US Gas Firm EQT Is Said to Near Deal for Appalachia Producer (2)

EQT Corp., the largest US natural gas producer, is in advanced talks to acquire THQ Appalachia I LLC to expand in the Marcellus shale, according to people with knowledge of the matter.

THQ Appalachia, backed by Tug Hill Operating and Quantum Energy Partners, and some midstream assets would be valued in the deal at about $5.2 billion, the people said, asking not to be identified discussing private information. The transaction will include Tug Hill’s XcL Midstream, a pipeline firm that moves gas in Appalachia to market.

An announcement could come as soon as Tuesday, the people said. A ...