M&A Deal Summary

EQT Acquires Chesapeake Marcellus Acreage and Wells

On May 3, 2013, EQT acquired oil/gas exploration company Chesapeake Marcellus Acreage and Wells from Chesapeake Energy for 113M USD

Acquisition Highlights
  • This is EQT’s 1st transaction in the Oil/Gas Exploration sector.
  • This is EQT’s 5th largest (disclosed) transaction.
  • This is EQT’s 4th transaction in the United States.
  • This is EQT’s 3rd transaction in Pennsylvania.

M&A Deal Summary
Date 2013-05-03
Target Chesapeake Marcellus Acreage and Wells
Sector Oil/Gas Exploration
Buyer(s) EQT
Sellers(s) Chesapeake Energy
Deal Type Divestiture
Deal Value 113M USD

Target

Chesapeake Marcellus Acreage and Wells

Pennsylvania, United States
Chesapeake Marcellus Acreage and Wells comprises roughly 99,000 net acres in southwestern Pennsylvania and 10 horizontal Marcellus wells.

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Buyer(S) 1

Buyer

EQT

Pittsburgh, Pennsylvania, United States
Category Company
Founded 1878
Sector Oil/Gas Exploration
Employees881
Revenue 5.1B USD (2023)
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 an emphasis on Appalachian area natural gas supply, transmission and distribution. EQT was founded in 1878 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 4 of 12
Sector (Oil/Gas Exploration) 1 of 6
Type (Divestiture) 2 of 4
State (Pennsylvania) 3 of 8
Country (United States) 4 of 12
Year (2013) 1 of 1
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-04 EQT Kentucky Natural Gas Processing Complex

Kentucky, United States

EQT Kentucky Natural Gas Processing Complex includes a 100 million cubic feet per day (MMcfd) cryogenic processing plant, a 75 MMcfd refrigeration processing plant, and approximately 28,000 horsepower of compression.

Sell $230M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-15 Sunrise Pipeline

United States

Sunrise Pipeline, a 41.5 miles of 24-inch diameter FERC-regulated pipeline that parallels and interconnects with the segment of the Partnership’s transmission and storage system from Wetzel County, West Virginia to Greene County, Pennsylvania.

Sell $508M

Seller(S) 1

SELLER

Chesapeake Energy

Oklahoma City, Oklahoma, United States
Category Company
Founded 1989
Sector Oil/Gas Exploration
Employees1,000
Revenue 7.8B USD (2023)
DESCRIPTION

Chesapeake Energy produces natural gas and is a major producer of oil and natural gas liquids in the U.S., with an industry-leading portfolio of high-quality unconventional assets in top onshore plays. Chesapeake Energy was incorporated in 1989 and is based in Oklahoma City.

DEAL STATS #
Overall 4 of 9
Sector (Oil/Gas Exploration) 4 of 6
Type (Divestiture) 4 of 8
State (Pennsylvania) 1 of 1
Country (United States) 4 of 9
Year (2013) 1 of 2
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-11 Chesapeake Midstream Operating

Oklahoma City, Oklahoma, United States

Chesapeake Midstream Operating, L.L.C. consists of natural gas gathering and processing assets in the Eagle Ford, Utica and Niobrara liquids-rich plays.

Sell $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-01 Chesapeake Energy - Mississippi Lime Midstream Assets

Mississippi, United States

Chesapeake Energy - Mississippi Lime Midstream Assets consists of: Rose Valley I plant: 200 mmcfd cryogenic processing plant, expected to be operational first quarter 2014 and Rose Valley II plant: 200 mmcfd cryogenic processing plant, expected to be operational first quarter 2016.

Sell $300M
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