not change because the potentially dilutive securities had an anti-dilutive effect on loss per share. Six Months Ended June 30, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands, except per share amounts) Interest expense $ 152,085 $ (9,358) $ 142,727 Income tax benefit (362,340) 3,070 (359,270) Net loss (977,551) 6,288 (971,263) Less: Net loss attributable to noncontrolling interest (576) — (576) Net loss attributable to EQT Corporation $ (976,975) $ 6,288 $ (970,687) Basic and diluted: Weighted average common stock outstanding (a) 278,996 — 278,996 Loss per share of common stock attributable to EQT Corporation $ (3.50) $ 0.02 $ (3.48) (a) For the six months ended June 30, 2021, diluted weighted average common stock outstanding did not change because the potentially dilutive securities had an anti-dilutive effect on loss per share. December 31, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands) Current portion of debt (a) $ 954,900 $ 106,070 $ 1,060,970 Deferred income taxes 938,612 (31,306) 907,306 Common stock, no par value 10,167,963 (96,143) 10,071,820 Accumulated deficit (115,779) 21,379 (94,400) (a) Pursuant to the terms of the Convertible Notes indenture, a sale price condition for conversion of the Convertible Notes was satisfied as of December 31, 2021, and, accordingly, holders of the Convertible Notes were permitted to convert any of their Convertible Notes at their option at any time during the three months ended March 31, 2022, subject to all terms and conditions set forth in the Convertible Notes indenture. Therefore, as of December 31, 2021, the net carrying value of the Convertible Notes was included in current portion of debt in the Consolidated Balance Sheet. Certain line items in the Statement of Condensed Consolidated Cash Flows for the six months ended June 30, 2021 were adjusted to reflect the impact of the adoption of ASU 2020-06; however, the adoption did not impact cash and did not change net cash provided by operating, investing or financing activities. Supplemental Cash Flow Information . The following table summarizes net cash paid for interest and income taxes and non-cash activity included in the Statements of Condensed Consolidated Cash Flows. Six Months Ended June 30, 2022 2021 (Thousands) Cash paid during the period for: Interest, net of amount capitalized $ 133,269 $ 127,082 Income taxes, net 6,415 21,768 Non-cash activity during the period for: Increase in asset retirement costs and obligations $ 10,245 $ 1,943 Capitalization of non-cash equity share-based compensation 2,550 2,499 Increase in right-of-use assets and lease liabilities, net 819 1,091 Issuance of common stock for Convertible Notes settlements (see Note 6) 38 —

