EQT announced earlier this week that it had reached a $407 million agreement with Statoil to buy the rights to develop 62,500 acres in West Virginia and to current production of 50 MMcfe per day. The transaction will be funded by a common stock offering of 9,500,000 shares and is expected to close in early July 2016. Sources: EQT Press Release (Statoil Transaction); EQT Press Release (Stock Offering)
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