20 April 2024
ANALYSIS: Chevron gifts its Appalachian assets to EQT, just as prices pick up
Publication date: 28 October 2020
Gas Strategies Group
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EQT Corporation has swooped to acquire Chevron’s gas-rich Appalachian shale assets for USD 735 million, a fraction of the price that the US supermajor paid to take the position in 2011. Chevron, which wrote off the assets last December, seems to be making a heavy loss even on the capital it invested to develop the Marcellus position, highlighting the magnitude of capital destruction endured in recent years by ...