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Under the Company's natural gas, natural gas liquids (NGLs) and oil sales contracts, the Company generally considers the delivery of each unit (MMBtu or Bbl) to be a separate performance obligation that is satisfied upon delivery. These contracts typically require payment within 25 days of the end of the calendar month in which the commodity is delivered. A significant number of these contracts contain variable consideration because the payment terms refer to market prices at future delivery dates. In these situations, the Company has not identified a standalone selling price because the terms of the variable payments relate specifically to the Company's efforts to satisfy the performance obligations. Other contracts, such as fixed price contracts or contracts with a fixed differential to New York Mercantile Exchange (NYMEX) or index prices, contain fixed consideration. The fixed consideration is allocated to each performance obligation on a relative standalone selling price basis, which requires judgment from management. For these contracts, the Company generally concludes that the fixed price or fixed differentials in the contracts are representative of the standalone selling price. Based on management's judgment, the performance obligations for the sale of natural gas, NGLs and oil are satisfied at a point in time because the customer obtains control and legal title of the asset when the natural gas, NGLs or oil is delivered to the designated sales point. The sales of natural gas, NGLs and oil presented in the Statements of Condensed Consolidated Operations represent the Company's share of revenues net of royalties and exclude revenue interests owned by others. When selling natural gas, NGLs and oil on behalf of royalty or working interest owners, the Company acts as an agent and, thus, reports the revenue on a net basis. For contracts with customers where the Company's performance obligations had been satisfied and an unconditional right to consideration existed as of the balance sheet date, the Company recorded amounts due from contracts with customers of $1,558.1 million and $1,093.9 million in accounts receivable in the Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021, respectively. The table below provides disaggregated information on the Company's revenues. Certain other revenue contracts are outside the scope of ASU 2014-09, Revenue from Contracts with Customers . These contracts are reported in net marketing services and other in the Statements of Condensed Consolidated Operations. Derivative contracts are also outside the scope of ASU 2014-09. Three Months Ended Six Months Ended 2022 2021 2022 2021 (Thousands) Revenues from contracts with customers: Natural gas sales $ 3,175,155 $ 953,385 $ 5,464,520 $ 1,966,465 NGLs sales 167,849 102,361 341,352 202,618 Oil sales 22,207 22,158 45,963 39,772 Total revenues from contracts with customers $ 3,365,211 $ 1,077,904 $ 5,851,835 $ 2,208,855 Other sources of revenue: Loss on derivatives (845,095) (1,345,532) (3,922,732) (1,534,345) Net marketing services and other 7,392 7,512 19,295 15,297 Total operating revenues $ 2,527,508 $ (260,116) $ 1,948,398 $ 689,807 The following table summarizes the transaction price allocated to the Company's remaining performance obligations on all contracts with fixed consideration as of June 30, 2022. Amounts shown exclude contracts that qualified for the exception to the relative standalone selling price method as of June 30, 2022. 2022 (a) 2023 Total (Thousands) Natural gas sales $ 12,148 $ 10,747 $ 22,895 (a) July 1 through December 31.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2022
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 Company's operating results. The Company uses derivative commodity instruments to hedge its cash flows from sales of produced natural gas and NGLs. The overall objective of the Company's hedging program is to protect cash flows from undue exposure to the risk of changing commodity prices. The derivative commodity instruments used by the Company are primarily swap, collar and option agreements. These agreements may require payments to, or receipt of payments from, counterparties based on the differential between two prices for the commodity. The Company uses these agreements to hedge its NYMEX and basis exposure. The Company may also use other contractual agreements when executing its commodity hedging strategy. The Company typically enters into over the counter (OTC) derivative commodity instruments with financial institutions, and the creditworthiness of all counterparties is regularly monitored. The Company does not designate any of its derivative instruments as cash flow hedges; therefore, all changes in fair value of the Company's derivative instruments are recognized in operating revenues in loss on derivatives in the Statements of Condensed Consolidated Operations. Because the Company does not designate any of its derivative instruments as cash flow hedges, the Company has changed the references to "derivatives not designated as hedges" to "derivatives" throughout the Condensed Consolidated Financial Statements as of and for the three and six months ended June 30, 2022. 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. Contracts that result in physical delivery of a commodity expected to be sold by the Company in the normal course of business are generally designated as normal sales and are exempt from derivative accounting. Contracts that result in the physical receipt or delivery of a commodity but are not designated or do not meet all of the criteria to qualify for the normal purchase and normal sale scope exception are subject to derivative accounting. The Company's OTC derivative instruments generally require settlement in cash. The Company also enters into exchange traded derivative commodity instruments that are generally settled with offsetting positions. Settlements of derivative commodity instruments are reported as a component of cash flows from operating activities in the Statements of Condensed Consolidated Cash Flows. With respect to the derivative commodity instruments held by the Company, the Company hedged portions of its expected sales of production and portions of its basis exposure covering approximately 2,227 billion cubic feet (Bcf) of natural gas and 1,830 thousand barrels (Mbbl) of NGLs as of June 30, 2022 and 2,184 Bcf of natural gas and 3,055 Mbbl of NGLs as of December 31, 2021. The open positions at both June 30, 2022 and December 31, 2021 had maturities extending through December 2027. Certain of the Company's OTC derivative instrument contracts provide that, if the Company's credit rating assigned by Moody's Investors Service, Inc. (Moody's), S&P Global Ratings (S&P) or Fitch Ratings Service (Fitch) is below the agreed-upon credit rating threshold (typically, below investment grade) and if the associated derivative liability exceeds the agreed-upon dollar threshold for such credit rating, the counterparty to such contract can require the Company to deposit collateral. Similarly, if such counterparty's credit rating assigned by Moody's, S&P or Fitch is below the agreed-upon credit rating threshold and if the associated derivative liability exceeds the agreed-upon dollar threshold for such credit rating, the Company can require the counterparty to deposit collateral with the Company. Such collateral can be up to 100% of the derivative liability. Investment grade refers to the quality of a company's credit as assessed by one or more credit rating agencies. To be considered investment grade, a company must be rated "Baa3" or higher by Moody's, "BBB–" or higher by S&P and "BBB–" or higher by Fitch. Anything below these ratings is considered non-investment grade. As of June 30, 2022, the Company's senior notes were rated "Ba1" by Moody's, "BBB–" by S&P and "BBB–" by Fitch. When the net fair value of any of the Company's OTC derivative instrument contracts represents a liability to the Company that is in excess of the agreed-upon dollar threshold for the Company's then-applicable credit rating, the counterparty has the right to require the Company to remit funds as a margin deposit in an amount equal to the portion of the derivative liability that is in excess of the dollar threshold amount. The Company records these deposits as a current asset in the Condensed Consolidated Balance Sheets. As of June 30, 2022 and December 31, 2021, the aggregate fair value of all OTC derivative instruments with credit rating risk-related contingent features that were in a net liability position was $465.0 million and $594.9 million, respectively, for which the Company deposited and recorded current assets of $238.0 million and $0.1 million, respectively. When the net fair value of any of the Company's OTC derivative instrument contracts represents an asset to the Company that is in excess of the agreed-upon dollar threshold for the counterparty's then-applicable credit rating, the Company has the right to require the counterparty to remit funds as a margin deposit in an amount equal to the portion of the derivative asset that is in excess of the dollar threshold amount. The Company records these deposits as a current liability in the Condensed Consolidated Balance Sheets. As of both June 30, 2022 and December 31, 2021, there were no such deposits recorded in the Condensed Consolidated Balance Sheets. When the Company enters into exchange traded natural gas contracts, exchanges may require the Company to remit funds to the corresponding broker as good-faith deposits to guard against the risks associated with changing market conditions. The Company is required to make such deposits based on an established initial margin requirement and the net liability position, if any, of the fair value of the associated contracts. The Company records these deposits as a current asset in the Condensed Consolidated Balance Sheets. When the fair value of such contracts is in a net asset position, the broker may remit funds to the Company. The Company records these deposits as a current liability in the Condensed Consolidated Balance Sheets. The initial margin requirements are established by the exchanges based on the price, volatility and the time to expiration of the contract. The margin requirements are subject to change at the exchanges' discretion. As of June 30, 2022 and December 31, 2021, the Company recorded $109.4 million and $147.7 million, respectively, of such deposits as current assets in the Condensed Consolidated Balance Sheets. 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 summarizes the impact of netting agreements and margin deposits on gross derivative assets and liabilities. Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets Derivative instruments subject to Margin requirements with counterparties Net derivative instruments (Thousands) June 30, 2022 Asset derivative instruments, at fair value $ 1,409,199 $ (1,363,094) $ — $ 46,105 Liability derivative instruments, at fair value 4,568,003 (1,363,094) (347,426) 2,857,483 December 31, 2021 Asset derivative instruments, at fair value $ 543,337 $ (468,266) $ — $ 75,071 Liability derivative instruments, at fair value 2,413,608 (468,266) (147,773) 1,797,569 The Consolidated GGA (defined in Note 8) executed in connection with the Equitrans Share Exchange (defined in Note 8) provides for additional cash bonus payments (the Henry Hub Cash Bonus) payable by the Company during the period beginning on the first day of the quarter in which the Mountain Valley Pipeline is placed in service and ending on the earlier of 36 months thereafter or December 31, 2024. Such payments are conditioned upon the quarterly average of the NYMEX Henry Hub natural gas settlement price exceeding certain price thresholds. As of June 30, 2022 and December 31, 2021, the derivative liability related to the Henry Hub Cash Bonus had a fair value of approximately $53 million and $111 million, respectively. The fair value of the derivative liability related to the Henry Hub Cash Bonus is based on significant inputs that are interpolated from observable market data and, as such, is a Level 2 fair value measurement. See Note 4 for a description of the fair value hierarchy. During the second quarter of 2020, the Company closed a transaction to sell certain non-strategic assets located in Pennsylvania and West Virginia (the 2020 Divestiture), the purchase and sale agreement for which, among other things, provides for additional cash bonus payments (the Contingent Consideration) payable to the Company of up to $20 million, conditioned upon the three-month average of the NYMEX Henry Hub natural gas settlement price relative to stated floor and target price thresholds beginning on August 31, 2020 and ending on November 30, 2022. As of June 30, 2022 and December 31, 2021, the derivative asset related to the Contingent Consideration had a fair value of approximately $3.9 million and $8.2 million, respectively. During the six months ended June 30, 2022 and 2021, the Company received cash from the Contingent Consideration of $4.5 million and $0.6 million, respectively. Changes in fair value are recorded in gain on sale/exchange of long-lived assets in the Statements of Condensed Consolidated Operations. The fair value of the derivative asset related to the Contingent Consideration is based on significant inputs that are interpolated from observable market data and, as such, is a Level 2 fair value measurement. See Note 4 for a description of the fair value hierarchy.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company records its financial instruments, which are principally derivative instruments, at fair value in the Condensed Consolidated Balance Sheets. The Company estimates the fair value of its financial instruments using quoted market prices when available. If quoted market prices are not available, the fair value is based on models that use market-based parameters, including forward curves, discount rates, volatilities and nonperformance risk, as inputs. 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 on a risk-free instrument. 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 that use Level 2 inputs primarily include the Company's swap, collar and option agreements. Exchange traded commodity swaps have Level 1 inputs. The fair value of the commodity swaps with Level 2 inputs is based on standard industry income approach models that use significant observable inputs, including, but not limited to, NYMEX natural gas forward curves, LIBOR-based discount rates, basis forward curves and NGLs forward curves. The Company's collars and options are valued using standard industry income approach option models. The significant observable inputs used by the option pricing models include NYMEX forward curves, natural gas volatilities and LIBOR-based discount rates. The table below summarizes assets and liabilities measured at fair value on a recurring basis. Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets Fair value measurements at reporting date using: Quoted prices in active Significant other observable inputs Significant unobservable inputs (Thousands) June 30, 2022 Asset derivative instruments, at fair value $ 1,409,199 $ 297,009 $ 1,112,190 $ — Liability derivative instruments, at fair value 4,568,003 222,871 4,345,132 — December 31, 2021 Asset derivative instruments, at fair value $ 543,337 $ 66,833 $ 476,504 $ — Liability derivative instruments, at fair value 2,413,608 126,053 2,287,555 — The carrying values of cash equivalents, accounts receivable and accounts payable approximate fair value due to their short-term maturities. The December 31, 2021 carrying value of the Company's investment in Equitrans Midstream Corporation (Equitrans Midstream) approximates fair value as Equitrans Midstream is a publicly traded company. In April 2022, the Company sold the remaining balance of its Equitrans Midstream common stock for net proceeds of approximately $189 million. The carrying value of borrowings under the Company's credit facility approximates fair value as the interest rate is based on prevailing market rates. The Company considered all of these fair values to be Level 1 fair value measurements. The Company has an investment in a fund (the Investment Fund) that invests in companies developing technology and operating solutions for exploration and production companies. The investment is valued using, as a practical expedient, the net asset value provided in the financial statements received from fund managers. The Company estimates the fair value of its senior notes using established fair value methodology. Because not all of the Company's senior notes are actively traded, their fair value is a Level 2 fair value measurement. As of June 30, 2022 and December 31, 2021, the Company's senior notes had a fair value of approximately $5.4 billion and $6.5 billion, respectively, and a carrying value of approximately $4.8 billion and $5.5 billion, respectively, inclusive of any current portion. The fair value of the Company's note payable to EQM Midstream Partners, LP (EQM) is estimated using an income approach model with a market-based discount rate and is a Level 3 fair value measurement. As of June 30, 2022 and December 31, 2021, the Company's note payable to EQM had a fair value of approximately $102 million and $118 million, respectively, and a carrying value of approximately $97 million and $100 million, respectively, inclusive of any current portion. See Note 6 for further discussion of the Company's debt. 