Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Eqt Names Chief Operating Officer in Effort to Trim Costs

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Eqt Names Chief Operating Officer in Effort to Trim Costs

Article excerpt

EQT Corp. has named a chief operating officer that the company said will help decrease costs, a major focus for the Downtown-based oil and gas company as it fights to ward off a proxy challenge.

Gary Gould is set to begin as an executive vice president and COO next month. Most recently, he oversaw Continental Resources Inc.'s production and resource development efforts. Before that, he worked for Chesapeake Energy Corp. when the Oklahoma-based company was among the most active players in the Marcellus Shale in Pennsylvania and West Virginia.

EQT CEO Rob McNally, who is facing a challenge to his leadership from shareholder brothers Derek and Toby Rice and at least one hedge fund, billed Mr. Gould's appointment as another step in EQT's financial renaissance.

"We have already implemented cost saving actions that reduced annual cash costs by approximately $150 million and we won't stop there," he said in a statement Thursday. …

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