EQT Corporation (NYSE:EQT)  and its subsidiaries have successfully finalized the acquisition of key upstream assets from THQ Appalachia, and gathering and processing assets from THQ-XcL Holdings.

The comprehensive deal, completed through the acquisition of all issued and outstanding membership interests of THQ Appalachia, and THQ-XcL Holdings, was structured under the terms of the Amended and Restated Purchase Agreement dated December 23, 2022.

The transaction involved a substantial purchase price comprising 49,599,796 shares of EQT Corporation common stock and approximately $2.4 billion in cash.

To fund the cash portion of this acquisition, EQT utilized $1.25 billion from its term loan facility, $1 billion from its available cash reserves and an additional $150 million previously placed in escrow specifically for this acquisition.