EQT Closes on Trans Energy Deal; Investment Bank Makes Big Boasts

In October EQT announced a deal to buy Trans Energy, Inc., a public pure-play driller in the Marcellus in West Virginia, which will become a wholly-owned subsidiary of EQT (see EQT Buys Trans Energy + 60K Marc/Utica Acres in 2 Deals for $683M). EQT is also buying Trans Energy joint venture partner Republic Energy’s share in their Marcellus jv. The land is located in Marion, Wetzel and Marshall counties (in WV). The deal has now closed and investment bank Gordian Group is strutting around making some big boasts about their role in the deal. Gordian, via a press release issued yesterday, takes credit for keeping Trans Energy out of bankruptcy court and for soaking EQT on the purchase price. Here’s Gordian’s expert piece of self puffery….

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