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 on Form 10-K and Form
10-K/A No. 1 for the year ended  December 31, 1995 ("the 1995  Equitable  Annual
Report") 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
the  1995  Equitable  Annual  Report  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  the  1995  Equitable  Annual  Report  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 the 1995  Equitable  Annual Report 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
April 26, 1996