Acquisitions & Divestitures

Pittsburgh, Pa.-based EQT Corp. (NYSE: EQT) plans to acquire approximately 58,000 net acres in the Marcellus shale in Pennsylvania from a group of private operators and landowners for approximately $280 million in stock and cash.

EQT will pay 10% in cash and the remainder in stock.

The acreage is primarily in Cameron, Clearfield, Elk and Jefferson counties. The purchase includes a 200-mile gathering system and approximately 100 producing vertical wells. Pro forma, EQT will hold more than 500,000 net acres in the Marcellus fairway.

EQT chairman and chief executive Murry ...