EQT works on deal to buy THQ Appalachia, XcL Midstream
Wednesday, September 7, 2022
EQT Corp. is working on a deal to acquire THQ Appalachia I LLC to expand its operations in the Marcellus Shale, according to Bloomberg.
According to Bloomberg’s sources, who asked not to be named, THQ Appalachia, backed by Tug Hill Operating and Quantum Energy Partners, and some midstream assets would be valued in the deal at about $5.2 billion.
Additionally, the transaction will include Tug Hill’s XcL Midstream, a pipeline firm that moves gas in Appalachia to market.
An announcement is expected soon if a deal is reached, however, sources said that advanced talks could end without one.
Learn more: Bloomberg > US Gas Firm EQT Nears Deal to Buy Appalachia Producer, Midstream Assets
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