Acquisitions (Tables)

9 Months Ended

Sep. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Preliminary Purchase Price Allocation


	Preliminary Purchase Price Allocation

	(Thousands)
Consideration:
Equity	$	1,471,365
Cash	474,640
Total consideration	$	1,946,005

Fair value of assets acquired:
Derivative instruments, at fair value	$	13,188
Prepaid expenses and other	18
Property, plant and equipment	2,019,227
Amount attributable to assets acquired	$	2,032,433

Fair value of liabilities assumed:
Accounts payable	$	3,082
Derivative instruments, at fair value	66,711
Other current liabilities	1,712
Asset retirement obligations and other liabilities	14,923
Amount attributable to liabilities assumed	$	86,428

During the six months ended June 30, 2025, the Company recorded purchase accounting adjustments primarily related to deferred income taxes based on updated income tax computations as well as investments in unconsolidated entities and property, plant and equipment based on updated appraisal estimates.


	Purchase Price Allocation

	(Thousands)
Consideration:
Equity	$	5,548,608
Cash (paid in lieu of fractional shares)	29
Redemption of Equitrans Midstream preferred stock	685,337
Settlement of pre-existing relationships	(239,741)
Total consideration	$	5,994,233

Fair value of assets acquired:
Cash and cash equivalents	$	58,767
Accounts receivable, net	82,072
Income tax receivable	2,142
Prepaid expenses and other	22,048
Property, plant and equipment	9,379,999
Investments in unconsolidated entities	3,349,184
Net intangible assets	200,000
Other assets	249,846
Noncontrolling interest in consolidated subsidiaries	(163,241)
Amount attributable to assets acquired	$	13,180,817

Fair value of liabilities assumed:
Current portion of debt	$	699,837
Accounts payable	65,006
Accrued interest	47,996
Other current liabilities	70,951
Revolving credit facility borrowings	1,035,000
Senior notes	6,273,941
Deferred income taxes	904,044
Asset retirement obligations and other liabilities	152,271
Amount attributable to liabilities assumed	$	9,249,046

Goodwill	$	2,062,462

Schedule of Post-Acquisition Operating Results

The table below summarizes amounts contributed by the assets acquired in the Olympus Energy Acquisition to the Company's consolidated results of operation subsequent to the completion of the Olympus Energy Acquisition.


	July 1, 2025 through September 30, 2025

	(Thousands)
Sales of natural gas, natural gas liquids and oil	$	113,059
Pipeline and other	2,439
Total operating revenues	$	115,498

Net income attributable to EQT Corporation (a)	$	21,886

(a)Net income attributable to EQT Corporation includes $21.0 million of transaction costs related to the Olympus Energy Acquisition recognized during the post-acquisition period of July 1, 2025 through September 30, 2025. During the nine months ended September 30, 2025, the Company recognized $24.5 million of transaction costs related to the Olympus Energy Acquisition.

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

EQT Corp 10-Q