EQT Corporation has announced the appointment of Gary E. Gould as executive vice president and chief operating officer, effective upon the commencement of his employment with EQT in April 2019.

Mr. Gould has more than three decades of relevant industry experience, including direct experience in the Marcellus basin. He most recently served as senior vice president, production and resource development at Continental Resources, Inc. Earlier in his career, he held positions at Chesapeake Energy Corporation, Kinder Morgan, Inc., ConocoPhillips, Burlington Resources, Inc. and Exxon Corporation.

“As evidenced by our strong fourth quarter performance, we are focused on enhancing operations, increasing efficiency and driving accelerated free cash flow growth,” said Rob McNally, EQT’s president and chief executive officer. “We have already implemented cost saving actions that reduced annual cash costs by approximately $150 million and we won’t stop there. With the support and oversight of Gary and our Operating and Capital Efficiency Committee, we expect to realize additional savings over the next five years through the successful execution of the ‘Target 10% Initiative’.”

Mr. McNally continued, 
“Gary has extensive operating experience in unconventional oil and gas, including work in the Marcellus, and a proven track record of driving operational efficiency and lowering costs to achieve superior results. We are confident that Gary will make invaluable contributions to our success as we transition to manufacturing mode, position EQT as a leading low-cost production company and create both near-and long-term value for our shareholders. This appointment is another example of our commitment to deliver on our plan to generate significant, sustainable free cash flow for EQT shareholders.”

“EQT is one of the premier natural gas producers in North America, with a strong financial position, dedicated leadership, and a world class asset base,” said Mr. Gould. “I am excited to join EQT’s senior management team and work collaboratively alongside them and our exceptional EQT employees to continue to execute on the strategic plan, enhance operating efficiencies, and drive shareholder value."