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EQT Names Robert McNally as Next President and Chief Executive Officer

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EQT Corporation (NYSE:EQT), today announced that Robert J. McNally,
EQT's current Chief Financial Officer, will become President and Chief
Executive Officer upon completion of the Company's upstream and
midstream business separation. McNally will succeed David L. Porges who
has been acting as interim President and Chief Executive Officer of EQT
since March of this year.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180809005199/en/

Robert J. McNally

Robert J. McNally

As part of the business separation, Porges will also step down from the
EQT Board of Directors; and James E. Rohr, currently lead independent
director of EQT's Board, will become Chairman. Post-separation, Porges
will become Chairman of the Board of Directors for Equitrans Midstream
Corporation, the anticipated new, publicly traded midstream company.

Mr. Rohr stated, "Rob McNally has been an integral member of the EQT
leadership team, helping to steer the Company through several
transformative transactions, which ultimately will culminate with the
upcoming upstream/midstream business separation. His deep financial
experience and understanding of the sector will serve EQT and its
shareholders well as it enters its next phase as a pure-play upstream
business."

"It is an honor to be chosen as CEO of EQT Corporation and I am thrilled
to have this opportunity to lead our employees and shareholders into an
exciting new chapter of EQT's transformation," said McNally. "I have
worked closely with Dave and other members of EQT's leadership team and
Board of Directors for the past few years and, collectively, we have
accomplished tremendous milestones that have positioned EQT for
continued shareholder value creation. Post-separation, I look forward to
working alongside our dedicated team of employees who share my
commitment to the long-term success of our Company."

McNally has been Senior Vice President and Chief Financial Officer of
EQT since March 2016. During this time, he also served as Senior Vice
President and Chief Financial Officer, and as a member of the Board of
Directors, for EQT Midstream Services, LLC, the general partner of EQT
Midstream Partners, LP and EQT GP Services, LLC, the general partner of
EQT GP Holdings, LP. McNally has more than 24 years of direct experience
in the energy sector. Prior to joining EQT, he was Executive Vice
President and Chief Financial Officer of Precision Drilling Corporation,
a Calgary based oil and natural gas contract drilling, completions, and
production services provider. He also has a strong capital markets
background, which includes oversight of investments in energy technology
start-ups at Kenda Capital LLC; an initial public offering while with
Warrior Energy Services Corp.; and several years of investment banking
and M&A advisory experience with Simmons & Company International.
McNally began his career with Schlumberger, working first in operations
and then in sales.

"Along with a solid business foundation, Rob has substantial financial
acumen and I am confident that his expertise will help to maintain our
strong financial platform and leading cost structure, as well as enhance
EQT's position as an industry leader in the drilling and production of
natural gas," stated Porges. "In addition, having Rob take the helm as
CEO provides a sense of stability for our employees who have been
working diligently for many months – first on the transition activities
related to last year's acquisition, and now on the various tasks related
to business separation. The future holds endless opportunities for EQT
employees and shareholders – and as we prepare for this seamless,
successful leadership transition, I look forward to many more good
things to come."

The proposed Separation remains subject to customary conditions,
including receipt of a private letter ruling from the Internal Revenue
Service with respect to the tax treatment of the transaction for U.S.
federal income tax purposes, the effectiveness of a Form 10 registration
statement to be filed with the Securities and Exchange Commission for
the shares of Equitrans Midstream Corporation, and final approval and
declaration of the spin-off dividend by the EQT Board of Directors.

About EQT Corporation:

EQT Corporation is an integrated energy company with emphasis on
Appalachian area natural gas production, gathering, and transmission.
With more than 130 years of experience and a long-standing history of
good corporate citizenship, EQT is the largest producer of natural gas
in the United States. As a leader in the use of advanced horizontal
drilling technology, EQT is committed to minimizing the impact of
drilling-related activities and reducing its overall environmental
footprint. Through safe and responsible operations, EQT is helping to
meet our nation's growing demand for clean-burning energy, while
continuing to provide a rewarding workplace and enrich the communities
where its employees live and work. EQT owns the general partner interest
and a 91% limited partner interest in EQT GP Holdings, LP. EQT GP
Holdings, LP owns the general partner interest, all of the incentive
distribution rights, and a portion of the limited partner interest in
EQT Midstream Partners, LP.

Visit EQT Corporation at www.EQT.com;
and to learn more about EQT's sustainability efforts, please visit https://csr.eqt.com.

Cautionary Statements

Disclosures in this news release contain certain forward-looking
statements within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended, and Section 27A of the Securities Act of 1933,
as amended. Statements that do not relate strictly to historical or
current facts are forward-looking. Without limiting the generality of
the foregoing, forward- looking statements contained in this news
release specifically include the expectations of plans, strategies,
objectives and growth and anticipated financial and operational
performance of EQT and its subsidiaries, including the timing of any
separation involving the production and midstream businesses; whether
the conditions to the separation can be satisfied; and the expectations
of management and board of director transition plans of EQT and EQT's
subsidiaries. These statements involve risks and uncertainties that
could cause actual results to differ materially from projected results.
Accordingly, investors should not place undue reliance on
forward-looking statements as a prediction of actual results. EQT has
based these forward-looking statements on current expectations and
assumptions about future events. While EQT considers these expectations
and assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory and other risks
and uncertainties, many of which are difficult to predict and beyond
EQT's control. The risks and uncertainties that may affect the
operations, performance and results of EQT's business and
forward-looking statements include, but are not limited to, those set
forth under Item 1A, "Risk Factors" of EQT's Form 10-K for the year
ended December 31, 2017, as updated by any subsequent Form 10-Qs.

Any forward-looking statement speaks only as of the date on which such
statement is made and EQT does not intend to correct or update any
forward-looking statement, whether as a result of new information,
future events or otherwise.

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