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EQT Corporation acquires 42,600 net acres in the Marcellus from Trans Energy and Republic Energy for US$513 million

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Report summary

EQT Corporation continues the expansion of its core Marcellus position picking up 42 600 net acres from Trans Energy and Republic Energy for US$513 million. The price equates to US$16 000/acre after adjusting for 42 MMcfe/d of flowing production using an assumed US$12 000 per flowing Mboe/d. The acquired position falls in the heart of EQT's core development area where it is aggressively ramping up production. We arrived at well level breakevens of US$2.66/Mcf and US$2.24/Mcf for WV Dry Gas and WV Rich Gas horizontal wells respectively. EQT has been vocal about its intent to expand in its core Marcellus position and has now acquired a total of 143 000 net acres so far this year. Concurrent with this deal EQT also announced the acquisition of 17 000 net Marcellus acres from a third party for US$170 million.

What's included

This report contains

  • Document

    EQT Corporation acquires 42,600 net acres in the Marcellus from Trans Energy and Republic Energy for US$513 million

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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 8 images and tables including:

Images

  • EQT's Marcellus acquisition

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

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