Skip to content

EQT Corporation Announces Strategic $5.2 Billion Acquisition

EQT Announces Strategic Bolt-On Acquisition and Doubles Share Repurchase Program to $2 Billion Background Image

Vinson & Elkins advised THQ Appalachia I, LLC (“Tug Hill”) and THQ-XcL Holdings I, LLC (“XcL Midstream”) in a purchase agreement with EQT Corporation (“EQT”) whereby EQT has agreed to acquire Tug Hill’s upstream assets and XcL Midstream’s gathering and processing assets, for total consideration of $5.2 billion.

Tug Hill and XcL Midstream are backed by equity commitments from funds managed by Quantum Energy Partners. The transaction is expected to close in the fourth quarter of 2022, with an effective date of July 1, 2022.

The V&E corporate team was led by partners John B. Connally and Robert Hughes, counsel Tan Lu and senior associate Jackson O’Maley.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting or connect with us on LinkedIn.

For more information, please speak with our media contacts.