EQT Corp 8-K, filed May 31, 2024
EQT Corp (EQT)
About this 8-K
EQT Corp filed this 8-K on May 31, 2024.
Items reported
- Item 8.01: Other events
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SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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| Item 8.01. | Other Events. |
As previously disclosed, on April 12, 2024, certain subsidiaries (the “EQT Parties”) of EQT Corporation (together with its consolidated subsidiaries, “EQT”) entered into a purchase, sale and exchange agreement (the “Equinor Agreement”) with Equinor USA Onshore Properties Inc. and its affiliates (collectively, the “Equinor Parties”) pursuant to which (a) the EQT Parties agreed to sell an undivided 40% interest in EQT’s non-operated natural gas assets in Northeast Pennsylvania to the Equinor Parties and, in exchange, to receive from the Equinor Parties (i) $500 million of cash (subject to customary purchase price adjustments), (ii) approximately 26,000 net acres in Monroe County, Ohio directly offsetting EQT-operated acreage, (iii) approximately 10,000 net acres predominantly in Lycoming County, Pennsylvania under EQT-operated wells and acreage, and (iv) the remaining 16.25% ownership interest in EQT-operated gathering systems servicing core EQT-operated acreage in Lycoming County, Pennsylvania and (b) the EQT Parties and the Equinor Parties agreed to enter into at closing a gas buy-back agreement with respect to the assets received by the EQT Parties in the transaction, whereby the Equinor Parties would purchase a specified amount of natural gas from EQT at a premium to in-basin pricing through the first quarter of 2028 (collectively, the “Equinor Transaction”).
On May 31, 2024, the EQT Parties and the Equinor Parties closed the Equinor Transaction.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EQT CORPORATION | ||
| Date: May 31, 2024 | By: | /s/ William E. Jordan |
| Name: | William E. Jordan | |
| Title: | Executive Vice President, General Counsel and Corporate Secretary | |