EQT to take top spot in US gas sector

摘要

US upstream independent EQT's $8.2bn takeover bid for rival Rice Energy will create the largest US natural gas producer by output, supplanting ExxonMobil from the top spot and underlining the dominant role of the Marcellus and Utica shale formations in US gas production. EQT will pay $6.7bn in cash and shares to acquire Rice and will take on around $1.5bn of net debt. The transaction is expected to close in the fourth quarter. The combined company will be a larger, more efficient gas producer that is aiming for 2017 output of 3.6bn ft~3/d (102mn m~3/d) from the Marcellus and Utica shales, two prolific gas-bearing formations underlying parts of Pennsylvania, West Virginia and Ohio.