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. See Note 3 for a discussion of the fair value measurement of the derivative liability recorded in connection with the Equitrans Share Exchange and the embedded derivative recorded in connection with the 2020 Divestiture. See Note 8 for a discussion of the fair value measurement of the contract asset. See Note 1 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 for a discussion of the fair value measurement of the Company's oil and gas properties and other long-lived assets, including impairment and expiration of leases.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the six months ended June 30, 2022 and 2021, the Company calculated the provision for income taxes for interim periods by applying an estimate of 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 period. There were no material changes to the Company's methodology for determining unrecognized tax benefits during the six months ended June 30, 2022. The Company recorded income tax benefit at an effective tax rate of 20.2% and 27.0% for the six months ended June 30, 2022 and 2021, respectively. The Company's effective tax rate for the six months ended June 30, 2022 was lower compared to the U.S. federal statutory rate due primarily to nondeductible repurchase premiums on the Convertible Notes, partly offset by state taxes, including valuation allowances limiting certain state tax benefits. The Company's effective tax rate for the six months ended June 30, 2021 was higher compared to the U.S. federal statutory rate due primarily to state taxes, including valuation allowances limiting certain state tax benefits and West Virginia tax legislation enacted on April 13, 2021 that changed the way taxable income is apportioned to West Virginia for tax years beginning on or after January 1, 2022. On July 8, 2022, the Pennsylvania General Assembly enacted House Bill 1342, which reduces the corporate net income tax rate from 9.99% to 8.99% in 2023 and continues to reduce that rate by 0.5% per year beginning in 2024 and ending at 4.99% in 2031 and thereafter. The Company is evaluating the impact this change in law will have on the Company's consolidated financial statements.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt The table below summarizes the Company's outstanding debt. June 30, 2022 December 31, 2021 Principal Value Carrying Value (a) Principal Value Carrying Value (a) (Thousands) Credit Facility expiring June 28, 2027 $ 100,000 $ 100,000 $ — $ — Senior notes: 3.00% notes due October 1, 2022 — — 568,823 567,909 7.42% series B notes due 2023 10,000 10,000 10,000 10,000 6.625% notes due February 1, 2025 (b) 995,315 990,848 1,000,000 994,643 1.75% convertible notes due May 1, 2026 434,856 425,225 499,991 487,543 3.125% notes due May 15, 2026 497,694 491,661 500,000 493,157 7.75% debentures due July 15, 2026 115,000 112,970 115,000 112,721 3.90% notes due October 1, 2027 1,250,000 1,243,919 1,250,000 1,243,340 5.00% notes due January 15, 2029 349,565 344,771 350,000 344,835 7.500% notes due February 1, 2030 (b) 737,650 732,498 750,000 744,417 3.625% notes due May 15, 2031 500,000 493,060 500,000 492,669 Note payable to EQM 97,117 97,117 99,838 99,838 Total debt 5,087,197 5,042,069 5,643,652 5,591,072 Less: Current portion of debt (c) 450,531 440,900 1,074,332 1,060,970 Long-term debt $ 4,636,666 $ 4,601,169 $ 4,569,320 $ 4,530,102 (a) For the Company's credit facility and note payable to EQM, the principal value represents the carrying value. For all other debt, the principal value less the unamortized debt issuance costs and debt discounts represents the carrying value. (b) Interest rates for this tranche of the Company's senior notes fluctuate based on changes to the credit ratings assigned to the Company's senior notes by Moody's, S&P and Fitch. Interest rates on the Company's other outstanding senior notes do not fluctuate based on changes to the credit ratings assigned to its senior notes by Moody's, S&P and Fitch. (c) As of June 30, 2022, the current portion of debt includes the 7.42% series B notes, the 1.75% convertible notes (described below) and a portion of the note payable to EQM. As of December 31, 2021, the current portion of debt includes the 3.00% notes, the 1.75% convertible notes and a portion of the note payable to EQM. Debt repayments . The Company redeemed or repurchased the following debt during the six months ended June 30, 2022. Debt Tranche Principal (a) Premiums/(Discounts) (a) Accrued but Unpaid Interest Total Cost (Thousands) 3.00% notes due October 1, 2022 $ 568,823 $ 5,546 $ 7,150 $ 581,519 6.625% notes due February 1, 2025 4,685 142 130 4,957 1.75% convertible notes due May 1, 2026 65,096 101,879 186 167,161 3.125% notes due May 15, 2026 2,306 (143) 10 2,173 5.00% notes due January 15, 2029 435 (15) 10 430 7.500% notes due February 1, 2030 12,350 877 387 13,614 (a) Of the total principal repurchased and premiums recorded during the six months ended June 30, 2022, approximately $80 million and $94 million, respectively, were accrued but not yet paid as of June 30, 2022 due to the timing of settlements. The Company redeemed or repurchased the following debt during the period beginning July 1, 2022 and ending July 26, 2022. Debt Tranche Principal Premiums/(Discounts) Accrued but Unpaid Interest Total Cost (Thousands) 6.625% notes due February 1, 2025 $ 79,721 $ 2,904 $ 2,491 $ 85,116 1.75% convertible notes due May 1, 2026 20,000 26,027 64 46,091 3.125% notes due May 15, 2026 34,340 (1,907) 177 32,610 3.90% notes due October 1, 2027 15,567 (643) 188 15,112 5.00% notes due January 15, 2029 13,111 (430) 185 12,866 7.500% notes due February 1, 2030 7,650 551 253 8,454 3.625% notes due May 15, 2031 4,835 (601) 28 4,262 Credit facility . The Company has a $2.5 billion credit facility. On June 28, 2022, the Company entered into the Third Amended and Restated Credit Agreement (the Third Amendment) with the lenders party thereto and PNC Bank, National Association, as administrative agent, swing line lender and L/C issuer, amending and restating the Second Amended and Restated Credit Agreement, dated as of July 31, 2017 (the Credit Agreement). The Third Amendment, among other things, (i) extends the maturity date of the commitments and loans under the Credit Agreement to June 28, 2027 and provides at the Company's option two one-year extensions thereafter, subject to the approval of the lenders, (ii) allows for commitment increases of up to $500 million, subject to the agreement of the Company and new or existing lenders and (iii) allows for Base Rate Loans, Term SOFR Rate Loans and Swing Line Loans (each defined in the Third Amendment). The Company had approximately $208 million and $440 million of letters of credit outstanding under its credit facility as of June 30, 2022 and December 31, 2021, respectively. Under the Company's credit facility, for the three months ended June 30, 2022 and 2021, the maximum amount of outstanding borrowings was $1,300 million and $578 million, respectively, the average daily balances were approximately $844 million and $236 million, respectively, and interest was incurred at a weighted average annual interest rate of 2.3% and 2.1%, respectively. Under the Company's credit facility, for the six months ended June 30, 2022 and 2021, the maximum amount of outstanding borrowings was $1,300 million and $890 million, respectively, the average daily balances were approximately $576 million and $188 million, respectively, and interest was incurred at a weighted average annual interest rate of 2.2% and 2.1%, respectively. 3.125% senior notes and 3.625% senior notes. On May 17, 2021, the Company issued $500 million aggregate principal amount of 3.125% senior notes due May 15, 2026 and $500 million aggregate principal amount of 3.625% senior notes due May 15, 2031. After deducting offering costs of $15.6 million, net proceeds from the sale of the notes of $984.4 million were used to partly fund the Alta Acquisition (defined in Note 9). The covenants of the 3.125% senior notes and 3.625% senior notes are consistent with the Company's existing senior unsecured notes; however, the 3.125% senior notes and 3.625% senior notes include an offer to repurchase provision applicable upon the occurrence of certain change of control events specified in the applicable indentures. Convertible Notes . In April 2020, the Company issued $500 million aggregate principal amount of 1.75% convertible senior notes (the Convertible Notes) due May 1, 2026 unless earlier redeemed, repurchased or converted. Holders of the Convertible Notes may convert their Convertible Notes at their option at any time prior to the close of business on January 30, 2026 under the following circumstances: • during any quarter as long as the last reported price of EQT common stock for at least 20 trading days (consecutive or otherwise) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding quarter is greater than or equal to 130% of the conversion price on each such trading day (the Sale Price Condition); • during the five-business-day period after any five-consecutive-trading-day period (the measurement period) in which the trading price per $1,000 principal amount of the Convertible Notes for each trading day of the measurement period is less than 98% of the product of the last reported price of EQT common stock and the conversion rate for the Convertible Notes on each such trading day; • if the Company calls any or all of the Convertible Notes for redemption at any time prior to the close of business on the second scheduled trading day immediately preceding such redemption date; and • upon the occurrence of certain corporate events set forth in the Convertible Notes indenture. On or after February 1, 2026, holders of the Convertible Notes may convert their Convertible Notes at their option at any time until the close of business on the second scheduled trading date immediately preceding May 1, 2026. The Company may not redeem the Convertible Notes prior to May 5, 2023. On or after May 5, 2023 and prior to February 1, 2026, the Company may redeem for cash all or any portion of the Convertible Notes at its option at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed plus accrued and unpaid interest up to the redemption date as long as the last reported price per share of EQT common stock has been at least 130% of the conversion price in effect for at least 20 trading days (consecutive or otherwise) during any 30-consecutive-trading-day period ending on the trading day immediately preceding the date on which the Company delivers notice of redemption. A sinking fund is not provided for the Convertible Notes. The initial conversion rate for the Convertible Notes was 66.6667 shares of EQT common stock per $1,000 principal amount of the Convertible Notes, which was equivalent to an initial conversion price of $15.00 per share of EQT common stock. The initial conversion price represents a premium of 20% to the $12.50 per share closing price of EQT common stock on April 23, 2020. The conversion rate is subject to adjustment under certain circumstances. In addition, following certain corporate events that occur prior to May 1, 2026 or if the Company delivers notice of redemption, the Company will, in certain circumstances, increase the conversion rate for a holder who elects to convert its Convertible Notes in connection with such corporate event or notice of redemption. As a result of the cash dividend the Company paid on its common stock in the first quarter of 2022, effective February 11, 2022, the conversion rate for the Convertible Notes was adjusted to 67.0535 shares of EQT common stock per $1,000 principal amount of the Convertible Notes. As a result of the cash dividend the Company paid on its common stock in the second quarter of 2022, effective May 10, 2022, the conversion rate for the Convertible Notes was adjusted to 67.2836 shares of EQT common stock per $1,000 principal amount of the Convertible Notes. Future dividend payments by the Company will result in further adjustments to the conversion rate per share of EQT common stock. The Sale Price Condition for conversion of the Convertible Notes was satisfied as of December 31, 2021, March 31, 2022 and June 30, 2022, and, accordingly, holders of the Convertible Notes are permitted to convert any of their Convertible Notes at their option at any time beginning on January 1, 2022 and continuing until September 30, 2022, subject to the terms and conditions set forth in the Convertible Notes indenture. Therefore, as of December 31, 2021 and June 30, 2022, the net carrying value of the Convertible Notes was included in current portion of debt on the Condensed Consolidated Balance Sheets. The following table summarizes Convertible Notes conversion right exercises from issuance through July 22, 2022. The Company elected to settle all such conversions by issuing to the converting holders shares of EQT common stock. Settlement Month Principal Converted Shares Issued Average Conversion Price (Thousands) September 2021 $ 9 599 $ 19.64 March 2022 8 536 33.65 April 2022 26 1,742 34.78 July 2022 5 335 36.91 Upon conversion of the remaining outstanding Convertible Notes, the Company may satisfy its conversion obligation by paying and/or delivering at the Company's election, in the manner and subject to the terms and conditions provided in the Convertible Notes indenture, cash, shares of EQT common stock or a combination thereof. The Company intends to use a combined settlement approach to satisfy its obligation by paying or delivering to holders of the Convertible Notes cash equal to the principal amount of the obligation and EQT common stock for amounts that exceed the principal amount of the obligation. In connection with the Convertible Notes offering, the Company entered into privately negotiated capped call transactions (the Capped Call Transactions), the purpose of which is to reduce the potential dilution to EQT common stock upon conversion of the Convertible Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of such obligation, with such reduction and offset subject to a cap. The Capped Call Transactions have an initial strike price of $15.00 per share of EQT common stock and an initial capped price of $18.75 per share of EQT common stock, each of which are subject to certain customary adjustments, including adjustments as a result of the Company paying a dividend on its common stock. The Capped Call Transactions are separate from the Convertible Notes. The Capped Call Transactions were recorded in shareholders' equity and were not accounted for as derivatives. The cost to purchase the Capped Call Transactions of $32.5 million was recorded as a reduction to equity and will not be remeasured. Based on the closing stock price of EQT common stock of $34.40 on June 30, 2022 and excluding the impact of the Capped Call Transactions, the if-converted value of the Convertible Notes exceeded the principal amount by $572 million. The table below summarizes the net carrying value and fair value of the Convertible Notes. June 30, 2022 December 31, 2021 (Thousands) Principal $ 434,856 $ 499,991 Less: Unamortized debt issuance costs 9,631 12,448 Net carrying value of Convertible Notes $ 425,225 $ 487,543 Fair value of Convertible Notes (a) $ 1,036,292 $ 854,985 (a) The fair value is a Level 2 fair value measurement. See Note 4. The table below summarizes the components of interest expense related to the Convertible Notes. The effective interest rate for the Convertible Notes is 2.4%. Three Months Ended Six Months Ended 2022 2021 2022 2021 (Thousands) Contractual interest expense $ 2,183 $ 2,187 $ 4,370 $ 4,375 Amortization of issuance costs 687 672 1,371 1,341 Total Convertible Notes interest expense $ 2,870 $ 2,859 $ 5,741 $ 5,716

