EQT Corporation Announces Strategic $5.2 Billion Acquisition
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.
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