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published by
Aimee Knight,
Editorial assistant
Global pipelines,
Friday October 30, 2020 4:00 PM
EQT Corporation has announced that it has entered into a definitive purchase and sale agreement with Chevron USUNE Inc under which EQT will acquire the upstream and downstream assets of Chevron located in the Appalachian Basin for US $ 735 million, subject to customary closing adjustments
President and CEO Toby Rice said: “This acquisition is a natural extension of EQT’s dominant position in the heart of Southwest Marcellus and complements our already impressive asset base With the purchase price underpinned by the value of the PDP, the extensive inventory of work-in-progress wells, base undeveloped areas and hydraulic assets provide upward material value Our unique knowledge of these assets, coupled with our superior operating model, puts these assets in good hands to maximize intrinsic value «
Rice continued, « The digital workplace and business processes we have created will allow for the seamless integration of these assets into our existing portfolio, while the favorable financial impacts will benefit both shareholders and holders. debt This transaction represents another strategic step taken by this team to create value for all stakeholders, while improving the sustainability and sustainability of our company. »
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EQT, Chevron Corporation, Finance, Asset
News from around the world – UK – EQT announces the acquisition of the assets of Chevron’s Appalachia
SOURCE: https://www.w24news.com
