EQT Sells Gas Utility for $720M, Proceeds for Marcellus

EQT Corporation announced today it’s selling its Equitable Gas Company (natural gas utility) to Peoples Natural Gas for $720 million in cash and “certain assets.” Those assets include picking up 200 miles of Marcellus Shale gas transmission pipelines in Pennsylvania as well as four storage pools. According to the press announcement, EQT plans to plow the proceeds back into more drilling and midstream operations in the Marcellus.

Today’s announcement from EQT:

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