With just two weeks before shareholders vote on the $8 billion acquisition of Rice Energy Inc., EQT Corp.’s management team Thursday continued to plug the merger’s benefits and what it could mean for the future of the company.
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EQT Fast-Tracks Plans to Unlock Shareholder Value Ahead of Rice Acquisition
EQT Corp. is accelerating a plan to address shareholder concerns that the stock is trading at a discount to overall value, announcing that a board committee would make recommendations by the end of March.
Rice Energy Readying for EQT Acquisition With Bolt-Ons, Divestitures
Rice Energy Inc. is tying up loose ends ahead of a merger with EQT Corp. that’s expected to close in the fourth quarter, announcing Thursday that it recently added nearly 20,000 net acres to its core in the Appalachian Basin and sold the Barnett Shale assets it obtained in thebroader acquisition of Vantage Energy Inc. subsidiaries last year.
EQT Suspends Deep Utica Tests to Focus on Marcellus
EQT Corp. said Thursday it has suspended its deep Utica Shale test program in favor of the Marcellus Shale, as it prepares to bolt-on more acreage in southwest Pennsylvania in a deal toacquire Rice Energy Inc. that’s on track to close by year’s end.
Rice Energy Acquires Lola Energy Assets in ‘Confidential Sale’
A subsidiary of Rice Energy Inc. has purchased all of the assets held by upstart Lola Energy LLC in a series of transactions that were finalized this month, according to deed transfers and assignments of interest filed in three northern West Virginia counties and another in southwest Pennsylvania.
‘Incumbents,’ PE Deals Dominating Appalachian NatGas Consolidation
After years of relative inactivity, dealmaking in the Appalachian Basin is once again healthy but tenuous, as the region’s larger natural gas producers and private equity (PE) firms reassert their dominance in a market filled with both opportunities and risks.
EQT’s $8 Billion Buyout of Rice Energy Would Create Largest U.S. NatGas Producer
EQT Corp. has agreed to buy out Appalachian competitor Rice Energy Inc., an estimated $8 billion transaction that would create the largest natural gas producer in the country.
Rice Energy Targeting More Than 2 Bcfe/d Production by 2019
Rice Energy Inc. on Thursday unveiled a three-year growth plan that calls for the company to produce up to 2.2 Bcfe/d by 2019.
Rice Energy Continues Marcellus/Utica Bolt-Ons Following Vantage Acquisition
Rice Energy Inc. added 100,000 net dry gas acres to its Appalachian core last year, expanding its position and significantly boosting production ahead of big plans for 2017 that would set it up for even more growth in the coming years.
Briefs — Rice Energy
Rice Energy Inc. said a fire at its Papa Bear well pad in Washington County, PA, over the holiday weekend damaged six completion pumps. The equipment fire was reported at 4 p.m. EST on Sunday and was extinguished by 5:34 p.m., Rice said. There were no injuries. The fire damaged six of 20 pumps at the pad in Somerset Township, but no other equipment was damaged. Rice said equipment failure was to blame, adding that there was no explosion and stressing that it was not a well control incident. The company is currently working with regulators to determine the exact cause. Rice also met with area residents to address the incident.