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EQT Corp. has closed a $1.25 billion divestiture of non-operated assets in northeastern Pennsylvania to Equinor USA Onshore Properties Inc. and Equinor Natural Gas LLC.
EQT said the proceeds of the sale were used to repay outstanding borrowings under its revolving credit facility to its acquisition of Equitrans Midstream Corp.
The deal represents approximately 350 MMcf/d of forecasted 2025 net production, EQT said when the deal was announced in late October.
The transaction was the second between the two companies in 2024. In April, the two companies agreed to a large-scale acreage swap in the Appalachian Basin.
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