EQT Corp. has agreed to pay $2.925 billion for all of the membership interests in Houston-based Alta Resources’s upstream and midstream subsidiaries.
Alta Resources is a private company specializing in the exploration for and development of shale oil and gas assets from the Fayetteville Shale in Arkansas and the Marcellus Shale in Pennsylvania to the liquids-rich Duvernay Shale play in the Kaybob area of Alberta, Can.
The transaction adds 300,000 core net Marcellus acres to EQT’s portfolio, 98 percent of which are held by production. The deal also includes 300 miles of owned and operated midstream gathering systems, as well as a 100-mile freshwater system with 255 million gallons of storage capacity.
“Today marks another major milestone for EQT as we continue on our path to becoming the operator of choice for all of our stakeholders,” said Toby Rice, president and CEO of EQT. “The acquisition of Alta's assets represents an attractive entry into the Nor
