EQT nears $4B deal to acquire THQ Appalachia - Reuters

Sep. 05, 2022 8:47 PM ETEQT Corporation (EQT)By: Carl Surran, SA News Editor14 Comments

Natural gas flame

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EQT Corp. (NYSE:EQT) is in advanced talks to buy natural gas producer THQ Appalachia I LLC and associated pipeline infrastructure for ~$4B including debt, in a deal that could be announced as soon as this week, Reuters reported Monday.

THQ Appalachia, which is owned by privately held gas producer Tug Hill Operating and investment firm Quantum Energy Partners, operates in West Virginia with net production of ~760M cf/day.

The deal would include XcL Midstream, a pipeline operator that moves THQ Appalachia's gas to market and is led by Tug Hill CEO Michael Radler, according to the report.

EQT (EQT) is poised to benefit from Europe's energy crisis with 30%-plus upside potential, Leo Nelissen writes in a bullish analysis published recently on Seeking Alpha.

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