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Equinor acquires EQT's Marcellus stake, boosting U.S. gas production

Economy Materials 30 October 2024 00:48 (UTC +04:00)
Equinor acquires EQT's Marcellus stake, boosting U.S. gas production
Maryana Ahmadova
Maryana Ahmadova
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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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