EQT $5.2B Deal to Buy Tug Hill Extended Additional Year to Close

Last September, EQT Corporation announced it is buying privately-owned Tug Hill Operating’s West Virginia shale assets for $5.2 billion (see Confirmed: EQT Buys Tug Hill’s THQ Appalachia for $5.2 Billion). The deal adds 90,000 acres and 800 MMcf/d (million cubic feet per day) of production to EQT’s existing, massive, portfolio. But then the Bidenistas at the Federal Trade Commission (FTC) got involved, slowing down the deal (see Bidenistas at FTC Probing EQT Deal to Buy Tug Hill’s WV Assets). Because of the FTC dragging its feet, EQT and Tug Hill recently renegotiated the timeline, adding a full year.

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