EQT Corporation completed its $5.2 billion acquisition of Quantum Energy Partners-backed Tug Hill's THQ Appalachia natural gas business and XcL Midstream's gathering system in December 2022.
The deal added approximately 90,000 core net acres in West Virginia's Marcellus and Utica formations and 800 MMcfe/d of production. The combined entity strengthened EQT's position as the largest U.S. natural gas producer.