Equinor Acquires EQT's Marcellus Stake, Boosting U.S. Gas Production
Date
10/29/2024 7:17:38 PM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 30. Equinor has
agreed to acquire 100% of EQT's remaining interest in the Northern
Marcellus gas units, primarily operated by Expand Energy, Trend reports.
According to the producer, this Acquisition boosts Equinor's
cash flow by adding low-emission Natural gas volumes to its
international portfolio.
Effective from December 31, 2024, the deal covers the same
acreage as an earlier swap agreement with EQT. With this
acquisition, Equinor's stake in Northern Marcellus rises from 25.7%
to 40.7%, adding approximately 80,000 barrels of oil equivalent per
day to its U.S. production.
"This strengthens our portfolio by increasing gas volumes in a
core market with low break-even and low-emission production," said
Philippe Mathieu, Equinor's EVP for Exploration and Production
International.
Equinor's U.S. operations have generated over $5.5 billion in
adjusted income since 2021, highlighting its robust position in the
onshore and offshore energy sectors. Final transaction approval
remains subject to regulatory review.
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