(Energy Analytics Institute, 29.Oct.2024) — EQT Corporation has entered into an agreement with Equinor USA Onshore Properties Inc. and Equinor Natural Gas LLC to sell its remaining interest in its non-operated natural gas assets in Northeast Pennsylvania.
Production from the assets is expected to be around 350 MMcf/d net in 2025, EQT said 29 Oct. 2024 in an official statement.
Consideration for the transaction is $1.25bn of cash, subject to customary purchase price adjustments, which EQT intends to use towards debt repayment.
The transaction has an effective date of 31 Dec. 2024 and is expected to close in the fourth quarter of 2024, subject to required regulatory approvals and clearances.
Jefferies LLC acted as a financial advisor to EQT. Kirkland & Ellis LLP is serving as EQT’s legal counsel on the transaction.
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