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share In periods when the Company reports a net loss, all options, restricted stock, performance awards and stock appreciation rights are excluded from the calculation of diluted weighted average shares outstanding because of their anti-dilutive effect on loss per share. As a result, for the six months ended June 30, 2022 and the three and six months ended June 30, 2021, all such securities were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share. Such securities for the six months ended June 30, 2022 were 6,855,482, and such securities for the three and six months ended June 30, 2021 were 7,679,584 and 7,712,354, respectively. For the three months ended June 30, 2022, such potentially dilutive securities included in the calculation of diluted earnings per share were 4,132,337. Additionally, the Company uses the if-converted method to calculate the impact of the Convertible Notes on diluted earnings (loss) per share. For the six months ended June 30, 2022 and the three and six months ended June 30, 2021, all such if-converted securities were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share. Such securities for the six months ended June 30, 2022 were approximately 33.4 million, and such securities for both the three and six months ended June 30, 2021 were approximately 33.3 million. For the three months ended June 30, 2022, such potentially dilutive securities included in the calculation of diluted earnings per share were 33.3 million. See Notes 1 and 6 for further discussion of the Convertible Notes.

Impairment of Contract Asset

Impairment of Contract Asset	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Impairment of Contract Asset	Impairment of Contract Asset During the first quarter of 2020, the Company sold to Equitrans Midstream approximately 50% of the Company's then-owned equity interest in Equitrans Midstream in exchange for a combination of cash and rate relief under certain of the Company's gathering contracts with an affiliate of Equitrans Midstream (the Equitrans Share Exchange). The rate relief was effected through the execution of a consolidated gas gathering and compression agreement entered into between the Company and an affiliate of Equitrans Midstream (the Consolidated GGA). In addition, because the Mountain Valley Pipeline was not in service by January 1, 2022, the Consolidated GGA provides the Company with the option to forgo a portion of the gathering fee relief that would otherwise be applicable following the Mountain Valley Pipeline in-service date in exchange for a cash payment to the Company of approximately $196 million (the Cash Payment Option). On July 8, 2022, the Company delivered notice to Equitrans Midstream that it had elected to exercise the Cash Payment Option. On the closing date of the Equitrans Share Exchange, the Company recorded in the Condensed Consolidated Balance Sheet a contract asset of $410 million representing the estimated fair value of the rate relief inclusive of the Cash Payment Option. During the first quarter of 2022, the Company identified indicators that the carrying value of the contract asset may not be fully recoverable, including increased uncertainty of the estimated timing of completion of the Mountain Valley Pipeline due to recent court rulings. As a result of the Company's impairment evaluation, the Company recognized impairment of $184.9 million in the Statement of Condensed Consolidated Operations. The impairment reduced the carrying value of the contract asset to its estimated fair value as of March 31, 2022 of $225 million, of which $196 million was attributable to the Cash Payment Option provided by the Consolidated GGA and presented in prepaid expenses and other in the Condensed Consolidated Balance Sheet and $29 million was attributable to the residual rate relief realizable upon the in-service date of the Mountain Valley Pipeline and presented in contract asset in the Condensed Consolidated Balance Sheet. The fair value of the contract asset was based on significant inputs that are not observable in the market and, as such, is a Level 3 fair value measurement. See Note 4 for a description of the fair value hierarchy. Key assumptions used in the fair value calculation included the following: (i) a probability-weighted estimate of the in-service date of the Mountain Valley Pipeline; (ii) an estimate of the potential exercise and timing of the Cash Payment Option; (iii) an estimated production volume forecast and (iv) a market-based weighted average cost of capital.

Alta Acquisition

Alta Acquisition	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Alta Acquisition	Alta Acquisition On July 21, 2021, the Company completed its acquisition (the Alta Acquisition) of Alta Marcellus Development, LLC and ARD Operating, LLC and subsidiaries (together, the Alta Target Entities), pursuant to that certain Membership Interest Purchase Agreement, dated May 5, 2021 (the Alta Purchase Agreement), by and among the Company, EQT Acquisition HoldCo LLC (a wholly-owned indirect subsidiary of the Company), Alta Resources Development, LLC (Alta Resources) and the Alta Target Entities. The Alta Target Entities collectively held all of Alta Resources' upstream and midstream assets and liabilities. The purchase price for the Alta Acquisition consisted of approximately $1.0 billion in cash and 98,789,388 shares of EQT common stock, as adjusted pursuant to customary closing purchase price adjustments set forth in the Alta Purchase Agreement. The Alta Purchase Agreement has an effective date of January 1, 2021. As a result of the Alta Acquisition, the Company acquired approximately 300,000 net Northeast Marcellus acres, approximately 1.0 Bcfe per day of current net production, approximately 300 miles of midstream gathering systems, approximately 100 miles of a freshwater system and a firm transportation portfolio to premium demand markets. The Company completed the purchase price allocation for the Alta Acquisition during the second quarter of 2022, at which time the value of the assets acquired and liabilities assumed were revised. The purchase accounting adjustments recorded in 2022 were not material. Unaudited Pro Forma Information . The table below summarizes the Company's results as though the Alta Acquisition had been completed on January 1, 2021. Certain of Alta Resources' historical amounts were reclassified to conform to the Company's financial presentation of operations. The following unaudited pro forma information is provided for informational purposes only and does not represent what consolidated results of operations would have been had the Alta Acquisition occurred on January 1, 2021 nor are they necessarily indicative of future consolidated results of operations. Three Months Ended Six Months Ended (Thousands, except per share amounts) Pro forma sales of natural gas, NGLs and oil $ 1,254,006 $ 2,598,753 Pro forma loss on derivatives (1,475,430) (1,650,581) Pro forma net marketing services and other 10,051 20,654 Pro forma total operating revenues $ (211,373) $ 968,826 Pro forma net loss $ (1,009,899) $ (976,368) Pro forma net loss attributable to noncontrolling interests (62) (576) Pro forma net loss attributable to EQT Corporation $ (1,009,837) $ (975,792) Pro forma loss per share (basic and diluted) $ (3.62) $ (3.50)

Financial Statements (Policies)

Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2020-06, Debt with Conversion and Other Options and Derivatives and Hedging: Accounting for Convertible Instruments and Contracts in an Entity's Own Equity . This ASU simplifies accounting for convertible instruments by removing certain separation models for convertible instruments. For convertible instruments with conversion features that are not accounted for as derivatives under Accounting Standards Codification 815 or that do not result in substantial premiums accounted for as paid-in capital, the convertible instrument's embedded conversion features are no longer separated from the host contract. Consequently, and as long as no other feature requires bifurcation and recognition as a derivative, the convertible instrument is accounted for as a single liability measured at its amortized cost. Under ASU 2020-06, entities are required to use the if-converted method to calculate the impact of convertible instruments on diluted earnings per share (EPS). The if-converted method assumes share settlement of the instrument, which increases the number of potentially dilutive securities used to calculate diluted EPS. This ASU also adds several new disclosure requirements. The Company adopted this ASU effective as of January 1, 2022 using the full retrospective method of adoption. The following tables present the impact of the adoption of ASU 2020-06 on the Company's previously reported historical results. See Note 6 for discussion of the Convertible Notes (defined in Note 6). Three Months Ended June 30, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands, except per share amounts) Interest expense $ 76,986 $ (4,732) $ 72,254 Income tax benefit (347,846) 1,535 (346,311) Net loss (936,519) 3,197 (933,322) Less: Net loss attributable to noncontrolling interest (62) — (62) Net loss attributable to EQT Corporation $ (936,457) $ 3,197 $ (933,260) Basic and diluted: Weighted average common stock outstanding (a) 279,156 — 279,156 Loss per share of common stock attributable to EQT Corporation $ (3.35) $ 0.01 $ (3.34) (a) For the three months ended June 30, 2021, diluted weighted average common stock outstanding did not change because the potentially dilutive securities had an anti-dilutive effect on loss per share. Six Months Ended June 30, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands, except per share amounts) Interest expense $ 152,085 $ (9,358) $ 142,727 Income tax benefit (362,340) 3,070 (359,270) Net loss (977,551) 6,288 (971,263) Less: Net loss attributable to noncontrolling interest (576) — (576) Net loss attributable to EQT Corporation $ (976,975) $ 6,288 $ (970,687) Basic and diluted: Weighted average common stock outstanding (a) 278,996 — 278,996 Loss per share of common stock attributable to EQT Corporation $ (3.50) $ 0.02 $ (3.48) (a) For the six months ended June 30, 2021, diluted weighted average common stock outstanding did not change because the potentially dilutive securities had an anti-dilutive effect on loss per share. December 31, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands) Current portion of debt (a) $ 954,900 $ 106,070 $ 1,060,970 Deferred income taxes 938,612 (31,306) 907,306 Common stock, no par value 10,167,963 (96,143) 10,071,820 Accumulated deficit (115,779) 21,379 (94,400) (a) Pursuant to the terms of the Convertible Notes indenture, a sale price condition for conversion of the Convertible Notes was satisfied as of December 31, 2021, and, accordingly, holders of the Convertible Notes were permitted to convert any of their Convertible Notes at their option at any time during the three months ended March 31, 2022, subject to all terms and conditions set forth in the Convertible Notes indenture. Therefore, as of December 31, 2021, the net carrying value of the Convertible Notes was included in current portion of debt in the Consolidated Balance Sheet. Certain line items in the Statement of Condensed Consolidated Cash Flows for the six months ended June 30, 2021 were adjusted to reflect the impact of the adoption of ASU 2020-06; however, the adoption did not impact cash and did not change net cash provided by operating, investing or financing activities.

