Deal Insight
EQT acquires Chevron's Appalachian assets for US$735 million
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The largest L48 natural gas producer is becoming even larger. EQT is adding Chevron's Appalachia assets to its production base, and will produce ~4.5 Bcfe/d, all in the Appalachia region, upon close of the deal. Importantly, EQT is growing without increasing its leverage. We forecast Net debt/EBITDA and gearing ratios will change by minimal amounts, since the deal was financed by a combination of equity and senior notes offerings. EQT will pay US$735 million for the package, with US$635 attributable to the upstream assets.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1EQT and Chevron Appalachian wellsUpstream assets: Table 1
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Deal analysis: Table 1Deal analysis: Table 2Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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