|
| |
| 225 North Shore Drive | |
| Pittsburgh, PA 15212-5861 | |
| www.eqt.com |
November 20, 2007
Mr. James Allegretto
Senior Assistant Chief Accountant
Securities and Exchange Commission
CF/AD2
100 F Street, NE
Washington, D.C. 20549-3561
Re: Equitable Resources, Inc. (or the “Company”)
Form 10-K for Fiscal Year Ended December 31, 2006
Filed February 23, 2007
Form 10-Q for Fiscal Quarter Ended June 30, 2007
Filed July 26, 2007
File No. 1-03551
Dear Mr. Allegretto:
This letter is a follow-up to our letter to you dated October 29, 2007, which was in response to your letter dated September 28, 2007. A formatting error caused the first table in our response to SEC Comment 1 to be incorrect. Attached below is the correct table:
|
| For the Year Ended December 31, |
| ||||||||||||||||
(in thousands) |
| 2006 |
| 2005 |
| 2004 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
2005 Executive Performance Incentive Program (EPIP) expense |
| $ | 21,111 |
|
|
| $ | 22,465 |
|
|
| $ | — |
|
|
| |||
2003 EPIP expense |
| — |
|
|
| 21,345 |
|
|
| 19,171 |
|
|
| ||||||
2002 EPIP expense |
| — |
|
|
| — |
|
|
| 6,997 |
|
|
| ||||||
Director stock units |
| 1,111 |
|
|
| 1,197 |
|
|
| 795 |
|
|
| ||||||
Total Liability Awards |
|
|
| $ | 22,222 |
|
|
| $ | 45,007 |
|
|
| $ | 26,963 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
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Restricted stock awards |
| 3,450 |
|
|
| 3,356 |
|
|
| 3,800 |
|
|
| ||||||
Option awards |
| 976 |
|
|
| — |
|
|
| — |
|
|
| ||||||
Total Equity Awards |
|
|
| 4,426 |
|
|
| 3,356 |
|
|
| 3,800 |
| ||||||
Total share-based compensation expense |
|
|
| 26,648 |
|
|
| 48,363 |
|
|
| 30,763 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Less share-based liabilities paid during year |
|
|
| (51,709 | ) |
|
| (16,714 | ) |
|
| — |
| ||||||
Net cash (used in) provided by cash flows from operating activities |
|
|
| $ | (25,061 | ) |
|
| $ | 31,649 |
|
|
| $ | 30,763 |
| |||
If you have any questions regarding the Company’s responses provided herein, please do not hesitate to call me
(412-553-5863).
Sincerely, |
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/s/ Philip P. Conti |
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Philip P. Conti |
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Senior Vice President and |
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Chief Financial Officer |
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cc: | Johanna G. O’Loughlin, Esq. | ||