EQT will spend $683 million to add 60,000 acres in Marcellus shale play

EQT Corp. will pay a total of $683 million in two separate transactions to add about 60,000 acres of natural gas holdings in the Marcellus shale play, reports the Pittsburgh Business Times. The newspaper says EQT announced it will pay $513 million to Trans Energy Inc. and its joint venture partner Republic Energy for 42,600 acres and gas production in West Virginia and a tender offer for outstanding shares of Trans Energy stock that will make Trans Energy a wholly owned subsidiary of EQT. The Business Times says EQT will also pay $170 million to an undisclosed company for 17,000 acres in in Washington, Westmoreland and Greene counties in western Pennsylvania. For more, read the full story.

Pennsylvania, West Virginia