EQT is making another acquisition, and it's huge.
EQT is paying $2.9 billion for Alta Resources natural gas wells, leases, and pipelines in northeast Pennsylvania.
The deal is expected to close in the third quarter.
In a release, EQT President and CEO Toby Rice said "The acquisition of Alta's assets represents an attractive entry into the Northeast Marcellus while accelerating our deleveraging path, providing attractive free cash flow per share accretion for our shareholders and adding highly economic inventory to EQT's already robust portfolio.
This is EQT's biggest deal. Last fall it spent $735 million for Chevron's assets.
Wednesday night, EQT reported a first quarter loss of $41 million, or 15 cents per share.
