EQT To Acquire All Membership Interests In Alta's Upstream And Midstream Subsidiaries

(RTTNews) - EQT Corp. (EQT) has entered into a purchase agreement with Alta Resources Development, LLC, pursuant to which EQT will acquire all of the membership interests in Alta's upstream and midstream subsidiaries for approximately $2.925 billion. The total purchase price consist of $1.0 billion in cash and approximately $1.925 billion in EQT common stock issued directly to Alta's shareholders. The stock consideration consists of approximately 105 million shares of EQT common stock representing $1.925 billion.

President and CEO Toby Rice said, "The acquisition of Alta's assets represents an attractive entry into the Northeast Marcellus while accelerating our deleveraging path, providing attractive free cash flow per share accretion for our shareholders and adding highly economic inventory to EQT's already robust portfolio."