EQT Expands Appalachian Footprint With Alta Acquisition
–Journal of Petroleum Technology
The largest natural gas producer in the US, EQT Corporation, will purchase Alta Resources Development LLC in a cash and stock deal valued at around $2.93 billion. Alta is a private-equity-backed producer led by Blackstone Group. EQT said it will pay $1 billion to Alta in cash and the rest in stock. It expects to fund the cash portion partly by drawing on its credit facilities and new debt. The deal will add around 1 billion cubic feet equivalent gas production to EQT's portfolio and is expected to be accretive to free cash flow and net asset value per share, according to the company.
Journal of Petroleum Technology
May, 2021
- Country:
- North America > United States (0.58)
- Geology:
- Oilfield Places:
- Europe > Norway
- Barents Sea > Loppa High > PL 609 > Block 7220/6-2R > Atla Field
- Falk Formation (0.98)
- Snadd Formation (0.98)
- Ugle Formation (0.98)
- Ørn Formation (0.98)
- Barents Sea > Loppa High > PL 609 > Block 7220/6-2R > Atla Field
- North America > United States
- Pennsylvania > Appalachian Basin
- Marcellus Field > Marcellus Shale Formation (0.98)
- Tennessee > Appalachian Basin (0.99)
- Georgia > Appalachian Basin (0.99)
- Ohio > Appalachian Basin
- Marcellus Field > Marcellus Shale Formation (0.98)
- Maryland > Appalachian Basin
- Marcellus Field > Marcellus Shale Formation (0.98)
- Alabama > Appalachian Basin (0.99)
- West Virginia > Appalachian Basin
- Marcellus Field > Marcellus Shale Formation (0.98)
- New York > Appalachian Basin
- Marcellus Field > Marcellus Shale Formation (0.98)
- Virginia > Appalachian Basin
- Marcellus Field > Marcellus Shale Formation (0.98)
- Kentucky > Appalachian Basin (0.99)
- Pennsylvania > Appalachian Basin
- Europe > Norway
- SPE Disciplines: