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

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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).

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