Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MCCONOMY THOMAS A
  2. Issuer Name and Ticker or Trading Symbol
EQUITABLE RESOURCES INC /PA/ [EQT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
413 WOODLAND ROAD
3. Date of Earliest Transaction (Month/Day/Year)
11/27/2007
(Street)

SEWICKLEY, PA 15143
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/27/2007   M   15,200 A $ 18.12 47,496 D  
Common Stock 11/27/2007   M   6,800 A $ 12.2188 54,296 D  
Common Stock 11/27/2007   M   15,200 A $ 19.5625 69,496 D  
Common Stock 11/27/2007   M   4,836 A $ 28.3025 74,332 D  
Common Stock 11/27/2007   M   4,868 A $ 28.3025 79,200 D  
Common Stock 11/27/2007   F   5,260 D $ 52.365 73,940 D  
Common Stock 11/27/2007   F   1,587 D $ 52.365 72,353 D  
Common Stock 11/27/2007   F   5,678 D $ 52.365 66,675 D  
Common Stock 11/27/2007   F   2,631 D $ 52.365 64,044 D  
Common Stock 11/27/2007   F   2,613 D $ 52.365 61,431 D  
Common Stock               23,072 I Deferred Compensation

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option (Right-to-Buy) $ 12.2188 11/27/2007   M     6,800 05/17/2001 05/17/2010 Common Stock 6,800 $ 0 0 D  
Option (Right-to-Buy) $ 18.12 11/27/2007   M     15,200 05/16/2003 05/16/2012 Common Stock 15,200 $ 0 0 D  
Option (Right-to-Buy) $ 19.5625 11/27/2007   M     15,200 05/17/2002 05/17/2011 Common Stock 15,200 $ 0 0 D  
Option (Right-to-Buy) $ 28.3025 11/27/2007   M     4,868 11/04/2004 05/26/2009 Common Stock 4,868 $ 0 0 D  
Option (Right-to-Buy) $ 28.3025 11/27/2007   M     4,836 11/04/2004 05/17/2010 Common Stock 4,836 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MCCONOMY THOMAS A
413 WOODLAND ROAD
SEWICKLEY, PA 15143
  X      

Signatures

 THOMAS A MCCONOMY   11/29/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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