Financial Statements (Tables)

Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounting Standards Update and Change in Accounting Principle	The Company adopted this ASU effective as of January 1, 2022 using the full retrospective method of adoption. The following tables present the impact of the adoption of ASU 2020-06 on the Company's previously reported historical results. See Note 6 for discussion of the Convertible Notes (defined in Note 6). Three Months Ended June 30, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands, except per share amounts) Interest expense $ 76,986 $ (4,732) $ 72,254 Income tax benefit (347,846) 1,535 (346,311) Net loss (936,519) 3,197 (933,322) Less: Net loss attributable to noncontrolling interest (62) — (62) Net loss attributable to EQT Corporation $ (936,457) $ 3,197 $ (933,260) Basic and diluted: Weighted average common stock outstanding (a) 279,156 — 279,156 Loss per share of common stock attributable to EQT Corporation $ (3.35) $ 0.01 $ (3.34) (a) For the three months ended June 30, 2021, diluted weighted average common stock outstanding did not change because the potentially dilutive securities had an anti-dilutive effect on loss per share. Six Months Ended June 30, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands, except per share amounts) Interest expense $ 152,085 $ (9,358) $ 142,727 Income tax benefit (362,340) 3,070 (359,270) Net loss (977,551) 6,288 (971,263) Less: Net loss attributable to noncontrolling interest (576) — (576) Net loss attributable to EQT Corporation $ (976,975) $ 6,288 $ (970,687) Basic and diluted: Weighted average common stock outstanding (a) 278,996 — 278,996 Loss per share of common stock attributable to EQT Corporation $ (3.50) $ 0.02 $ (3.48) (a) For the six months ended June 30, 2021, diluted weighted average common stock outstanding did not change because the potentially dilutive securities had an anti-dilutive effect on loss per share. December 31, 2021 As Reported ASU 2020-06 Adoption Adjustment As Adjusted (Thousands) Current portion of debt (a) $ 954,900 $ 106,070 $ 1,060,970 Deferred income taxes 938,612 (31,306) 907,306 Common stock, no par value 10,167,963 (96,143) 10,071,820 Accumulated deficit (115,779) 21,379 (94,400) (a) Pursuant to the terms of the Convertible Notes indenture, a sale price condition for conversion of the Convertible Notes was satisfied as of December 31, 2021, and, accordingly, holders of the Convertible Notes were permitted to convert any of their Convertible Notes at their option at any time during the three months ended March 31, 2022, subject to all terms and conditions set forth in the Convertible Notes indenture. Therefore, as of December 31, 2021, the net carrying value of the Convertible Notes was included in current portion of debt in the Consolidated Balance Sheet.
Schedule of Cash Flow, Supplemental Disclosures	The following table summarizes net cash paid for interest and income taxes and non-cash activity included in the Statements of Condensed Consolidated Cash Flows. Six Months Ended June 30, 2022 2021 (Thousands) Cash paid during the period for: Interest, net of amount capitalized $ 133,269 $ 127,082 Income taxes, net 6,415 21,768 Non-cash activity during the period for: Increase in asset retirement costs and obligations $ 10,245 $ 1,943 Capitalization of non-cash equity share-based compensation 2,550 2,499 Increase in right-of-use assets and lease liabilities, net 819 1,091 Issuance of common stock for Convertible Notes settlements (see Note 6) 38 —

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The table below provides disaggregated information on the Company's revenues. Certain other revenue contracts are outside the scope of ASU 2014-09, Revenue from Contracts with Customers . These contracts are reported in net marketing services and other in the Statements of Condensed Consolidated Operations. Derivative contracts are also outside the scope of ASU 2014-09. Three Months Ended Six Months Ended 2022 2021 2022 2021 (Thousands) Revenues from contracts with customers: Natural gas sales $ 3,175,155 $ 953,385 $ 5,464,520 $ 1,966,465 NGLs sales 167,849 102,361 341,352 202,618 Oil sales 22,207 22,158 45,963 39,772 Total revenues from contracts with customers $ 3,365,211 $ 1,077,904 $ 5,851,835 $ 2,208,855 Other sources of revenue: Loss on derivatives (845,095) (1,345,532) (3,922,732) (1,534,345) Net marketing services and other 7,392 7,512 19,295 15,297 Total operating revenues $ 2,527,508 $ (260,116) $ 1,948,398 $ 689,807
Summary of Transaction Price Allocation	The following table summarizes the transaction price allocated to the Company's remaining performance obligations on all contracts with fixed consideration as of June 30, 2022. Amounts shown exclude contracts that qualified for the exception to the relative standalone selling price method as of June 30, 2022. 2022 (a) 2023 Total (Thousands) Natural gas sales $ 12,148 $ 10,747 $ 22,895 (a) July 1 through December 31.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Offsetting Assets	The table below summarizes the impact of netting agreements and margin deposits on gross derivative assets and liabilities. Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets Derivative instruments subject to Margin requirements with counterparties Net derivative instruments (Thousands) June 30, 2022 Asset derivative instruments, at fair value $ 1,409,199 $ (1,363,094) $ — $ 46,105 Liability derivative instruments, at fair value 4,568,003 (1,363,094) (347,426) 2,857,483 December 31, 2021 Asset derivative instruments, at fair value $ 543,337 $ (468,266) $ — $ 75,071 Liability derivative instruments, at fair value 2,413,608 (468,266) (147,773) 1,797,569
Offsetting Liabilities	The table below summarizes the impact of netting agreements and margin deposits on gross derivative assets and liabilities. Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets Derivative instruments subject to Margin requirements with counterparties Net derivative instruments (Thousands) June 30, 2022 Asset derivative instruments, at fair value $ 1,409,199 $ (1,363,094) $ — $ 46,105 Liability derivative instruments, at fair value 4,568,003 (1,363,094) (347,426) 2,857,483 December 31, 2021 Asset derivative instruments, at fair value $ 543,337 $ (468,266) $ — $ 75,071 Liability derivative instruments, at fair value 2,413,608 (468,266) (147,773) 1,797,569

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The table below summarizes assets and liabilities measured at fair value on a recurring basis. Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets Fair value measurements at reporting date using: Quoted prices in active Significant other observable inputs Significant unobservable inputs (Thousands) June 30, 2022 Asset derivative instruments, at fair value $ 1,409,199 $ 297,009 $ 1,112,190 $ — Liability derivative instruments, at fair value 4,568,003 222,871 4,345,132 — December 31, 2021 Asset derivative instruments, at fair value $ 543,337 $ 66,833 $ 476,504 $ — Liability derivative instruments, at fair value 2,413,608 126,053 2,287,555 —

