EQT Announced Transformative Acquisition of Natural Gas Major Equitrans

SEATTLE (Oil Monster): EQT Corporation announced that it has entered into a definitive agreement with Equitrans Midstream Corporation, which in turn will lead into the creation of America's first large-scale, integrated natural gas producer, with an enterprise value exceeding $35 billion.

Under the terms of the agreement, EQT will acquire Equitrans in an all-stock transaction. The transaction is expected to close during the fourth quarter of 2024, subject to regulatory approvals and approval of the transaction by shareholders of both the companies. Upon closing of the transaction, three representatives from Equitrans will join EQT's Board of Directors. The combined company will be led by EQT's executive management team, said the company press release.

The acquisition will create a vertically integrated company with over 2,000 miles of pipeline infrastructure and substantial cost synergies. This will boost EQT's competitive edge in the global market.

The combined company will have 27.6 Tcfe of proved reserves. It will provide over 2,000 miles of irreplaceable pipeline infrastructure with extensive overlap and connectivity in EQT's core area of operations.

Equitrans is the most strategic and transformational transaction EQT has ever pursued, said Toby Z. Rice, President and CEO, EQT.

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