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EQT To Acquire All Membership Interests In Alta's Upstream And Midstream Subsidiaries WASHINGTON (dpa-AFX) - EQT Corp. (EQT) has entered into a purchase agreement with Alta Resources Development, LLC, pursuant to which EQT will acquire all of the membership interests in Alta's upstream and midstream subsidiaries for approximately $2.925 billion. The total purchase price consist of $1.0 billion in cash and approximately $1.925 billion in EQT common stock issued directly to Alta's shareholders. The stock consideration consists of approximately 105 million shares of EQT common stock representing...

by Bloomberg |Thursday, May 06, 2021 EQT's CEO said the deal marks "an attractive entry into the Northeast Marcellus." (Bloomberg) -- EQT Corp., the largest U.S. natural gas producer, agreed to acquire assets in Appalachia for $2.9 billion in cash and stock from closely held Alta Resources Development LLC. Shares fell the most in more than a year. The deal will give EQT Alta’s interests in upstream and midstream businesses and add 300,000 acres in the Marcellus Shale, the company said Thursday in a statement. The transaction, expected to close in the third quarter, will add about 1 billion...

ADVERTISEMENT Latham, Kirkland Craft Nearly $3B Oil And Gas Assets Deal Law360 (May 6, 2021, 11:56 AM EDT) -- Latham-advised EQT Corp. will pick up the upstream and midstream assets of private equity-backed shale oil and gas exploration company Alta Resources Development LLC, counseled by Kirkland & Ellis, in a deal worth almost $3 billion, the companies said Thursday. The transaction calls for Pittsburgh, Pennsylvania-based EQT to buy all of the membership interests in Houston, Texas-headquartered Alta's midstream and upstream subsidiaries for roughly $2.925 billion. The assets being acquire...

EQT Enters Northeast Pennsylvania in $2.9B Deal for Alta’s Marcellus Assets EQT Corp. agreed Thursday to acquire Alta Resources Development LLC in a $2.9 billion deal that would add another 300,000 net Marcellus Shale acres and give it entry into Northeast Pennsylvania.  The nation’s largest natural gas producer said the acquisition would push its volumes to 5.6 Bcfe/d from 4.6 Bcfe/d. Once completed, the company would hold 1.6 million net Marcellus acres. Management also said the assets would boost free cash flow (FCF), accelerate deleveraging targets and ultimately return the company t...