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	The table below summarizes the Company's outstanding debt. June 30, 2022 December 31, 2021 Principal Value Carrying Value (a) Principal Value Carrying Value (a) (Thousands) Credit Facility expiring June 28, 2027 $ 100,000 $ 100,000 $ — $ — Senior notes: 3.00% notes due October 1, 2022 — — 568,823 567,909 7.42% series B notes due 2023 10,000 10,000 10,000 10,000 6.625% notes due February 1, 2025 (b) 995,315 990,848 1,000,000 994,643 1.75% convertible notes due May 1, 2026 434,856 425,225 499,991 487,543 3.125% notes due May 15, 2026 497,694 491,661 500,000 493,157 7.75% debentures due July 15, 2026 115,000 112,970 115,000 112,721 3.90% notes due October 1, 2027 1,250,000 1,243,919 1,250,000 1,243,340 5.00% notes due January 15, 2029 349,565 344,771 350,000 344,835 7.500% notes due February 1, 2030 (b) 737,650 732,498 750,000 744,417 3.625% notes due May 15, 2031 500,000 493,060 500,000 492,669 Note payable to EQM 97,117 97,117 99,838 99,838 Total debt 5,087,197 5,042,069 5,643,652 5,591,072 Less: Current portion of debt (c) 450,531 440,900 1,074,332 1,060,970 Long-term debt $ 4,636,666 $ 4,601,169 $ 4,569,320 $ 4,530,102 (a) For the Company's credit facility and note payable to EQM, the principal value represents the carrying value. For all other debt, the principal value less the unamortized debt issuance costs and debt discounts represents the carrying value. (b) Interest rates for this tranche of the Company's senior notes fluctuate based on changes to the credit ratings assigned to the Company's senior notes by Moody's, S&P and Fitch. Interest rates on the Company's other outstanding senior notes do not fluctuate based on changes to the credit ratings assigned to its senior notes by Moody's, S&P and Fitch. (c) As of June 30, 2022, the current portion of debt includes the 7.42% series B notes, the 1.75% convertible notes (described below) and a portion of the note payable to EQM. As of December 31, 2021, the current portion of debt includes the 3.00% notes, the 1.75% convertible notes and a portion of the note payable to EQM.
Schedule of Debt Instrument Redemption	The Company redeemed or repurchased the following debt during the six months ended June 30, 2022. Debt Tranche Principal (a) Premiums/(Discounts) (a) Accrued but Unpaid Interest Total Cost (Thousands) 3.00% notes due October 1, 2022 $ 568,823 $ 5,546 $ 7,150 $ 581,519 6.625% notes due February 1, 2025 4,685 142 130 4,957 1.75% convertible notes due May 1, 2026 65,096 101,879 186 167,161 3.125% notes due May 15, 2026 2,306 (143) 10 2,173 5.00% notes due January 15, 2029 435 (15) 10 430 7.500% notes due February 1, 2030 12,350 877 387 13,614 (a) Of the total principal repurchased and premiums recorded during the six months ended June 30, 2022, approximately $80 million and $94 million, respectively, were accrued but not yet paid as of June 30, 2022 due to the timing of settlements. The Company redeemed or repurchased the following debt during the period beginning July 1, 2022 and ending July 26, 2022. Debt Tranche Principal Premiums/(Discounts) Accrued but Unpaid Interest Total Cost (Thousands) 6.625% notes due February 1, 2025 $ 79,721 $ 2,904 $ 2,491 $ 85,116 1.75% convertible notes due May 1, 2026 20,000 26,027 64 46,091 3.125% notes due May 15, 2026 34,340 (1,907) 177 32,610 3.90% notes due October 1, 2027 15,567 (643) 188 15,112 5.00% notes due January 15, 2029 13,111 (430) 185 12,866 7.500% notes due February 1, 2030 7,650 551 253 8,454 3.625% notes due May 15, 2031 4,835 (601) 28 4,262
Schedule of Convertible Debt	The following table summarizes Convertible Notes conversion right exercises from issuance through July 22, 2022. The Company elected to settle all such conversions by issuing to the converting holders shares of EQT common stock. Settlement Month Principal Converted Shares Issued Average Conversion Price (Thousands) September 2021 $ 9 599 $ 19.64 March 2022 8 536 33.65 April 2022 26 1,742 34.78 July 2022 5 335 36.91 The table below summarizes the net carrying value and fair value of the Convertible Notes. June 30, 2022 December 31, 2021 (Thousands) Principal $ 434,856 $ 499,991 Less: Unamortized debt issuance costs 9,631 12,448 Net carrying value of Convertible Notes $ 425,225 $ 487,543 Fair value of Convertible Notes (a) $ 1,036,292 $ 854,985 (a) The fair value is a Level 2 fair value measurement. See Note 4. The table below summarizes the components of interest expense related to the Convertible Notes. The effective interest rate for the Convertible Notes is 2.4%. Three Months Ended Six Months Ended 2022 2021 2022 2021 (Thousands) Contractual interest expense $ 2,183 $ 2,187 $ 4,370 $ 4,375 Amortization of issuance costs 687 672 1,371 1,341 Total Convertible Notes interest expense $ 2,870 $ 2,859 $ 5,741 $ 5,716

Alta Acquisition (Tables)

Alta Acquisition (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Unaudited Pro Forma Information	The following unaudited pro forma information is provided for informational purposes only and does not represent what consolidated results of operations would have been had the Alta Acquisition occurred on January 1, 2021 nor are they necessarily indicative of future consolidated results of operations. Three Months Ended Six Months Ended (Thousands, except per share amounts) Pro forma sales of natural gas, NGLs and oil $ 1,254,006 $ 2,598,753 Pro forma loss on derivatives (1,475,430) (1,650,581) Pro forma net marketing services and other 10,051 20,654 Pro forma total operating revenues $ (211,373) $ 968,826 Pro forma net loss $ (1,009,899) $ (976,368) Pro forma net loss attributable to noncontrolling interests (62) (576) Pro forma net loss attributable to EQT Corporation $ (1,009,837) $ (975,792) Pro forma loss per share (basic and diluted) $ (3.62) $ (3.50)

Financial Statements - Schedule

Financial Statements - Schedule of Accounting Standards Update and Change in Accounting Principle (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest expense	$ 65,985	$ 72,254	$ 133,887	$ 142,727
Income tax expense (benefit)	308,234	(346,311)	(157,463)	(359,270)
Net income (loss)	894,224	(933,322)	(620,359)	(971,263)
Less: Net income (loss) attributable to noncontrolling interests	2,863	(62)	4,328	(576)
Net income (loss) attributable to EQT Corporation	$ 891,361	$ (933,260)	$ (624,687)	$ (970,687)
Basic and diluted:
Weighted average common stock outstanding - Basic (in shares)	369,866	279,156	372,023	278,996
Weighted average common stock outstanding - Diluted (in shares)	407,303	279,156	372,023	278,996
Loss per share of common stock attributable to EQT Corporation - Basic (in dollars per share)	$ 2.41	$ (3.34)	$ (1.68)	$ (3.48)
Loss per share of common stock attributable to EQT Corporation - Diluted (in dollars per share)	$ 2.19	$ (3.34)	$ (1.68)	$ (3.48)
Current portion of debt	$ 440,900		$ 440,900		$ 1,060,970
Deferred income taxes	742,670		742,670		907,306
Common stock, no par value	9,948,646		9,948,646		10,071,820
Accumulated deficit	$ (880,127)		$ (880,127)		(94,400)
As Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest expense		$ 76,986		$ 152,085
Income tax expense (benefit)		(347,846)		(362,340)
Net income (loss)		(936,519)		(977,551)
Less: Net income (loss) attributable to noncontrolling interests		(62)		(576)
Net income (loss) attributable to EQT Corporation		$ (936,457)		$ (976,975)
Basic and diluted:
Weighted average common stock outstanding - Basic (in shares)		279,156		278,996
Weighted average common stock outstanding - Diluted (in shares)		279,156		278,996
Loss per share of common stock attributable to EQT Corporation - Basic (in dollars per share)		$ (3.35)		$ (3.50)
Loss per share of common stock attributable to EQT Corporation - Diluted (in dollars per share)		$ (3.35)		$ (3.50)
Current portion of debt					954,900
Deferred income taxes					938,612
Common stock, no par value					10,167,963
Accumulated deficit					(115,779)
ASU 2020-06 Adoption Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest expense		$ (4,732)		$ (9,358)
Income tax expense (benefit)		1,535		3,070
Net income (loss)		3,197		6,288
Less: Net income (loss) attributable to noncontrolling interests		0		0
Net income (loss) attributable to EQT Corporation		$ 3,197		$ 6,288
Basic and diluted:
Weighted average common stock outstanding - Basic (in shares)		0		0
Weighted average common stock outstanding - Diluted (in shares)		0		0
Loss per share of common stock attributable to EQT Corporation - Basic (in dollars per share)		$ 0.01		$ 0.02
Loss per share of common stock attributable to EQT Corporation - Diluted (in dollars per share)		$ 0.01		$ 0.02
Current portion of debt					106,070
Deferred income taxes					(31,306)
Common stock, no par value					(96,143)
Accumulated deficit					$ 21,379

Financial Statements - Schedu_2

Financial Statements - Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Cash paid during the period for:
Interest, net of amount capitalized		$ 133,269	$ 127,082
Income taxes, net		6,415	21,768
Non-cash activity during the period for:
Increase in asset retirement costs and obligations		10,245	1,943
Capitalization of non-cash equity share-based compensation		2,550	2,499
Increase in right-of-use assets and lease liabilities, net		819	1,091
Issuance of common stock for Convertible Notes settlements (see Note 6)	$ 30	$ 38	$ 0

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Disaggregation of Revenue
Amounts due from contracts with customers	$ 1,558.1	$ 1,093.9
Natural Gas, Oil, and NGLs Sales
Disaggregation of Revenue
Number of days in which payment is required	25 days

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue
Total revenues from contracts with customers	$ 3,365,211	$ 1,077,904	$ 5,851,835	$ 2,208,855
Loss on derivatives	(845,095)	(1,345,532)	(3,922,732)	(1,534,345)
Total operating revenues	2,527,508	(260,116)	1,948,398	689,807
Natural gas sales
Disaggregation of Revenue
Total revenues from contracts with customers	3,175,155	953,385	5,464,520	1,966,465
NGLs sales
Disaggregation of Revenue
Total revenues from contracts with customers	167,849	102,361	341,352	202,618
Oil sales
Disaggregation of Revenue
Total revenues from contracts with customers	22,207	22,158	45,963	39,772
Net marketing services and other
Disaggregation of Revenue
Net marketing services and other	$ 7,392	$ 7,512	$ 19,295	$ 15,297

