Equinor Strengthens Gas Portfolio In US

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 30. Norway's Equinor has entered a significant $1.25 billion agreement with EQT Corporation to acquire additional non-operated interests in the Northern Marcellus shale formation in the United States, Trend reports via Equinor.

Through this transaction, Equinor will take on 100 percent of EQT's remaining working interest in Northern Marcellus gas units, which are primarily operated by Expand Energy.

This acquisition will elevate Equinor's working interest in the Northern Marcellus asset from 25.7 percent to 40.7 percent, adding approximately 80,000 barrels of oil equivalent per day (boe/d) to its US production in the near term. The move bolsters Equinor's international portfolio, enhancing cash flow through increased natural gas volumes with notably low carbon intensity emissions from production.

The acquisition, which covers the same acreage included in an earlier swap agreement with EQT, is set to take economic effect from December 31, 2024, pending closure of the deal. This partnership with EQT Corporation, a leading natural gas producer in Pennsylvania, West Virginia, and Ohio, reflects Equinor's commitment to expanding its presence in the US and strengthening its focus on energy resources with reduced emissions intensity.

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