Legal Proceedings
−Removed: In the ordinary course of business, various legal and regulatory claims and proceedings are pending or threatened against us.
−Removed: While the amounts claimed may be substantial, we are unable to predict with certainty the ultimate outcome of such claims and proceedings.
−Removed: We accrue legal and other direct costs related to loss contingencies when actually incurred.
−Removed: We have established reserves in amounts that we believe to be appropriate for pending matters and, after consultation with counsel and giving appropriate consideration to available insurance, we believe that the ultimate outcome of any pending matter involving us will not materially affect our financial position, results of operations or liquidity.
−Removed: Except as disclosed below, there are no material updates to the matters previously disclosed in the "Legal Proceedings" section of our Annual Report on Form 10-K for the year ended December 31, 2024 and in the "Legal Proceedings" section of our Quarterly Reports on Form 10-Q for the periods ended March 31, 2025 and June 30, 2025.
+Added: Except as disclosed below, there are no material updates to the matters previously disclosed in the "Legal Proceedings" section of EQT's Annual Report on Form 10-K for the year ended December 31, 2025.
Environmental Proceedings
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Venting at the Rager Mountain Facility was halted on November 19, 2022.
−Removed: Since the time of the incident, the Pennsylvania Department of Environmental Protection (PADEP) has concluded its investigation and the Pipeline and Hazardous Materials Safety Administration (PHMSA) and other investigators are continuing to conduct civil and criminal investigations of the incident, and we are cooperating in such investigations.
+Added: Since the time of the incident, the Pennsylvania Department of Environmental Protection (the PADEP) has concluded its investigation and the Pipeline and Hazardous Materials Safety Administration (the PHMSA) and other investigators are continuing to conduct civil and criminal investigations of the incident, and we are cooperating in such investigations.
On December 29, 2022, the PHMSA issued Equitrans Midstream a Notice of Proposed Safety Order that included proposed remedial requirements related to the Rager Mountain Facility incident, including, but not limited to, completing a root cause analysis, and subsequently, on May 26, 2023, the PHMSA issued a consent order to Equitrans Midstream requiring the completion of a root cause analysis and a remedial work plan and providing that Equitrans Midstream may not resume injection operations at the Rager Mountain Facility until authorized by the PHMSA.
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On May 30, 2024, the PHMSA approved resuming operations for one of the three remaining wells excluded from the injection plan.
−Removed: We plan to continue working with the PHMSA, pursuant to the consent order between the PHSMA and Equitrans Midstream, regarding the remaining two disconnected wells at the Rager Mountain Facility.
−Removed: On October 17, 2025, the PHMSA issued a Notice of Probable Violation and Proposed Civil Penalty pertaining to this matter, pursuant to which the PHMSA recommended assessing a civil penalty of $939,000.
+Added: The corrective measures in the May 2023 consent order with the PHMSA have been completed, all wells at the Rager Mountain Facility have returned to service, and on January 9, 2026, we submitted a request to the PHMSA that the consent order be terminated.
+Added: On October 17, 2025, the PHMSA issued a Notice of Probable Violation and Proposed Civil Penalty pertaining to this matter, pursuant to which the PHMSA recommended assessing a civil penalty.
+Added: On April 21, 2026, the PHMSA issued a consent order incorporating the terms of a consent agreement we entered into with the PHMSA (the Rager Agreement).
+Added: The Rager Agreement resolved the allegations pertaining to this matter and set the civil penalty amount at $466,550.
We expect that the resolution of this matter, including the payment of the civil penalty, will not have a material adverse impact on our financial condition, results of operations or liquidity.
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however, we expect that the resolution of this matter will not have a material adverse impact on our financial condition, results of operations or liquidity.
−Removed: Plugging and Abandoning of Wells at the Holbrook Storage Reservoir, Center Township, Pennsylvania.
−Removed: One of our wholly-owned subsidiaries, EQT Gathering, LLC, is the owner of fifteen inactive storage wells within the Holbrook storage reservoir located in Center Township, Pennsylvania.
−Removed: The wells have been inactive since 2021.
−Removed: On June 10, 2024, we were notified by the PADEP of alleged violations of the 2012 Oil and Gas Act, which requires wells located in Pennsylvania which are inactive for a period of twelve months to be reported to the PADEP as "inactive" and plugged.
−Removed: On August 22, 2025, we entered into an agreement with the PADEP, pursuant to which we agreed to plug the inactive wells in accordance with the 2012 Oil and Gas Act and resolve this matter, and in connection therewith, we have been assessed a monetary penalty of $290,000.
−Removed: The full amount of the monetary penalty was paid on September 19, 2025 and this matter is now closed.
There are no material changes to the risk factors previously disclosed in the "Risk Factors" section of EQT's Annual Report on Form 10-K for the year ended December 31, 2025.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.