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Remaining Performance Obligations (Details) - Natural gas sales $ in Thousands	Jun. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 22,895
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 12,148
Remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 10,747
Remaining performance obligation, expected timing of satisfaction, period	1 year

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details)	6 Months Ended					12 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($) Bcf	Jun. 30, 2022 USD ($) MBbls	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) Bcf	Dec. 31, 2021 USD ($) MBbls	Jun. 30, 2020 USD ($)
Derivative Instruments, Gain (Loss)
Maximum additional collateral as percentage of derivative liability				100%
Aggregate fair value of derivative instruments with credit-risk related contingencies	$ 465,000,000	$ 465,000,000	$ 465,000,000	$ 465,000,000		$ 594,900,000	$ 594,900,000
Collateral posted	238,000,000	238,000,000	238,000,000	238,000,000		100,000	100,000
Derivative instruments, at fair value	1,409,199,000	1,409,199,000	1,409,199,000	1,409,199,000		543,337,000	543,337,000
Disposal Group, Not Discontinued Operations | 2020 Divestiture
Derivative Instruments, Gain (Loss)
Potential contingent consideration								$ 20,000,000
Derivative instruments, at fair value	3,900,000	3,900,000	3,900,000	3,900,000		8,200,000	8,200,000
Contingent consideration received	4,500,000				$ 600,000
OTC Derivative Instrument Contracts
Derivative Instruments, Gain (Loss)
Aggregate fair value of derivative instruments with credit-risk related contingencies	0	0	0	0		0	0
Commodity derivatives
Derivative Instruments, Gain (Loss)
Derivative instruments, at fair value	1,409,199,000	1,409,199,000	1,409,199,000	1,409,199,000		543,337,000	543,337,000
Henry hub cash bonus
Derivative Instruments, Gain (Loss)
Derivative liability	53,000,000	53,000,000	53,000,000	53,000,000		111,000,000	111,000,000
Exchange traded natural gas contracts
Derivative Instruments, Gain (Loss)
Collateral posted	$ 109,400,000	$ 109,400,000	$ 109,400,000	$ 109,400,000		$ 147,700,000	$ 147,700,000
Cash flow hedging | Commodity derivatives
Derivative Instruments, Gain (Loss)
Volume of derivative instruments (in Bcf, Mbbls)		2,227	1,830			2,184	3,055

Derivative Instruments - Impact

Derivative Instruments - Impact of Netting Agreements and Margin Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Asset derivative instruments, at fair value
Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets	$ 1,409,199	$ 543,337
Liability derivative instruments, at fair value
Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets	4,568,003	2,413,608
Commodity derivatives
Asset derivative instruments, at fair value
Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets	1,409,199	543,337
Derivative instruments subject to master netting agreements	(1,363,094)	(468,266)
Margin requirements with counterparties	0	0
Net derivative instruments	46,105	75,071
Liability derivative instruments, at fair value
Gross derivative instruments recorded in the Condensed Consolidated Balance Sheets	4,568,003	2,413,608
Derivative instruments subject to master netting agreements	(1,363,094)	(468,266)
Margin requirements with counterparties	(347,426)	(147,773)
Net derivative instruments	$ 2,857,483	$ 1,797,569

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Instrument Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset derivative instruments, at fair value	$ 1,409,199	$ 543,337
Derivative instruments, at fair value	4,568,003	2,413,608
Recurring | Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset derivative instruments, at fair value	297,009	66,833
Derivative instruments, at fair value	222,871	126,053
Recurring | Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset derivative instruments, at fair value	1,112,190	476,504
Derivative instruments, at fair value	4,345,132	2,287,555
Recurring | Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset derivative instruments, at fair value	0	0
Derivative instruments, at fair value	0	0
Recurring | Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset derivative instruments, at fair value	1,409,199	543,337
Derivative instruments, at fair value	$ 4,568,003	$ 2,413,608

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Apr. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Proceeds from sale of investment shares		$ 189,249	$ 0
Net carrying value of Convertible Notes		5,042,069		$ 5,591,072
Equitrans Midstream
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Proceeds from sale of investment shares	$ 189,000
Note payable to EQM
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Net carrying value of Convertible Notes		97,000		100,000
Estimated fair value of long-term debt		102,000		118,000
Senior Notes | Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying value of total debt		5,400,000		6,500,000
Net carrying value of Convertible Notes		$ 4,800,000		$ 5,500,000

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax	20.20%	27%

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	May 17, 2021	Apr. 30, 2020
Debt Instrument [Line Items]
Principal Value	$ 5,087,197	$ 5,643,652
Long-Term Debt, Total	5,042,069	5,591,072
Less: Current portion of debt, principal value	450,531	1,074,332
Less: Current portion of debt, carrying value	440,900	1,060,970
Total long-term debt, principal value	4,636,666	4,569,320
Total long-term debt, carrying value	4,601,169	4,530,102
Credit Facility expiring June 28, 2027 | Line of Credit
Debt Instrument [Line Items]
Principal Value	100,000	0
Long-Term Debt, Total	100,000	0
3.00% notes due October 1, 2022 | Senior Notes
Debt Instrument [Line Items]
Principal Value	0	568,823
Long-Term Debt, Total	$ 0	$ 567,909
Interest rate, stated percentage	300%	3%
7.42% series B notes due 2023 | Senior Notes
Debt Instrument [Line Items]
Principal Value	$ 10,000	$ 10,000
Long-Term Debt, Total	$ 10,000	10,000
Interest rate, stated percentage	742%
6.625% notes due February 1, 2025 | Senior Notes
Debt Instrument [Line Items]
Principal Value	$ 995,315	1,000,000
Long-Term Debt, Total	$ 990,848	994,643
Interest rate, stated percentage	662.50%
1.75% convertible notes due May 1, 2026 | Senior Notes
Debt Instrument [Line Items]
Principal Value	$ 434,856	499,991		$ 500,000
Long-Term Debt, Total	$ 425,225	$ 487,543
Interest rate, stated percentage	175%	1.75%		1.75%
3.125% notes due May 15, 2026 | Senior Notes
Debt Instrument [Line Items]
Principal Value	$ 497,694	$ 500,000	$ 500,000
Long-Term Debt, Total	$ 491,661	493,157
Interest rate, stated percentage	312.50%		3.125%
7.75% debentures due July 15, 2026 | Senior Notes
Debt Instrument [Line Items]
Principal Value	$ 115,000	115,000
Long-Term Debt, Total	$ 112,970	112,721
Interest rate, stated percentage	775%
3.90% notes due October 1, 2027 | Senior Notes
Debt Instrument [Line Items]
Principal Value	$ 1,250,000	1,250,000
Long-Term Debt, Total	$ 1,243,919	1,243,340
Interest rate, stated percentage	390%
5.00% notes due January 15, 2029 | Senior Notes
Debt Instrument [Line Items]
Principal Value	$ 349,565	350,000
Long-Term Debt, Total	$ 344,771	344,835
Interest rate, stated percentage	500%
7.500% notes due February 1, 2030 | Senior Notes
Debt Instrument [Line Items]
Principal Value	$ 737,650	750,000
Long-Term Debt, Total	$ 732,498	744,417
Interest rate, stated percentage	750%
3.625% notes due May 15, 2031 | Senior Notes
Debt Instrument [Line Items]
Principal Value	$ 500,000	500,000	$ 500,000
Long-Term Debt, Total	$ 493,060	492,669
Interest rate, stated percentage	362.50%		3.625%
Note payable to EQM
Debt Instrument [Line Items]
Long-Term Debt, Total	$ 97,000	100,000
Note payable to EQM | Note payable to EQM
Debt Instrument [Line Items]
Principal Value	97,117	99,838
Long-Term Debt, Total	$ 97,117	$ 99,838

