HIGHBuilt-inGeographic
93%
Marcellus Shale
“10-K Item 1: '93% of our total proved reserves are located in the Marcellus Shale'”
EQT · Concentration risk · 10-K extracted
EQT (EQT) concentration risks
Updated
The most significant concentration EQT discloses is Marcellus Shale at 93%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: EQT’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH3
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inGeographic
Appalachian Basin
“10-K Item 1: 'Substantially all of our assets and operations are located in the Appalachian Basin'”
HIGHBuilt-inCommodity
natural gas
“10-K Item 1: 'Our revenues, earnings and liquidity are substantially dependent on the prices we receive for, and our ability to develop our reserves of, natural gas, NGLs and oil, which are also largely dependent on natural gas prices'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is defined by three mutually reinforcing high-share structural exposures that create a tightly correlated risk profile. The most specific geographic concentration is the Marcellus Shale, where 93% of total proved reserves are located — a high-share structural tilt reflecting decades of capital deployment in a single formation. Broader than that, substantially all assets and operations are located in the Appalachian Basin, a high-share structural concentration that encompasses the Marcellus and related formations in the same regional footprint. Layered on top of the geographic concentration is a commodity dependency: revenues, earnings, and liquidity are substantially dependent on natural gas prices, a high-share structural exposure given that the company's production mix is heavily weighted toward natural gas, NGLs, and oil prices that are largely co-determined by natural gas market conditions. This commodity concentration means the company's financial performance is highly sensitive to Henry Hub prices and regional basis differentials in Appalachian markets. The three exposures compound each other: the company is a single-basin, single-commodity producer whose financial outcomes are almost entirely determined by natural gas price realizations in a geographically constrained market. There is no customer, supplier, or product diversification to buffer against a sustained period of low natural gas prices or Appalachian takeaway capacity constraints. These interconnected exposures are the dominant risk factors in the profile.
For the engine’s reasoning on EQT’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Oil & Gas E&P
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BKV | BKV Corporation | 4 | 0 | 0 | 4 |
| EQT● | EQT Corporation | 3 | 0 | 0 | 3 |
| CHRD | Chord Energy Corporation | 2 | 1 | 0 | 3 |
| BSM | Black Stone Minerals, L.P. | 1 | 1 | 1 | 3 |
| APA | APA Corporation | 0 | 0 | 0 | 0 |
| AR | Antero Resources Corporation | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.