PITTSBURGH, Aug. 16, 2023 /PRNewswire/ — EQT Company (NYSE: EQT) (“EQT” or the “Firm”) at the moment introduced that the U.S. Federal Commerce Fee (the “FTC”) has resolved its evaluate of EQT’s settlement with THQ Appalachia I, LLC (“Tug Hill”) and THQ-XcL Holdings I, LLC (“XcL Midstream”) to accumulate Tug Hill’s upstream belongings and XcL Midstream’s gathering and processing belongings pursuant to an Settlement Containing Consent Order entered into among the many events to the transactions and the FTC efficient as of at the moment. Tug Hill and XcL Midstream are backed by fairness commitments from funds managed by Quantum Vitality Companions. The events have now happy the situation referring to the Hart-Scott-Rodino Act of 1976, as amended and the foundations and rules promulgated thereunder, required to shut the transaction.
President and CEO Toby Z. Rice said, “We’re happy the FTC has accomplished its evaluate and we are actually capable of convey the acquisition of Tug Hill and XcL Midstream to an in depth. This acquisition will decrease EQT’s price construction, scale back EQT’s improvement danger, and improve money circulate and web asset worth per share, whereas sustaining our funding grade steadiness sheet. It should additionally enable us to proceed our progress in making the vitality we produce extra inexpensive, dependable, and cleaner.”
EQT expects to shut the transaction throughout the subsequent seven enterprise days.
Managing Director, Investor Relations & Technique
Director of Communications
About EQT Company
EQT Company is a number one impartial pure gasoline manufacturing firm with operations centered within the cores of the Marcellus and Utica Shales within the Appalachian Basin. We’re devoted to responsibly creating our world-class asset base and being the operator of alternative for our stakeholders. By leveraging a tradition that prioritizes operational effectivity, know-how and sustainability, we search to repeatedly enhance the best way we produce environmentally accountable, dependable and low-cost vitality. We have now a longstanding dedication to the protection of our workers, contractors, and communities, and to the discount of our general environmental footprint. Our values are evident in the best way we function and in how we work together every day – belief, teamwork, coronary heart, and evolution are on the middle of all we do. Study extra at eqt.com.
This information launch accommodates sure forward-looking statements throughout the that means of Part 21E of the Securities Change Act of 1934, as amended, and Part 27A of the Securities Act of 1933, as amended. Statements that don’t relate strictly to historic or present information are forward-looking. With out limiting the generality of the foregoing, forward-looking statements contained on this information launch particularly embrace statements relating to the Firm’s plans, expectations, targets, projections referring to the pending transaction involving the Firm and Tug Hill and XcL Midstream (the “Acquisition”), together with statements referring to the advantages or synergies therefrom and statements relating to the projected impacts on the Firm’s price construction, money circulate, web asset worth per share and steadiness sheet; the Firm’s plans, targets, methods, expectations and intentions with respect to the belongings to be acquired in such pending Acquisition, together with the timing of integration of such belongings; and the anticipated timing of closing the Acquisition.
The forward-looking statements included on this information launch contain dangers and uncertainties that would trigger precise outcomes to vary materially from projected outcomes. Accordingly, traders mustn’t place undue reliance on forward-looking statements as a prediction of precise outcomes. The Firm has based mostly these forward-looking statements on present expectations and assumptions about future occasions, making an allowance for all info at present recognized by the Firm. Whereas the Firm considers these expectations and assumptions to be affordable, they’re inherently topic to important enterprise, financial, aggressive, regulatory and different dangers and uncertainties, a lot of that are troublesome to foretell and past the Firm’s management. These dangers and uncertainties embrace, however aren’t restricted to, volatility of commodity costs; the prices and outcomes of drilling and operations; uncertainties about estimates of reserves, identification of drilling areas and the power so as to add proved reserves sooner or later; the assumptions underlying manufacturing forecasts; the standard of technical knowledge; the Firm’s potential to appropriately allocate capital and different assets amongst its strategic alternatives; entry to and price of capital, together with on account of rising rates of interest and different financial uncertainties; the Firm’s hedging and different monetary contracts; inherent hazards and dangers usually incidental to drilling for, producing, transporting and storing pure gasoline, pure gasoline liquids (NGLs) and oil; cyber safety dangers and acts of sabotage; availability and price of drilling rigs, completion companies, tools, provides, personnel, oilfield companies and sand and water required to execute the Firm’s exploration and improvement plans, together with on account of inflationary pressures; dangers related to working primarily within the Appalachian Basin and acquiring a considerable quantity of the Firm’s midstream companies from Equitrans Midstream Company; the power to acquire environmental and different permits and the timing thereof; authorities regulation or motion, together with rules pertaining to methane and different greenhouse gasoline emissions; destructive public notion of the fossil fuels trade; elevated shopper demand for options to pure gasoline; environmental and climate dangers, together with the potential impacts of local weather change; and disruptions to the Firm’s enterprise because of acquisitions and different important transactions, together with the pending Acquisition. These and different dangers are described below Merchandise 1A, “Danger Elements,” and elsewhere within the Firm’s Annual Report on Type 10-Ok for the yr ended December 31, 2022 and different paperwork the Firm information infrequently with the Securities and Change Fee. As well as, the Firm could also be topic to at present unexpected dangers that will have a materially opposed impression on it.
Any forward-looking assertion speaks solely as of the date on which such assertion is made, and, besides as required by legislation, the Firm doesn’t intend to appropriate or replace any forward-looking assertion, whether or not on account of new info, future occasions or in any other case.
SOURCE EQT Company (EQT-IR)