EQT Clear to Close Acquisition of Tug Hill and XcL Midstream

PITTSBURGH, Aug. 16, 2023 /PRNewswire/ -- EQT Corporation (NYSE:EQT) ("EQT" or the "Company") today announced that the U.S. Federal Trade Commission (the "FTC") has resolved its review of EQT's agreement with THQ Appalachia I, LLC ("Tug Hill") and THQ-XcL Holdings I, LLC ("XcL Midstream") to acquire Tug Hill's upstream assets and XcL Midstream's gathering and processing assets pursuant to an Agreement Containing Consent Order entered into among the parties to the transactions and the FTC effective as of today. Tug Hill and XcL Midstream are backed by equity commitments from funds managed by Quantum Energy Partners. The parties have now satisfied the condition relating to the Hart-Scott-Rodino Act of 1976, as amended and the rules and regulations promulgated thereunder, required to close the transaction.