Stop Press: Sources Say EQT Trying to Take Over CNX Resources

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Bloomberg is reporting insider sources say EQT, already the biggest natural gas producer in the country (and pureplay driller in the Marcellus/Utica), has sent a takeover proposal to CNX Resources, another major Marcellus/Utica driller. Friendly? Hostile? Who knows. In September inside sources told Reuters that EQT had made a bid on Chevron’s extensive M-U acreage (see Sources: EQT Offering $750M for Chevron’s Marcellus/Utica Assets). Would/could EQT actually end up buying both? Seems like a stretch.

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