Equinor to Buy Marcellus Shale Wells From EQT for $1.25 Billion

Equinor ASA agreed to buy natural gas wells and other assets in the biggest US shale-gas field from EQT Corp.for $1.25 billion.

The deal announced Tuesday will add the daily equivalent of roughly 80,000 barrels of crude to Equinor’s US production, according to a statement. The transaction involves assets in the Marcellus formation in Pennsylvania.

The wells in question are largely operated by Expand Energy Corp., the amalgamation created when Chesapeake Energy Corp. took over Southwestern Energy Co. earlier this year. The merger dethroned EQT as the biggest producer of US gas.

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