EQT, Diversified Settle WV Class Action Lawsuit re Old Wells

In August, MDN brought you up to speed on a lawsuit filed by several West Virginia landowners (turned into a class action) against Diversified Energy and EQT over EQT's sale of 11,350 conventional wells and 2.5 million acres of leases spread across several states, including West Virginia (see WV Landowner Lawsuit Against EQT, Diversified re Old Wells Continues). The lawsuit claimed EQT had sold the wells and assets as a way of shirking its responsibility to plug old abandoned (no longer producing) wells, and that Diversified would not and could not live up to its responsibility to plug those wells. We have breaking news: Diversified and EQT have negotiated a settlement with the landowners with a proposed payout of up to $6.5 million.

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