EQT deals assets to Equinor

Natural gas fields in Northeast Pennsylvania

EQT is selling some non-operating assets in Pennsylvania to Equinor.

The deal includes 40% interest in its non-operated natural gas assets in Northeast Pennsylvania, representing approximately 225 MMcf/d of forecasted 2025 net production. Consideration for the transaction is comprised of US$500 million of cash and upstream and midstream assets.

The assets EQT is receiving in the transaction consist of:

  • ~26,000 net acres in Monroe County, Ohio with 2025E net production of ~135 MMcfe/d directly offsetting EQT-operated acreage
  • ~10,000 net acres in Lycoming County, Pennsylvania with 2025E net production of ~15 MMcfe/d in existing EQT-operated assets
  • The remaining 16.25% ownership in EQT-operated gathering systems servicing core operated acreage in Lycoming County, Pennsylvania
  • A gas buy-back agreement whereby Equinor will purchase gas from EQT at a premium to in-basin pricing through the first quarter of 2028
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