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Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt Instruments | The table below summarizes the Company's outstanding debt.
| December 31, 2024 |  | December 31, 2023
| Principal Value |  | Carrying Value (a) |  | Fair Value (b) |  | Principal Value |  | Carrying Value (a) |  | Fair Value (b)
| (Thousands)
EQT's revolving credit facility maturing July 23, 2029 | $ | 150,000 |  |  | $ | 150,000 |  |  | $ | 150,000 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Eureka's revolving credit facility maturing November 13, 2025 | 320,800 |  |  | 320,800 |  |  | 320,800 |  |  | — |  |  | — |  |  | — |
Term Loan Facility due June 30, 2026 | — |  |  | — |  |  | — |  |  | 1,250,000 |  |  | 1,244,265 |  |  | 1,244,265 |
Debentures and senior notes: |  |  |  |  |  |  |  |  |  |  |
EQT's 6.125% notes due February 1, 2025 (c) | — |  |  | — |  |  | — |  |  | 601,521 |  |  | 600,389 |  |  | 605,082 |
EQT's 1.75% convertible notes due May 1, 2026 | — |  |  | — |  |  | — |  |  | 290,177 |  |  | 286,185 |  |  | 768,554 |
EQT's 3.125% notes due May 15, 2026 | 392,915 |  |  | 391,193 |  |  | 382,994 |  |  | 392,915 |  |  | 389,978 |  |  | 373,261 |
EQT's 7.75% debentures due July 15, 2026 | 115,000 |  |  | 114,213 |  |  | 119,590 |  |  | 115,000 |  |  | 113,716 |  |  | 121,590 |
EQM's 7.500% notes due June 1, 2027 | 500,000 |  |  | 511,377 |  |  | 510,140 |  |  | — |  |  | — |  |  | — |
EQM's 6.500% notes due July 1, 2027 | 900,000 |  |  | 915,538 |  |  | 912,159 |  |  | — |  |  | — |  |  | — |
EQT's 3.90% notes due October 1, 2027 | 1,169,503 |  |  | 1,166,523 |  |  | 1,137,248 |  |  | 1,169,503 |  |  | 1,165,439 |  |  | 1,121,027 |
EQT's 5.700% notes due April 1, 2028 | 500,000 |  |  | 492,640 |  |  | 508,695 |  |  | 500,000 |  |  | 490,376 |  |  | 509,280 |
EQM's 5.500% notes due July 15, 2028 | 118,683 |  |  | 118,204 |  |  | 117,382 |  |  | — |  |  | — |  |  | — |
EQT's 5.00% notes due January 15, 2029 | 318,494 |  |  | 315,785 |  |  | 314,357 |  |  | 318,494 |  |  | 315,121 |  |  | 316,784 |
EQM's 4.50% notes due January 15, 2029 | 742,923 |  |  | 711,754 |  |  | 711,297 |  |  | — |  |  | — |  |  | — |
EQM's 6.375% notes due April 1, 2029 | 600,000 |  |  | 608,667 |  |  | 606,774 |  |  | — |  |  | — |  |  | — |
EQT's 7.000% notes due February 1, 2030 (c) | 674,800 |  |  | 671,641 |  |  | 718,358 |  |  | 674,800 |  |  | 671,020 |  |  | 726,645 |
EQM's 7.500% notes due June 1, 2030 | 500,000 |  |  | 535,671 |  |  | 534,950 |  |  | — |  |  | — |  |  | — |
EQM's 4.75% notes due January 15, 2031 | 1,100,000 |  |  | 1,045,219 |  |  | 1,039,995 |  |  | — |  |  | — |  |  | — |
EQT's 3.625% notes due May 15, 2031 | 435,165 |  |  | 430,818 |  |  | 388,111 |  |  | 435,165 |  |  | 430,141 |  |  | 389,925 |
EQT's 5.750% notes due February 1, 2034 | 750,000 |  |  | 742,796 |  |  | 744,743 |  |  | — |  |  | — |  |  | — |
EQM's 6.500% notes due July 15, 2048 | 80,233 |  |  | 81,338 |  |  | 81,932 |  |  | — |  |  | — |  |  | — |
EQT's note payable to EQM | — |  |  | — |  |  | — |  |  | 88,483 |  |  | 88,483 |  |  | 91,063 |
Total debt | 9,368,516 |  |  | 9,324,177 |  |  | 9,299,525 |  |  | 5,836,058 |  |  | 5,795,113 |  |  | 6,267,476 |
Less: Current portion of debt (d) | 320,800 |  |  | 320,800 |  |  | 320,800 |  |  | 296,424 |  |  | 292,432 |  |  | 774,983 |
Long-term debt | $ | 9,047,716 |  |  | $ | 9,003,377 |  |  | $ | 8,978,725 |  |  | $ | 5,539,634 |  |  | $ | 5,502,681 |  |  | $ | 5,492,493 |
