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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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31 October 2016

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

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.

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
    • Upsides
    • Downsides
    • EQT Corporation
    • Trans Energy / Republic Energy
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 8 images and tables including:

  • Executive summary: Table 1
  • EQT's Marcellus acquisition
  • 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

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

    PDF 575.59 KB

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