M&A Deal Summary

EQT Acquires Equitrans Midstream

On March 11, 2024, EQT acquired oil/gas exploration company Equitrans Midstream for 35.0B USD

Acquisition Highlights
  • This is EQT’s 6th transaction in the Oil/Gas Exploration sector.
  • This is EQT’s largest (disclosed) transaction.
  • This is EQT’s 12th transaction in the United States.
  • This is EQT’s 8th transaction in Pennsylvania.

M&A Deal Summary
Date 2024-03-11
Target Equitrans Midstream
Sector Oil/Gas Exploration
Buyer(s) EQT
Deal Type Going Private
Deal Value 35.0B USD
Advisor(s) Barclays Investment Bank
Citigroup Investment Banking (Financial)
Latham & Watkins (Legal)

Target

Equitrans Midstream

Canonsburg, Pennsylvania, United States
Equitrans Midstream is a natural gas midstream operator in the Marcellus & Utica shale. Equitrans Midstream was founded in 2018 and is based in Canonsburg, Pennsylvania.

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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 12 of 12
Sector (Oil/Gas Exploration) 6 of 6
Type (Going Private) 1 of 1
State (Pennsylvania) 8 of 8
Country (United States) 12 of 12
Year (2024) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-16 Tug Hill

Fort Worth, Texas, United States

Tug Hill is an oil and gas operating company focused on the acquisition, development and exploitation of unconventional gas and liquids-rich assets in the Appalachian Basin, with an emphasis on the Marcellus and Utica/Point Pleasant formations in West Virginia and Southwest Pennsylvania. Tug Hill was founded in 2007 and is based in Fort Worth, Texas with offices in Canonsburg, PA and Boulder, CO.

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