Trump FTC Votes 3-0 to Keep Consent Order Against EQT & Tug Hill

Disappointingly, the Trump Federal Trade Commission (FTC) voted 3-0 to maintain a "consent order" that prevents private equity firm Quantum Energy Partners from owning stock in EQT and prohibits the CEO of Quantum from serving on EQT's Board of Directors. This is all to do with EQT's purchase of fellow driller Tug Hill in 2023. In September 2022, EQT announced a deal to buy privately owned Tug Hill Operating’s West Virginia shale assets (90,000 acres and 800 MMcf/d of production in West Virginia) for roughly $5.2 billion (see Confirmed: EQT Buys Tug Hill’s THQ Appalachia for $5.2 Billion). The deal was finally completed nearly one year later (see EQT Finally Completes Acquisition of Tug Hill and XcL Midstream).

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