M&A Deal Summary

EQT Acquires Statoil USA Onshore Properties - Non Core Assets

On May 2, 2016, EQT acquired oil/gas exploration company Statoil USA Onshore Properties - Non Core Assets from Statoil USA Onshore Properties for 407M USD

Acquisition Highlights
  • This is EQT’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is EQT’s 4th largest (disclosed) transaction.
  • This is EQT’s 6th transaction in the United States.
  • This is EQT’s 1st transaction in Texas.

M&A Deal Summary
Date 2016-05-02
Target Statoil USA Onshore Properties - Non Core Assets
Sector Oil/Gas Exploration
Buyer(s) EQT
Sellers(s) Statoil USA Onshore Properties
Deal Type Divestiture
Deal Value 407M USD

Target

Statoil USA Onshore Properties - Non Core Assets

Houston, Texas, United States
Statoil USA Onshore Properties - Non Core Assets include 62,500 net acres that it operates in the state of West Virginia, 31 Marcellus wells, 24 of which are currently producing. Statoil owns about 665,500 total acres in the Marcellus, the largest US gas field by volume. The Marcellus and Utica shales, located in the Appalachian region of the US, have provided 85pc of the country's shale gas production growth since the start of 2012, according to the US Energy Information Administration

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Buyer(S) 1

Buyer

EQT

Pittsburgh, Pennsylvania, United States

website

Category Company
Founded 1878
Sector Oil/Gas Exploration
Employees744
Revenue 12.1B USD (2022)
DESCRIPTION
Entrance to EQT's corporate headquarters in downtown Pittsburgh, Pennsylvania.
Entrance to EQT's corporate headquarters in downtown Pittsburgh, Pennsylvania.

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

DEAL STATS #
Overall 6 of 10
Sector (Oil/Gas Exploration) 2 of 4
Type (Divestiture) 3 of 4
State (Texas) 1 of 1
Country (United States) 6 of 10
Year (2016) 1 of 2
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-11 Mountain Valley Pipeline

Pittsburgh, Pennsylvania, United States

Mountain Valley Pipeline LLC is a proposal to build a pipeline to bring natural gas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-13 EQT - Transmission Storage and Gathering Assets

Pittsburgh, Pennsylvania, United States

EQT Corp. - Transmission, Storage and Gathering Assets is a provider of energy services for oil and gas industry in US.

Sell $275M

Seller(S) 1

SELLER

Statoil USA Onshore Properties

Houston, Texas, United States
Category Company
Founded 2008
Sector Oil/Gas Exploration
DESCRIPTION

Statoil USA Onshore Properties, Inc. provides oil and gas exploration services.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Grenadier Energy Partners

Woodlands, Texas, United States

Grenadier Energy Partners LLC is an upstream exploration and production company in the energy sector.

Buy $590M
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