EQT Corporation (NYSE: EQT) (the Company or EQT) announced today that it has commenced an underwritten public offering of 20,000,000 shares of its common stock (the Offering). The Company intends to grant the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of its common stock. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.

The Company intends to use the net proceeds from the Offering to partially fund the purchase price of the Company's recently announced acquisition of certain upstream and midstream assets located in the Appalachian Basin from Chevron U.S.A. Inc. (the Chevron Acquisition). The consummation of the Offering is not conditioned upon the completion of the Chevron Acquisition and the consummation of the Offering is not a condition to the completion of the Chevron Acquisition. If the Chevron Acquisition is not consummated, the Company intends to use the net proceeds of the Offering to repay or redeem outstanding indebtedness, including those with near-term maturities, and for general corporate purposes.