Exhibit 23.01



                         CONSENT OF INDEPENDENT AUDITORS


      We consent to the  incorporation by reference of our report dated February
13, 1996, with respect to the consolidated  financial statements and schedule of
Equitable  Resources,  Inc.  included in this Annual  Report (Form 10-K) for the
year  ended  December  31,  1995  in  the  Prospectus   part  of  the  following
Registration Statements:

      Registration   Statement   No.   33-52151  on  Form  S-8
      pertaining  to  the  1994  Equitable   Resources,   Inc.
      Long-Term Incentive Plan;

      Registration   Statement   No.   33-52137  on  Form  S-8
      pertaining  to  the  1994  Equitable   Resources,   Inc.
      Non-Employee Directors' Stock Incentive Plan;

      Registration  Statement on Form S-8 filed on March 22, 1996,
      pertaining to the Equitable Resources, Inc.
      Employee Stock Purchase Plan;

      Post-Effective   Amendment   No.   2   to   Registration
      Statement  No.  2-69010  on Form S-8  pertaining  to the
      Equitable Resources,  Inc. Key Employee Restricted Stock
      Option   and   Stock   Appreciation   Rights   Incentive
      Compensation Plan;

      Post-Effective   Amendment   No.   1   to   Registration
      Statement  No.  33-00252 on Form S-8  pertaining  to the
      Equitable Resources, Inc. Employee Savings Plan;

      Post-Effective   Amendment   No.   1   to   Registration
      Statement  No.  33-10508 on Form S-8  pertaining  to the
      Equitable Resources,  Inc. Key Employee Restricted Stock
      Option   and   Stock   Appreciation   Rights   Incentive
      Compensation Plan;

      Registration   Statement   No.   33-53703  on  Form  S-3
      pertaining to the  registration of  $100,000,000  Medium
      Term Notes, Series C of Equitable Resources, Inc.

      We also  consent to the  incorporation  by  reference  of our report dated
March 8, 1996 with  respect to the  financial  statements  and  schedules of the
Equitable  Resources,  Inc.  Employee Savings Plan included in the Annual Report
(Form 11-K) for the year ended October 31, 1995, included in Exhibit 99.01(a) to
this  Annual  Report  (Form  10-K)  into  Post-Effective   Amendment  No.  1  to
Registration  Statement  No.  33-00252 on Form S-8  pertaining  to the Equitable
Resources, Inc. Employee Savings Plan.

      We also  consent to the  incorporation  by  reference  of our report dated
March 8, 1996 with  respect to the  financial  statements  and  schedules of the
Equitable  Resources,  Inc.  Employee  Savings Plan  included in the  Transition
Period  Report (Form 11-K) for the  two-month  period  ended  December 31, 1995,
included  in  Exhibit   99.01(b)  to  this  Annual   Report   (Form  10-K)  into
Post-Effective  Amendment No. 1 to  Registration  Statement No. 33-00252 on Form
S-8 pertaining to the Equitable Resources, Inc.
Employee Savings Plan.

      We also  consent to the  incorporation  by  reference  of our report dated
March  8,  1996  with  respect  to the  financial  statements  of the  Equitable
Resources, Inc. Employee Stock Purchase Plan included in the Annual Report (Form
11-K) for the  three-month  period ended December 31, 1995,  included in Exhibit
99.02 to this Annual Report (Form 10-K) into the Registration  Statement on Form
S-8  filed on March  22,  1996,  pertaining  to the  Equitable  Resources,  Inc.
Employee Stock Purchase Plan.






                                  By     /s/ Ernst & Young LLP
                                             Ernst & Young LLP




Pittsburgh, Pennsylvania
March 22, 1996