EQT Corporation completed its acquisition of the upstream and midstream assets of Olympus Energy. This acquisition was for a total consideration of $1.8 billion, comprising approximately 26 million shares of EQT common stock and $500 million in cash. The acquired assets include a contiguous 90,000 net acre position in Southwest Pennsylvania with net production of approximately 500 MMcf/d.
The completion of this accretive bolt-on acquisition strengthens EQT's core asset base and adds high-quality Marcellus and Utica inventory. It is expected to generate an average annual unlevered free cash flow of approximately $270 million over the next three years. This strategic move enhances EQT's long-term production capabilities and financial performance.
EQT consequently raised its projected sales volume for 2025 by 100 Bcfe, reflecting the immediate positive impact of the acquired production. This successful integration of Olympus Energy assets further solidifies EQT's position as a leading natural gas producer in the Appalachian Basin.
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