Texas – The global law firm of Thompson & Knight LLP has assisted EQT Corporation (“EQT”) (NYSE: EQT) with the strategic acquisition of 58,000 net acres in the Marcellus Shale from a group of private operators and landowners for $280 million in cash and stock.
The acquired acreage is located primarily in Cameron, Clearfield, Elk, and Jefferson counties in Pennsylvania. The purchase, which includes a 200-mile gathering system and approximately 100 producing vertical wells, will bring the company’s total holdings in the Marcellus Shale to 500,000 net acres.
Partners Debra J. Villarreal and Arthur J. Wright led Thompson & Knight’s team of attorneys advising on this transaction, which included Partners Jolisa Melton Dobbs and William R. Wright; Of Counsel Ron W. Fry; and Associates Monique R. Alexander, Toni Nicole Brown, Jesse N. Bomer, Ashleigh Everett, Joe F. Flack III, Susan M. Marx, and Emily S. Tubb.
EQT is an integrated energy company that focuses on natural gas production, gathering, processing, transmission, and distribution. Operating in four states, EQT is the largest natural gas producer in the Appalachian Basin as well as one of the largest in the U.S.