EQT Corporation is a vertically integrated natural gas company that produces and sells natural gas, natural gas liquids, and oil from operations concentrated in the Appalachian Basin, while operating gathering and transmission pipeline networks that serve both its upstream production and third-party customers. The company generates revenues primarily from commodity sales of its produced energy resources at market-based prices, complemented by stable, long-term contractual revenues from midstream gathering and transmission services that operate under firm capacity agreements. Its business model emphasizes low-cost production efficiency through large-scale development practices, disciplined capital allocation toward organic growth and shareholder returns, and a vertically integrated infrastructure platform that generates durable cash flow across commodity price cycles by combining upstream exploration and production with owned midstream assets serving regional and distant markets.