EQT Corporation
EQT Corporation Completes Sale of Non-Operated Natural Gas Assets in Northeast Pennsylvania
Summary
On May 31, 2024, EQT Corporation completed the sale of a 40% interest in its non-operated natural gas assets in Northeast Pennsylvania to Equinor USA Onshore Properties Inc. and its affiliates. In exchange, EQT received $500 million in cash, 26,000 net acres in Monroe County, Ohio, 10,000 net acres in Lycoming County, Pennsylvania, and a 16.25% ownership interest in gathering systems servicing Lycoming County. The transaction also includes a gas buy-back agreement where Equinor will purchase natural gas from EQT through the first quarter of 2028.
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About EQT Corporation
EQT Corporation is a leading natural gas producer with significant operations in the Appalachian Basin, one of the richest natural gas fields in the United States. As a key player in the energy sector, EQT focuses primarily on the exploration, production, and distribution of natural gas, thereby playing an integral role in the energy supply chain. The company's operations are anchored in advanced drilling techniques and technologies aimed at maximizing efficiency and environmental compatibility. EQT's commitment to sustainable practices is evident in its efforts to reduce carbon emissions and enhance energy production technologies. Serving both domestic and international markets, EQT's robust infrastructure and strategic asset base ensure a reliable energy supply, shaping the dynamics of the natural gas market. By leveraging its scale and operational expertise, EQT contributes significantly to energy security and economic growth, making it a pivotal entity within the global energy landscape.
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