EQT to buy Alta Resources’ Marcellus shale assets for $2.9B
Monday, May 10, 2021
The largest natural gas producer in the U.S. has agreed to acquire more Appalachian assets in a $2.9 billion deal with Alta Resources Development LLC, according to Bloomberg.
EQT Corp. will acquire Alta’s interests in upstream and midstream businesses and add 300,000 acres in the Marcellus Shale. The deal comes six months after EQT agreed to purchase Chevron Corp’s Appalachian assets for $735 million.
The transaction is expected to close in the third quarter. It will add about 1 billion cubic feet per day equivalent of natural gas production and boost EQT’s free cash flow by as much as $400 million.
Learn more: Bloomberg > EQT to Buy Appalachia Shale Gas Assets for $2.9 Billion
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Depending on the company, royalty payments can arrive monthly or quarterly.
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