Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Allocation of Purchase Price

The following table summarizes the purchase price and fair values of assets acquired and liabilities assumed as of July 21, 2021. The Company completed the purchase price allocation during the second quarter of 2022, at which time the value of the assets acquired and liabilities assumed were revised. The purchase accounting adjustments recorded in 2022 were not material to the Company's financial statements.

	Purchase Price Allocation
	(Thousands)
Consideration:
Equity	$	1,925,405
Cash	1,000,000
Total consideration	$	2,925,405
Fair value of assets acquired:
Cash and cash equivalents	$	43,199
Accounts receivable, net	159,539
Property, plant and equipment	3,145,630
Other assets	6,309
Amount attributable to assets acquired	$	3,354,677
Fair value of liabilities assumed:
Accounts payable	$	131,214
Derivative instruments, at fair value	169,744
Other current liabilities	10,127
Other liabilities and credits	118,187
Amount attributable to liabilities assumed	$	429,272

Schedule of Post-Acquisition Operating Results

The table below summarizes amounts contributed by the upstream, gathering and processing assets acquired in the Tug Hill and XcL Midstream Acquisition to the Company's consolidated results for the period from August 22, 2023 through December 31, 2023.

	August 22, 2023 through December 31, 2023
	(Thousands)
Sales of natural gas, NGLs and oil	$	220,500
Loss on derivatives	(1,039)
Net marketing services and other	1,879
Total operating revenues	$	221,340
Net loss	$	(26,988)

Such unaudited pro forma information is provided for informational purposes only and does not represent what consolidated results of operations would have been had the Tug Hill and XcL Midstream Acquisition occurred on January 1, 2022 nor are they indicative of future consolidated results of operations.

	Years Ended December 31,
	2023		2022
	(Thousands, except per share amounts)
Pro forma sales of natural gas, NGLs and oil	$	5,509,497	$	13,802,833
Pro forma gain (loss) on derivatives	1,996,570		(4,528,821)
Pro forma net marketing services and other	27,720		35,472
Pro forma total operating revenues	$	7,533,787	$	9,309,484
Pro forma net income	$	1,911,706	$	2,575,008
Less: Pro forma net (loss) income attributable to noncontrolling interests	(688)		9,977
Pro forma net income attributable to EQT Corporation	$	1,912,394	$	2,565,031
Pro forma income per share of common stock attributable to EQT Corporation:
Pro forma net income attributable to EQT Corporation – Basic	$	5.02	$	6.93
Pro forma net income attributable to EQT Corporation – Diluted	$	4.65	$	6.33

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

	Preliminary Purchase Price Allocation
	(Thousands)
Consideration:
Equity	$	2,152,631
Cash	2,386,982
Settlement of pre-existing relationships	(31,754)
Total consideration	$	4,507,859
Fair value of assets acquired:
Cash and cash equivalents	$	100
Accounts receivable, net	75,961
Derivative instruments, at fair value	162,455
Prepaid expenses and other	1,825
Property, plant and equipment	4,522,561
Other assets	9,463
Total amount attributable to assets acquired	$	4,772,365
Fair value of liabilities assumed:
Accounts payable	$	151,433
Other current liabilities	46,703
Other liabilities and credits	66,370
Total amount attributable to liabilities assumed	$	264,506