Debt - Debt Instrument Redempti

Debt - Debt Instrument Redemption (Details) - Senior Notes - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jul. 26, 2022	Jun. 30, 2022	Dec. 31, 2021	May 17, 2021	Apr. 30, 2020
Accrued but not yet paid
Debt Instrument [Line Items]
Principal		$ 80,000
Premiums/(Discounts)		$ 94,000
3.00% notes due October 1, 2022
Debt Instrument [Line Items]
Interest rate, stated percentage		300%	3%
Principal		$ 568,823
Premiums/(Discounts)		5,546
Accrued but Unpaid Interest		7,150
Total Cost		$ 581,519
6.625% notes due February 1, 2025
Debt Instrument [Line Items]
Interest rate, stated percentage		662.50%
Principal		$ 4,685
Premiums/(Discounts)		142
Accrued but Unpaid Interest		130
Total Cost		$ 4,957
6.625% notes due February 1, 2025 | Subsequent Event
Debt Instrument [Line Items]
Principal	$ 79,721
Premiums/(Discounts)	2,904
Accrued but Unpaid Interest	2,491
Total Cost	85,116
1.75% convertible notes due May 1, 2026
Debt Instrument [Line Items]
Interest rate, stated percentage		175%	1.75%		1.75%
Principal		$ 65,096
Premiums/(Discounts)		101,879
Accrued but Unpaid Interest		186
Total Cost		$ 167,161
1.75% convertible notes due May 1, 2026 | Subsequent Event
Debt Instrument [Line Items]
Principal	20,000
Premiums/(Discounts)	26,027
Accrued but Unpaid Interest	64
Total Cost	46,091
3.125% notes due May 15, 2026
Debt Instrument [Line Items]
Interest rate, stated percentage		312.50%		3.125%
Principal		$ 2,306
Premiums/(Discounts)		(143)
Accrued but Unpaid Interest		10
Total Cost		$ 2,173
3.125% notes due May 15, 2026 | Subsequent Event
Debt Instrument [Line Items]
Principal	34,340
Premiums/(Discounts)	(1,907)
Accrued but Unpaid Interest	177
Total Cost	32,610
3.90% notes due October 1, 2027
Debt Instrument [Line Items]
Interest rate, stated percentage		390%
3.90% notes due October 1, 2027 | Subsequent Event
Debt Instrument [Line Items]
Principal	15,567
Premiums/(Discounts)	(643)
Accrued but Unpaid Interest	188
Total Cost	15,112
5.00% notes due January 15, 2029
Debt Instrument [Line Items]
Interest rate, stated percentage		500%
Principal		$ 435
Premiums/(Discounts)		(15)
Accrued but Unpaid Interest		10
Total Cost		$ 430
5.00% notes due January 15, 2029 | Subsequent Event
Debt Instrument [Line Items]
Principal	13,111
Premiums/(Discounts)	(430)
Accrued but Unpaid Interest	185
Total Cost	12,866
7.500% notes due February 1, 2030
Debt Instrument [Line Items]
Interest rate, stated percentage		750%
Principal		$ 12,350
Premiums/(Discounts)		877
Accrued but Unpaid Interest		387
Total Cost		$ 13,614
7.500% notes due February 1, 2030 | Subsequent Event
Debt Instrument [Line Items]
Principal	7,650
Premiums/(Discounts)	551
Accrued but Unpaid Interest	253
Total Cost	8,454
3.625% notes due May 15, 2031
Debt Instrument [Line Items]
Interest rate, stated percentage		362.50%		3.625%
3.625% notes due May 15, 2031 | Subsequent Event
Debt Instrument [Line Items]
Principal	4,835
Premiums/(Discounts)	(601)
Accrued but Unpaid Interest	28
Total Cost	$ 4,262

Debt - Narrative (Details)

Debt - Narrative (Details) $ / shares in Units, $ in Thousands				1 Months Ended	2 Months Ended		3 Months Ended		6 Months Ended
	Jun. 28, 2022 USD ($) extension	May 17, 2021 USD ($)	Apr. 23, 2020 $ / shares	Apr. 30, 2020 USD ($) d $ / shares	Jun. 30, 2022 USD ($) $ / shares	Mar. 31, 2022	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Line of Credit Facility
Principal					$ 5,087,197		$ 5,087,197		$ 5,087,197		$ 5,643,652
Redemption price, percentage				100%
Convertible note, measurement period trading days | d				5
Convertible notes, measurement period consecutive trading days | d				5
Strike price (in dollars per share) | $ / shares				$ 15
Capped price (in dollars per share) | $ / shares				$ 18.75
Payment of debt premium charges				$ 32,500
Closing stock price (in dollars per share) | $ / shares					$ 34.40		$ 34.40		$ 34.40
3.125% notes due May 15, 2026 | Senior Notes
Line of Credit Facility
Interest rate, stated percentage		3.125%			312.50%		312.50%		312.50%
Principal		$ 500,000			$ 497,694		$ 497,694		$ 497,694		500,000
3.625% notes due May 15, 2031 | Senior Notes
Line of Credit Facility
Interest rate, stated percentage		3.625%			362.50%		362.50%		362.50%
Principal		$ 500,000			$ 500,000		$ 500,000		$ 500,000		$ 500,000
3.125% Senior Notes and 3.625% Senior Notes | Senior Notes
Line of Credit Facility
Offering cost		15,600
Proceeds from debt		$ 984,400
1.75% convertible notes due May 1, 2026 | Senior Notes
Line of Credit Facility
Interest rate, stated percentage				1.75%	175%		175%		175%		1.75%
Principal				$ 500,000	$ 434,856		$ 434,856		$ 434,856		$ 499,991
Convertible notes, trading days | d				20
Convertible notes, consecutive trading days | d				30
Redemption price, percentage				130%
Minimum trigger price as percentage				98%
Convertible notes, conversion ratio				0.066667	0.0672836	0.0670535
Initial conversion price (in dollars per share) | $ / shares				$ 15
Conversion premium, percent			20%
Convertible closing price (in dollars per share) | $ / shares			$ 12.50
If-converted value									572,000
Credit Facility | EQT 2.5 Billion Facility
Line of Credit Facility
Line of credit facility, maximum borrowing capacity					$ 2,500,000		2,500,000		2,500,000
Letters of credit outstanding under revolving credit facility					$ 208,000		208,000		208,000		$ 440,000
Maximum amount of outstanding short-term loans at any time during the period							1,300,000	$ 578,000	1,300,000	$ 890,000
Average daily balance of short-term loans outstanding during the period							$ 844,000	$ 236,000	$ 576,000	$ 188,000
Weighted average interest rates of average daily balance of short-term loans							2.30%	2.10%	2.20%	2.10%
Credit Facility | PNC Bank, National Association
Line of Credit Facility
Line of credit facility, maximum borrowing capacity	$ 500,000
Number of extensions | extension	2
Extension term	1 year

Debt - Summary of EQT common St

Debt - Summary of EQT common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	Jul. 22, 2022	Apr. 30, 2022	Mar. 31, 2022	Sep. 30, 2021
September 2021
Line of Credit Facility
Principal Converted				$ 9
Shares Issued (in shares)				599
Average Conversion Price (in USD per share)				$ 19.64
March 2022
Line of Credit Facility
Principal Converted			$ 8
Shares Issued (in shares)			536
Average Conversion Price (in USD per share)			$ 33.65
April 2022
Line of Credit Facility
Principal Converted		$ 26
Shares Issued (in shares)		1,742
Average Conversion Price (in USD per share)		$ 34.78
July 2022 | Subsequent Event
Line of Credit Facility
Principal Converted	$ 5
Shares Issued (in shares)	335
Average Conversion Price (in USD per share)	$ 36.91

Debt - Summary of Net Carrying

Debt - Summary of Net Carrying Amount of Convertible Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Apr. 30, 2020
Line of Credit Facility
Principal	$ 5,087,197	$ 5,643,652
Net carrying value of Convertible Notes	5,042,069	5,591,072
1.75% convertible notes due May 1, 2026 | Senior Notes
Line of Credit Facility
Principal	434,856	499,991	$ 500,000
Less: Unamortized debt issuance costs	9,631	12,448
Net carrying value of Convertible Notes	425,225	487,543
Fair value of Convertible Notes	$ 1,036,292	$ 854,985

Debt - Convertible Debt Notes (

Debt - Convertible Debt Notes (Details) - 1.75% convertible notes due May 1, 2026 - Senior Notes - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Line of Credit Facility
Effective interest rate	2.40%		2.40%
Contractual interest expense	$ 2,183	$ 2,187	$ 4,370	$ 4,375
Amortization of issuance costs	687	672	1,371	1,341
Total Convertible Notes interest expense	$ 2,870	$ 2,859	$ 5,741	$ 5,716

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share
Potentially dilutive securities included in the calculation of diluted earnings (in shares)	4,132,337
Potentially dilutive securities included in the calculation of diluted earnings (in shares)	33,300,000
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share
Shares excluded from potentially dilutive securities (in shares)		7,679,584	6,855,482	7,712,354
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share
Shares excluded from potentially dilutive securities (in shares)		33,300,000	33,400,000	33,300,000

Impairment of Contract Asset (D

Impairment of Contract Asset (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2020
Noncontrolling Interest [Line Items]
Cash payment option value for contract asset					$ 196,000		$ 196,000
Contract asset	$ 29,250		$ 29,250		29,000	$ 410,000	$ 410,000
Impairment of contract asset	$ 0	$ 0	$ 184,945	$ 0
Fair value of contract asset					$ 225,000
Equitrans Midstream
Noncontrolling Interest [Line Items]
Percentage of equity interest sold							50%

Alta Acquisition - Narrative (D

Alta Acquisition - Narrative (Details) a in Thousands, $ in Thousands		6 Months Ended
	Jul. 21, 2021 USD ($) MMcfe / d a mi shares	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Business Acquisition [Line Items]
Cash paid for acquisitions | $		$ 0	$ 209,764
Alta Acquisition
Business Acquisition [Line Items]
Cash paid for acquisitions | $	$ 1,000,000
Equity interest issued or issuable, number of shares (in shares) | shares	98,789,388
Acres acquired from asset acquisition | a	300
Units produced per day | MMcfe / d	1,000
Miles of midstream gathering systems acquired | mi	300
Miles acquired of freshwater system | mi	100

Alta Acquisition - Unaudited Pr

Alta Acquisition - Unaudited Pro Forma Information (Details) - Alta Acquisition - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Business Acquisition [Line Items]
Pro forma sales of natural gas, NGLs and oil	$ 1,254,006	$ 2,598,753
Pro forma loss on derivatives	(1,475,430)	(1,650,581)
Pro forma net marketing services and other	10,051	20,654
Pro forma total operating revenues	(211,373)	968,826
Pro forma net loss	(1,009,899)	(976,368)
Pro forma net loss attributable to noncontrolling interests	(62)	(576)
Pro forma net loss attributable to EQT Corporation	$ (1,009,837)	$ (975,792)
Pro forma income per share (basic) (in dollars per share)	$ (3.62)	$ (3.50)
Pro forma income per share (diluted) (in dollars per share)	$ (3.62)	$ (3.50)