Equinor has signed an agreement with EQT Corporation to acquire an additional non-operated interest in the Northern Marcellus formation in the US. Equinor will pay USD 1.25bn to EQT.
Under the agreement, Equinor is acquiring 100% of EQT’s remaining working interest in Northern Marcellus gas units primarily operated by Expand Energy.
The transaction will increase cashflow from the international portfolio by adding natural gas volumes with low carbon intensity emissions from production.
With this transaction, Equinor is increasing its average working interest in the Northern Marcellus asset from 25.7% to 40.7%. The transaction adds approximately 80,000 barrels of oil equivalent per day (boe/d) to Equinor’s US production in the near term.
Equinor’s E&P USA business has delivered over USD 5.5 bn in adjusted operating income after tax since the start of 2021.
