Merging opens up Marcellus acreage in the northeast sector to EQT

From an Article by Reuters News Service, May 6, 2021

EQT Corp., the largest U.S. natural gas producer, said on Thursday it will buy Blackstone-backed Appalachian basin rival Alta Resources for $2.93 billion in cash and stock, making an entry in the Northeast Marcellus shale play.

Dealmaking in the oil and gas space has been heating up as crude prices have jumped on a vaccine-led recovery in travel demand. Natural gas, in particular, hit record highs earlier in February when a winter storm swept parts of the United States.

The deal, which adds around one billion cubic feet equivalent gas production to EQT’s portfolio, is expected to be accretive to free cash flow and net asset value per share, the company said.

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.

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PA Permit Violation Issued to EQT CHAP LLC in Franklin Twp, Fayette County
Description: Administrative violation issued on 5/04/2021 to EQT CHAP LLC in Franklin Twp, Fayette county. 78A122(B)_ – WELL REPORTING – WELL RECORD AND COMPLETION REPORT – The well operator failed to include all required information on the completion report to the Department on a form provided by the Department.
Incident Date/Time: 2021-05-04 00:00:00

PA Permit Violation Issued to EQT CHAP LLC in Franklin Twp, Fayette County
Description: Environmental Health & Safety violation issued on 5/04/2021 to EQT CHAP LLC in Franklin Twp, Fayette county. 79.16(B) – WELL DRILLING AND USE – DEVIATION – Well drilled intentionally to deviate from the vertical in order to intersect the producing horizon outside the area permitted by the spacing order. Failure to file a complete angular deviation and directional survey of the well upon completion of an intentionally deviated well.
Incident Date/Time: 2021-05-04 00:00:00

PA Permit Violation Issued to EQT CHAP LLC in Franklin Twp, Fayette County
Description: Administrative violation issued on 5/04/2021 to EQT CHAP LLC in Franklin Twp, Fayette county. OGA3222(B.1) – WELL REPORTING – COMPLETION REPORT – Operator failed to submit a completion report containing all necessary information.
Incident Date/Time: 2021-05-04 00:00:00

PA Permit Violation Issued to EQT CHAP LLC in Franklin Twp, Fayette County
Description: Administrative violation issued on 5/04/2021 to EQT CHAP LLC in Franklin Twp, Fayette county. 78a12 – COMPLIANCE WITH PERMITS – Person failed to comply with terms and conditions of permit or registration while drilling, altering or operating an oil or gas well.
Incident Date/Time: 2021-05-04 00:00:00

PA Permit Violation Issued to EQT CHAP LLC in Franklin Twp, Fayette County
Description: Environmental Health & Safety violation issued on 4/28/2021 to EQT CHAP LLC in Franklin Twp, Fayette county. 79.16(B) – WELL DRILLING AND USE – DEVIATION – Well drilled intentionally to deviate from the vertical in order to intersect the producing horizon outside the area permitted by the spacing order. Failure to file a complete angular deviation and directional survey of the well upon completion of an intentionally deviated well.
Incident Date/Time: 2021-04-28 00:00:00

PA Permit Violation Issued to EQT CHAP LLC in Franklin Twp, Fayette County
Description: Administrative violation issued on 4/28/2021 to EQT CHAP LLC in Franklin Twp, Fayette county. 78A122(B)_ – WELL REPORTING – WELL RECORD AND COMPLETION REPORT – The well operator failed to include all required information on the completion report to the Department on a form provided by the Department.
Incident Date/Time: 2021-04-28 00:00:00

PA Permit Violation Issued to EQT CHAP LLC in Franklin Twp, Fayette County
Description: Administrative violation issued on 4/28/2021 to EQT CHAP LLC in Franklin Twp, Fayette county. OGA3222(B.1) – WELL REPORTING – COMPLETION REPORT – Operator failed to submit a completion report containing all necessary information.
Incident Date/Time: 2021-04-28 00:00:00

PA Permit Violation Issued to EQT CHAP LLC in Franklin Twp, Fayette County
Description: Administrative violation issued on 4/28/2021 to EQT CHAP LLC in Franklin Twp, Fayette county. 78a12 – COMPLIANCE WITH PERMITS – Person failed to comply with terms and conditions of permit or registration while drilling, altering or operating an oil or gas well.
Incident Date/Time: 2021-04-28 00:00:00

PA Permit Violation Issued to EQT CHAP LLC in Franklin Twp, Fayette County
Description: Environmental Health & Safety violation issued on 4/28/2021 to EQT CHAP LLC in Franklin Twp, Fayette county. 79.16(B) – WELL DRILLING AND USE – DEVIATION – Well drilled intentionally to deviate from the vertical in order to intersect the producing horizon outside the area permitted by the spacing order. Failure to file a complete angular deviation and directional survey of the well upon completion of an intentionally deviated well.
Incident Date/Time: 2021-04-28 00:00:00