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EQT Corp → Olympus energy, llc- One-Page Deal Sheet

Announced Date
April 22,2025
Effective Date
March 31,2025
Close Date
July 01,2025
Transaction Type
Asset
Enterprise Value (EV)($MM)
1800




Snapshot
Asset/Basin:
["Appalachian Basin"]
TargetZones:
["Marcellus Shale",
Net Acres
90,000
Source Documents:
   Source Link
Location
Region
Northeast - Appalachia

Country
United States

State
Pennsylvania

County
Westmoreland ,Allegany ,Washington

Play
Marcellus Shale


Production
Production
500 MMcf/d

Production Mix
100 % Gas


Calculated Metrics( EV/Category)
$/ Flowing
3,600,000

$/ Acre
20,000

$/Location
8,000,000

Production ($/Mcfe/d)
3,600

Transaction Details: 

EQT Corporation announced a transformational $1.8 billion acquisition of Olympus Energy’s upstream and midstream assets in Southwest Pennsylvania, strengthening its leadership position in the core of the Appalachian Basin.

Key Transaction Terms

  • Total Consideration: $1.8 billion

    • $1.3B in EQT stock (~26 million shares)

    • $500M in cash (to be funded via existing liquidity and revolving credit)

    • Valuation Metrics (based on April 16, 2025 strip pricing):

      • ~3.4x projected adjusted EBITDA multiple

      • ~15% projected unlevered FCF yield

This acquisition underscores EQT’s continued consolidation strategy focused on high-quality, scalable gas assets that complement its core portfolio and support shareholder value creation.

The assets comprise a vertically integrated, contiguous 90,000 net acre position offsetting the Company's existing core acreage in Southwest Pennsylvania with net production of approximately 500 MMcf/d.

Olympus Energy has over 10 years of high-quality Marcellus inventory at maintenance activity levels, with an additional 7 years of upside from the Utica the company said.

Northeast - Appalachia Deal Activity In Last 12 Months


Other Northeast - Appalachia Region's Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
May-30-2025 - - Click here Ohio  E&P
Dec-05-2024 - - Click here Pennsylvania  E&P
Jan-11-2024 - - Click here West Virginia  E&P
Sep-08-2022 - - Click here West Virginia  E&P
Sep-06-2022 - - Click here   E&P

Price History


Date Deal Headline Price$/acre
Dec-05-2024 CNX Acquires Apex’s Appalachian Gas & Midstream Assets for $505MM - -
Jan-11-2024 Chesapeake To Acquire Southwestern Energy - -
Sep-08-2022 EQT to Acquire Appalachia E&P, Midstream Assets for $5.2 Billion in Cash/Stock - -

Other EQT Corp Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Oct-29-2024 - - Click here Pennsylvania  E&P
Sep-08-2022 - - Click here West Virginia  E&P
May-06-2021 - - Click here Pennsylvania  E&P
Oct-27-2020 - - Click here Pennsylvania  E&P
May-14-2020 - - Click here Pennsylvania  E&P