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EQT Closes $740 Million Sale Of Gas Utilities

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Business Wire
December 19, 2013

EQT Corp. (NYSE: EQT) announced Dec. 17 that it completed the transfer of its natural gas distribution business, Equitable Gas Co. LLC, to Peoples Natural Gas for $740 million in cash.

In addition to the cash price, EQT will receive some Marcellus midstream assets and some commercial contracts that are expected to generate at least $40 million EBITDA (earnings before interest, taxes, depreciation and amortization).The newly acquired Marcellus midstream assets include some 200 miles of transmission pipelines and four storage pools. The long-term commercial contracts for EQT to provide gas ...


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