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US Gas Firm EQT Nears Deal to Buy Appalachia Producer, Midstream Assets

  • Potential transaction would be valued at about $5.2 billion
  • EQT in talks to buy gas producer THQ as well as XcL Midstream
Updated on

EQT Corp., the largest US natural gas producer, is in advanced talks to acquire THQ Appalachia I LLC to expand in the Marcellus shale, according to people with knowledge of the matter.

THQ Appalachia, backed by Tug Hill Operating and Quantum Energy Partners, and some midstream assets would be valued in the deal at about $5.2 billion, the people said, asking not to be identified discussing private information. The transaction will include Tug Hill’s XcL Midstream, a pipeline firm that moves gas in Appalachia to market.