EQT Corporation announced the closing of the sale of its remaining non-operated natural gas assets in Northeast Pennsylvania to Equinor USA Onshore Properties Inc. and its affiliates. EQT received approximately $1.25 billion in cash proceeds, less closing adjustments, from this divestiture. This transaction was a strategic move to streamline EQT's asset portfolio.
The cash proceeds from this sale were used to repay outstanding borrowings under EQT's revolving credit facility. This transaction further contributes to EQT's strategic deleveraging efforts and portfolio optimization. It allows the company to focus on its core, operated assets in the Appalachian Basin.
The divestiture is part of EQT's broader strategy to enhance financial flexibility and improve capital efficiency. By divesting non-core assets, EQT can reallocate resources to higher-return opportunities within its integrated natural gas business.
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