(a)For EQT's revolving credit facility, Eureka's revolving credit facility and, as of December 31, 2023, EQT's note payable to EQM, the principal value represents carrying value. For all other debt, the principal value less the unamortized debt issuance costs and debt discounts and, for EQM's senior notes, the unamortized fair value adjustments recorded with Equitrans Midstream Merger purchase price accounting represents carrying value. (b)The carrying value of borrowings under EQT's revolving credit facility, Eureka's revolving credit facility and, as of December 31, 2023, the Term Loan Facility approximates fair value as their interest rates are based on prevailing market rates; therefore, the Company considers the fair value of EQT's revolving credit facility, Eureka's revolving credit facility and the Term Loan Facility to be Level 1 fair value measurements. As of December 31, 2023, the Company measured the fair value of EQT's note payable to EQM using Level 3 inputs. For all other debt, fair value is measured using Level 2 inputs. See Note 5 for the fair value hierarchy. (c)Interest rates for EQT's 7.000% senior notes fluctuate based on changes to the credit ratings assigned to EQT's senior notes by Moody's, S&P and Fitch. Prior to their redemption, interest rates for EQT's 6.125% senior notes fluctuated based on changes to the credit ratings assigned to EQT's senior notes by Moody's, S&P and Fitch. Interest rates for the Company's other senior notes do not fluctuate. (d)As of December 31, 2024, the current portion of debt included borrowings outstanding under Eureka's revolving credit facility. As of December 31, 2023, the current portion of debt included EQT's 1.75% convertible notes and a portion of EQT's note payable to EQM. Upon the closing of the Equitrans Midstream Merger, EQT's note payable to EQM became an intercompany transaction on a consolidated basis and, as such, was effectively settled on July 22, 2024.
Schedule of Debt Redeemed or Repurchased | The Company repaid, redeemed or repurchased the following debt during the year ended December 31, 2024.
Debt Tranche |  | Principal |  | Premiums/(Discounts) |  | Accrued but Unpaid Interest |  | Total Cost
|  | (Thousands)
EQM's 6.000% notes due July 1, 2025 (a) |  | $ | 400,000 |  |  | $ | 1,284 |  |  | $ | 11,933 |  |  | $ | 413,217 |
EQM's 4.125% notes due December 1, 2026 (a) |  | 500,000 |  |  | — |  |  | 1,662 |  |  | 501,662 |
EQM's 5.500% notes due July 15, 2028 (a) |  | 731,317 |  |  | 15,541 |  |  | 18,435 |  |  | 765,293 |
EQM's 4.50% notes due January 15, 2029 (a) |  | 57,077 |  |  | (713) |  |  | 1,177 |  |  | 57,541 |
EQM's 6.500% notes due July 15, 2048 (a) |  | 469,767 |  |  | 27,012 |  |  | 13,995 |  |  | 510,774 |
EQM's 4.00% notes due August 1, 2024 |  | 300,000 |  |  | — |  |  | 6,000 |  |  | 306,000 |
EQT's 6.125% notes due February 1, 2025 |  | 601,521 |  |  | 1,178 |  |  | 13,612 |  |  | 616,311 |
Term Loan Facility due June 30, 2026 |  | 1,250,000 |  |  | 15 |  |  | 6,136 |  |  | 1,256,151 |
EQT's 1.75% convertible notes due May 1, 2026 |  | 583 |  |  | — |  |  | — |  |  | 583 |
Total |  | $ | 4,310,265 |  |  | $ | 44,317 |  |  | $ | 72,950 |  |  | $ | 4,427,532 |
(a)In addition to call premiums (discounts) disclosed, EQM paid $7.8 million in third-party advisory costs and fees to dealer managers and brokers for the redemption of its 6.000% senior notes, redemption of its 4.125% senior notes and repayment of certain of its senior notes in the EQM Tender Offer (defined below).

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