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Yesterday the Marcellus/Utica experienced a fracking earthquake of historic proportions. That is, a fracking earthquake metaphorically speaking. Yesterday Rice Energy was merged into EQT, creating the largest onshore natural gas producing company these United States. The $8.2 billion deal was first announced back in June (see EQT Buys Rice Energy in $8.2B Deal, Becomes #1 Gas Producer in US). There was plenty of drama along the way–primarily opposition to the deal by evil corporate raider Jana Partners, in collusion with Atlas Energy (see Proxy Fight: Jana Partners, Atlas Tries to Stop EQT/Rice Deal). Shame on both of them. Fortunately their effort to stop the deal didn’t gain traction.

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First, a pair of announcements yesterday about completing the merger, and adding new board members:

EQT Corporation (NYSE: EQT) today announced that it has completed its acquisition of Rice Energy Inc.

“With the closing of the transaction, we are combining two of the leading operators in the Appalachian Basin to create an even stronger company that is positioned to deliver greater returns to shareholders through operating efficiencies and improved overall well economics,” said Steve Schlotterbeck, EQT’s president and chief executive officer. “This transaction complements our production and midstream businesses and will deliver significant operational synergies to help us maintain our status as one of the lowest-cost operators in the United States. The EQT Board and management team have taken considerable steps to strengthen the Company’s platform and we look forward to identifying additional opportunities to maximize value for all EQT shareholders.”

In conjunction with the closing, and as previously announced under the terms of the merger agreement, two former Rice directors, Daniel J. Rice IV and Robert F. Vagt, have joined the EQT Board, effective immediately.

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