EQT Corporation is one of the largest natural gas producers in the United States, extracting natural gas primarily from the Marcellus and Utica shale formations in the Appalachian Basin using horizontal drilling and hydraulic fracturing techniques. As a natural gas producer, EQT's revenue and profitability are directly tied to natural gas prices, which can be volatile based on weather patterns, storage levels and broader supply and demand balances across the natural gas market. The company has grown partly through acquisitions of other Appalachian natural gas producers and pipeline infrastructure, building a more vertically integrated position spanning production and the midstream infrastructure needed to move gas to market. EQT's results benefit from growing demand for natural gas as a power generation fuel and increasingly for export as liquefied natural gas, giving it exposure to both domestic electricity demand and international gas markets.