EQT expands with purchase of Chevron’s Appalachian assets
Thursday, October 29, 2020
EQT Corp. strengthened its foothold as the No. 1 producer of natural gas in the United States, reaching a definitive purchase and sale agreement with Chevron USA Inc. to acquire its oil and gas assets in the Appalachian Basin, according to Kallanish Energy.
The $735 million sale includes 500 producing wells that produce about 450 million cubic feet equivalent per day with that production being 75% natural gas and 25% liquids. That production will boost EQT’s total production by about 11%.
The sale also includes 335,000 total net Marcellus Shale acres including 125,000 core net Marcellus acres, plus a stake in the Laurel Mountain Midstream pipeline system and two water systems and associated infrastructure in western Pennsylvania and West Virginia.
Learn more: Kallanish Energy > EQT buys Chevron’s Appalachian assets
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