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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
Source Documents:
   Source Link
   Source Link
   Source Link
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Location
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

 


Northeast Deal Activity In Last 12 Months



Other Northeast Region's Deals



Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jan-24-2020 - - Click here Pennsylvania  E&P
Dec-19-2019 - - Click here Ohio  E&P
Oct-21-2019 - - Click here Pennsylvania  E&P
Jul-19-2019 - - Click here Pennsylvania  E&P
Jul-19-2019 - - Click here Pennsylvania  E&P

Price History



Date Deal Headline Price$/acre
Aug-12-2020 Southwestern to Acquire Montage Resources in All-Stock Deal $857.00  Million 2,632
Jul-08-2020 Harvest Oil & Gas Selling Entire Appalachian Asset Portfolio $20.50  Million 27
May-04-2020 National Fuel/Seneca Resources To Acquire Shell's Appalachia Assets For $541 Million $541.00  Million 1,340

Other Rice Energy Deals



Announced DateBuyerSellerDeal Value($mm)LocationCategory
Sep-26-2016 - - Click here Texas  E&P
Jul-07-2014 - - Click here Pennsylvania  E&P
Feb-10-2010 - - Click here Pennsylvania  E&P

Other EQT Corp Deals



Announced DateBuyerSellerDeal Value($mm)LocationCategory
May-14-2020 - - Click here Pennsylvania  E&P
Jun-14-2018 - - Click here Kentucky  E&P
Apr-26-2018 - - Click here Texas  E&P
Jul-12-2017 - - Click here Ohio  E&P
Feb-09-2017 - - Click here West Virginia  E&P