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EQT Acquires Rice Energy in $8.2B Cash / Stock Deal
Announced Date
June 19,2017
Deal Value $
8,200,000,000
Net Acres
421,000
Location Count
861
Transaction Type
Corporate
Buyer
Seller
Location
Multiples
Region
Northeast
Country
United States
State
Pennsylvania
County
Washington ,Greene
Play
Production & Reserves Production
1,300 Mmcfe/d
Production Mix
95 % Gas
Reserves
4,005 Bcfe (1P)
Multiples
Production ($/Mcfe/d)
6,308
$Price/Net Acre
19,477
$Price/Adj. Net Acre
13,302
$1P
Mcf
2
$/Location
9,020,519
Adj. $/acre is based on production
@2,000 Mcfe/d
Transaction Details:
EQT has agreed to acquire Rice Energy in a deal worth $6.7 billion in cash and stock and the assumption of $1.5 billion in debt. This deal closed on November 13, 2017.
The deal will bolster EQT's Appalachian acreage by 421,000 net acres and add ~1.3 Bcfe/d in production.
EQT will also obtain Rice's midstream assets, including a 92% interest in Rice Midstream GP Holdings LP. According to Rice May 2017 Presentation, the company has 187, 000 net acres in the SW PA with 861 net locations
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