EQT completes acquisition of Equitrans Midstream; projects $425M+ annual synergies

EQT Corp

Acquisition closed July 22, 2024; Equitrans shareholders received 0.3504 EQT shares per share.
EQT identified more than $425 million of annual synergies from the combination.
Unlevered NYMEX free cash flow breakeven price projected at ~$2.00/MMBtu, low end of cost curve.
EQT borrowed $1.65B under prior credit agreement to fund Equitrans preferred share redemption and debt repayment.
Revolving credit facility increased to $3.5B (from $2.5B) and extended maturity to July 2029.

item 1.01 item 2.01 item 2.03 item 5.02 item 5.03 item 7.01 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Thomas F. Karam

Director

EQT · EQT Corp

Effective: 2024-07-22
Filed: July 22, 2024, 7:59 PM ET

the board of directors of EQT (the “Board”) increased the size of the Board by three members and appointed Vicky A. Bailey, Thomas F. Karam and Robert F. Vagt (collectively, the “Equitrans Designees”), each of whom was a member of the board of directors of Equitrans prior to the Effective Time, to the Board.

Appointed

Vicky A. Bailey

Director

EQT · EQT Corp

Effective: 2024-07-22
Filed: July 22, 2024, 7:59 PM ET

the board of directors of EQT (the “Board”) increased the size of the Board by three members and appointed Vicky A. Bailey, Thomas F. Karam and Robert F. Vagt (collectively, the “Equitrans Designees”), each of whom was a member of the board of directors of Equitrans prior to the Effective Time, to the Board.

Appointed

Robert F. Vagt

Director

EQT · EQT Corp

Effective: 2024-07-22
Filed: July 22, 2024, 7:59 PM ET

the board of directors of EQT (the “Board”) increased the size of the Board by three members and appointed Vicky A. Bailey, Thomas F. Karam and Robert F. Vagt (collectively, the “Equitrans Designees”), each of whom was a member of the board of directors of Equitrans prior to the Effective Time, to the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas F. Karam was appointed as Director at EQT Corp.

Action: appointed
Role: Director

Exact text from the filing

the board of directors of EQT (the “Board”) increased the size of the Board by three members and appointed Vicky A. Bailey, Thomas F. Karam and Robert F. Vagt (collectively, the “Equitrans Designees”), each of whom was a member of the board of directors of Equitrans prior to the Effective Time, to the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Vicky A. Bailey was appointed as Director at EQT Corp.

Action: appointed
Role: Director

Exact text from the filing

the board of directors of EQT (the “Board”) increased the size of the Board by three members and appointed Vicky A. Bailey, Thomas F. Karam and Robert F. Vagt (collectively, the “Equitrans Designees”), each of whom was a member of the board of directors of Equitrans prior to the Effective Time, to the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert F. Vagt was appointed as Director at EQT Corp.

Action: appointed
Role: Director

Exact text from the filing

the board of directors of EQT (the “Board”) increased the size of the Board by three members and appointed Vicky A. Bailey, Thomas F. Karam and Robert F. Vagt (collectively, the “Equitrans Designees”), each of whom was a member of the board of directors of Equitrans prior to the Effective Time, to the Board.

View on SEC.gov

EQT Corp filing history →

Source: SEC EDGAR

accession 0001104659-24-081501

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