Title : Empire Builder -- June 19, 2017
link : Empire Builder -- June 19, 2017
Empire Builder -- June 19, 2017
Disclaimer: this is not an investment site. Do not make any investment, financial, travel, job, or relationship decisions based on anything you read here or think you may have read here.EQT to buy Rice Energy. Some data points:
- $6.7 billion
- Marcellus/Utica
- would create the biggest natural gas producer in the US
- biggest deal ever for EQT
- EQT's shares fell almost 10% before recovering a bit
- EQT-Rice would be ahead of Exxon Mobil Corp as the nation's biggest gas producer
- appears to be empire building: analyst
- would begin monetizing Rice's midstream assets by dropping them down to EQT Midstream Partners; could raise $1.3 billion
- abuts existing EQT acreage in Pennsylvania
- EQT is a decade behind in fracking technology; Rice provides EQT what it needs: analyst
- EQT has been buying Marcellus acreage: most recently, 53,400 acres from Stone Energy
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