EQT trying to acquire rival CNX
Wednesday, October 28, 2020
EQT Corp. wants to acquire rival CNX Resources Corp., according to Kallanish Energy. If realized, the deal would make EQT, which is already the No. 1 natural gas producer in the United States, even bigger.
The company recently sent a takeover proposal to CNX; however, no decision has been reached and EQT could decide not to move forward, Bloomberg said in a report, citing unnamed sources.
Both companies declined comment on the report.
EQT produced about 4 billion cubic of natural gas per day in the first quarter 2020, 44% more than No. 2 ExxonMobil. CNX produced about 1.38 billion a day in that quarter.
Learn more: Kallanish Energy > EQT to acquire CNX: Bloomberg
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