EQT - M&A Summary and Business Overview

Oil/gas ExplorationCompany

EQT M&A Summary

EQT has acquired 12 companies, including 4 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 9 assets.

EQT’s largest acquisition to date was in 2024, when it acquired Equitrans Midstream for $35.0B. It’s largest disclosed sale occurred in 2014, when it sold EQT Gathering Jupiter Natural Gas Gathering System to EQM Midstream Partners for $1.1B. EQT has acquired in 4 different US states. The Company’s most targeted sectors include oil/gas exploration (50%) and energy services and equipment (42%).

EQT Business Overview

Where is EQT headquartered?

EQT is headquartered in Pittsburgh, Pennsylvania.

What is EQT’s revenue?

EQT disclosed revenue of 5,070M USD for 2023 and 12,141M USD for 2022.

How many employees does EQT have?

EQT has 881 employees.

What sector is EQT in?

EQT is an oil/gas exploration company.

When was EQT founded?

EQT was founded in 1878.

M&A Summary

  • M&A Total Activity21
    • M&A Buy Activity12
    • M&A Sell Activity9
  • Total Sectors Invested 3
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 11
  • M&A Advisors 10

EQT

EQT Corp.

625 Liberty Avenue, Suite 1700,
Pittsburgh, Pennsylvania 15222
United States,
(412) 553-5700
www.eqt.com

EQT is an integrated energy company, with an emphasis on Appalachian area natural gas supply, transmission and distribution. EQT was founded in 1878 and is based in Pittsburgh, Pennsylvania.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.8/yr) # 8 1 - - 2 1 12
vol $7.3B $735M $35.0B $43.0B
Sell (0.0/yr) # 9 - - - - - 9
vol $3.9B $3.9B
  21

Most Recent M&A

Company Date Value Type
Equitrans Midstream Corp. 2024-03-11 35.0B USD Going Private
Canonsburg, Pennsylvania · www.equitransmidstream.com
Tug Hill, Inc. 2023-08-16 - Add-on Acquisition
Fort Worth, Texas · www.tughilloperating.com
XcL Mistream LLC 2023-08-16 - Add-on Acquisition
Canonsburg, Pennsylvania · www.xclmidstream.com
Chevron Corp. - Appalachia Assets 2020-10-27 735M USD Divestiture
Coraopolis, Pennsylvania
Equitrans Midstream Corp. 2018-11-13 - Spin Off
Canonsburg, Pennsylvania · www.equitransmidstream.com
Rice Energy, Inc. 2017-06-19 6.7B USD Add-on Acquisition
Canonsburg, Pennsylvania · www.riceenergy.com
Trans Energy, Inc. 2016-10-25 - Add-on Acquisition
St. Marys, West Virginia · www.transenergyinc.com
EQT Corp. - Transmission, Storage and Gathering Assets 2016-10-13 275M USD Divestiture
Pittsburgh, Pennsylvania
Statoil USA Onshore Properties - Non Core Assets 2016-05-02 407M USD Divestiture
Houston, Texas
Mountain Valley Pipeline LLC 2015-03-11 - Stake Sale
Pittsburgh, Pennsylvania · www.mountainvalleypipeline.info
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Oil/Gas Exploration 6 (50%) 36.3B (84%) 5 (56%) 2.9B (75%)
Energy Services and Equipment 5 (42%) 6.8B (16%) 2 (22%) 275M (7%)
Construction 1 (8%) - 1 (11%) -
Utilities - - 1 (11%) 720M (18%)
Total 12 $43.0B 9 $3.9B

By Geo

State/Country Buy Value Sell Value
United States 12 43.0B 9 3.9B
  Pennsylvania 8 42.5B 5 2.1B
  Texas 2 407M - -
  Massachusetts 1 77M 1 -
  West Virginia 1 - - -
  Kentucky - - 1 230M
Total 12 $43.0B 9 $3.9B

Top M&A Advisors

Financial Deals
Guggenheim Securities
1
Citigroup Investment Banking
1
Lazard Ltd.
1
Legal Deals
Baker Botts
1
Kirkland & Ellis
1
Wachtell, Lipton, Rosen & Katz
1

Deal Values

buy # Total
> $1B 2 $41.7B
$100M to $1B 3 $1.3B
< $100M 1 $77M
TOTAL $43.0B
Largest Equitrans Midstream Corp.
$35.0B (2024-03-11)
sell # Total
> $1B 2 $2.2B
$100M to $1B 4 $1.7B
TOTAL $3.9B
Largest EQT Gathering Jupiter Natural Gas Gathering System
$1.1B (2014-04-30)

M&A Connections

Deals
Acquired from
Investor(s)
17%
2 (17%)
Strategic(s)
33%
4 (33%)
Divested to
Investor(s)
11%
1 (11%)
Strategic(s)
78%
7 (78%)

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