EQT Corporation has announced a significant move to acquire its former unit, Equitrans Midstream, in an all-stock transaction valued at approximately $5.5 billion. This strategic effort aims to create a major vertically integrated natural gas provider by reuniting EQT with its former pipeline business, which was spun out in 2018 due to investor pressure. The deal is expected to form a combined entity worth around $35 billion, enhancing EQT's position as a leading US natural gas producer. This acquisition includes the controversial Mountain Valley Pipeline, owned by Equitrans Midstream and anticipated to be completed in the second quarter. The transaction is seen as a pathway for EQT to reduce its long-term corporate free cash flow breakeven to less than $2 per MMBtu, signaling a significant step towards efficiency amid natural gas prices languishing near decade lows.
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Natural gas production heavyweight EQT Corp. is buying the big pipeline player Equitrans Midstream Corp. in a $35 billion deal. https://t.co/KodenwS00J
EQT, Equitrans to Recombine in $5B-Plus Deal to Create Integrated U.S. Natural Gas Giant https://t.co/imRRysGuhn via @NGInews #natgas #EQT #ETRN
Merger Monday: $EQT Corp., one of the largest US natural gas producers, agreed to buy back former unit $ETRN Equitrans Midstream Corp. for $5.5 billion in stock.
EQT to Buy Mountain Valley Pipeline Owner for $5.5 Billion Controversial project is due to be completed in second quarter Equitrans was spun out of EQT in 2018 after investor pressure https://t.co/IOrHnUJ6Mo
EQT is buying ETM, its former midstream subsidiary, for $5.5 billion in an all stock deal. They claim this "provides a pathway to reduce EQT's long-term corporate free cash flow breakeven to less than $2 per MMBtu" This could explain why $EQT was running so many rigs.
US natural gas producer EQT agrees to buy back its former unit Equitrans Midstream in an all-stock transaction valued at about $5.2 billion https://t.co/YVwpIKpdTb
EQT, Equitrans Midstream to merge to create $35 bln firm https://t.co/h7LzEa6coB https://t.co/lR8ZDQq04S
Monday morning scoop: EQT Corp. has struck a deal to buy back its former unit Equitrans Midstream in a bid to create a big, vertically integrated natural-gas provider. $EQT $ETRN https://t.co/lT0GZ6dK8a
EQT and Equitrans Midstream to Combine in Big Natural-Gas Deal All-stock transaction to reunite EQT with its former pipeline business https://t.co/c7yErmntco