Published on 16 Apr 2024 on Zacks via Yahoo Finance
EQT Corp (EQT) to Divest Pennsylvania Natural Gas Assets
EQT Corporation EQT has announced a significant transaction involving its non-operated natural gas assets in northeast Pennsylvania. Under the deal, valued at $500 million in cash, EQT Corp will divest a 40% interest in these assets to Equinor ASA EQNR.
As part of the deal, EQT Corp will not only receive cash but also acquire additional assets from Equinor. These include 26,000 net acres in Monroe County, OH, and about 10,000 net acres in Lycoming County, PA. The newly acquired assets are projected to yield considerable production volumes by 2025, estimated at 135 million cubic feet equivalent per day (MMcfe/d) and 15 MMcfe/d, respectively.