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EXHIBIT 99
CONTACT: STEVE HALVONIK
MEDIA
412-456-3765
JEFFREY SWOVELAND
ANALYSTS
412-553-5869
EQUITABLE RESOURCES NAMES PRESIDENT OF PRODUCTION UNIT
o Hires Former Shell Oil Executive James M. Funk
Pittsburgh, June 12 - Equitable Resources (NYSE:EQT) has appointed
former Shell Oil executive James M. Funk as President of Equitable Production,
the firm's Appalachian natural gas unit, effective today. Mr. Funk will be
responsible for overall management of Equitable's Appalachian production and
gathering business.
During his 23-year tenure at Shell Oil, Mr. Funk held a variety of
positions--most recently as President of Shell Continental Companies--where he
acquired significant experience in managing production and gathering facilities
in geographically diverse areas (including operations in areas geologically
similar to Appalachia). He also served as General Manager of Geology for Shell
Oil Company, Vice President and General Manager of Shell Offshore and President
and CEO of Shell Midstream Enterprises, bringing with him a proven track record
of implementing innovative operating practices and improving business
performance. Mr. Funk earned his AB in Geology from Wittenberg University, MS in
Geology from the University of Connecticut and his Ph.D. in Geology from the
University of Kansas.
"Our focus is on increasing Equitable Production's operating efficiency
and financial returns and Jim can help us do that by bringing to our Appalachian
assets his world class technical and operational expertise," said Murry S.
Gerber, Equitable's Chairman, President and Chief Executive Officer.
This year, Equitable acquired the Appalachian production assets of
Statoil Energy, more than doubling Equitable's natural gas reserves in the
northeast United States energy market and making Equitable the largest natural
gas producer in the Appalachian region. In addition, Equitable transferred
ownership of its Gulf production assets to Westport Oil and Gas earlier this
year. Equitable maintains a significant minority ownership in Westport, which
Mr. Funk also serves as a director at the request of Equitable Resources.
Equitable Resources is an integrated energy company, with emphasis on
Appalachian area natural-gas production, natural-gas transmission and
distribution, and leading-edge energy-management services for customers
throughout the United States. The company also has energy-service management
projects in selected international markets.
EQUITABLE RESOURCES' RECENT NEWS RELEASES ARE AVAILABLE FREE BY FAX
THROUGH COMPANY NEWS ON CALL AT 1-800-758-5804, EXT. 289250, OR ON THE INTERNET
AT HTTP://WWW.EQT.COM.
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