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In 1888, Equitable Gas Company was incorporated as a subsidiary of Philadelphia Company.
Over the course of Sweden’s modern history, the Wallenberg family has been the main influencer of the country’s industrial, entrepreneurial and banking sphere, partly through its investment company Investor AB, founded in 1916.
In 1950, the company separated from the Philadelphia Company and listed on the New York Stock Exchange.
In 1984, the company changed its corporate name to Equitable Resources, Inc.
The idea of starting a private equity firm, rooted in the Wallenberg family’s traditions of responsible ownership, was born in 1993 during a dinner in Stockholm’s Old Town.
In 1995, the company offered the first fixed bill energy contract in United States where what a customer pays for energy is fixed no matter what the weather does.
In 1997, the company also acquired offshore oil and gas fields from Chevron Corporation for $80.6 million.
Over the coming years, EQT continued to grow its presence in the Nordics and with a strong track record of successful investments, EQT made its first major international move with the opening of its Munich office in 1999, despite many critics encouraging EQT to stay on its home turf.
In 2000, the company acquired Appalachian wells and reserves from Statoil.
By 2006, the time had come to head East, and EQT’s Hong Kong office was opened.
2008 was also the year when EQT opened its New York office and published its first Annual Review with the goal of increasing transparency towards broader groups of stakeholders.
After establishing a comprehensive advisory network within various infrastructure sub-sectors, EQT was confident that its proven business model could provide a different approach to infrastructure investing than what was available in the market at the time. Therefore, the decision was made to formally launch an Infrastructure business line in 2008, initially led by former members of EQT’s advisory network.
In February 2009, the company changed its name from Equitable Resources, Inc. to EQT Corporation.
2010 was the year when EQT accelerated its sustainability actions and became signatory to the UN Principles for Responsible Investment (UN PRI). It was also around this time EQT established its sector teams, which enabled a more sophisticated deal sourcing process for EQT’s prioritized industries.
In 2011, EQT opened one of the first compressed natural gas (CNG) fueling stations in the Strip District of Pittsburgh.
In 2011, David L. Porges became chief executive officer of the company.
In an effort to increase transparency and facilitate regulatory consistency at all levels of the organization, EQT resolved to manage all its future funds onshore in Europe in 2012.
Over time, Partners at EQT increased their ownership and by 2013, they owned 81 percent of EQT AB with Investor AB owning the remaining 19 percent.
As EQT continued to grow, additional efforts were made to attract, develop and retain the best possible talent and in 2013, EQT Academy was established.
In 2013, the company sold its natural gas distribution business to Peoples Natural Gas for $740 million.
In 2014, there was a changing of the guard at EQT as Thomas von Koch was appointed CEO and Conni Jonsson entered the role of full-time working Chairperson.
In March 2017, Steven Schlotterbeck became chief executive officer of the company.
In November 2017, the company acquired Rice Energy.
In 2017 EQT took the next step in future-proofing its fund management by establishing one hub in Luxembourg for future fund domi-ciliation.
In December 2018, the firm's shareholders decided on a reorganization with the main purpose of establishing EQT AB as the ultimate parent company in the EQT AB Group and to align the ownership interests in the company.
In July 2019, Toby Rice became chief executive officer of the company.
|Company Name||Founded Date||Revenue||Employee Size||Job Openings|
|The Williams Companies||1908||$11.0B||5,425||106|
|Energy Transfer Solutions||2003||$8.5M||75||-|
|Helmerich & Payne||1920||$2.1B||9,777||31|
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EQT may also be known as or be related to EQT, EQT Corp, EQT Corp., EQT Corporation and Eqt Corporation.