Posted 3/11/2024, 1:35:23 PM
EQT to Reacquire Equitrans Midstream in $5.5B Deal to Gain Control of Mountain Valley Pipeline Project
- EQT Corp. agreed to buy back former unit Equitrans Midstream for $5.5 billion in stock
- The deal gives EQT control of the controversial Mountain Valley Pipeline project
- The pipeline is set to be completed in Q2 2023 and transport gas from the Marcellus shale basin
- The merger aims to cut EQT's break-even free cash flow point and reduce the need for hedging
- The deal adds to recent transactions between midstream companies in North America
