EQT Finally Completes Acquisition of Tug Hill and XcL Midstream
Nearly one year after EQT announced a deal to buy privately-owned Tug Hill Operating’s West Virginia shale assets for roughly $5.2 billion (see Confirmed: EQT Buys Tug Hill’s THQ Appalachia for $5.2 Billion), the deal is finally done. EQT announced yesterday it had closed on the purchase (revised price ~$4.6 billion), adding roughly 90,000 acres and 800 million cubic feet per day (MMcf/d) of production in West Virginia to EQT's existing (massive) portfolio. EQT also scores an extra 145 miles of natgas gathering pipelines.
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