EQT Corporation (NYSE: EQT) disclosed that it has inked an acquisition agreement with Alta Resources Development, LLC (Alta). As per the acquisition agreement, EQT Corporation will purchase all of the membership interests in upstream and midstream holdings of Alta for nearly $2.925 billion, dependent on traditional execution regulations.

This acquisition is beneficial for EQT Corporation as this suited strongly within its strategic purchase framework, while also setting up a substantial and strategic position in the central core of the Northeast Marcellus. The firm is anticipating that this acquisition will contribute towards both free cash flow per share and net asset value (NAV) per share.

Moreover, it will also speed up its debt reduction strategy and highlighting its dedication to attaining investment-grade credit metrics. This deal has an appealing valuation with a high margin and strong free cash flow generation. In addition to this, it also enhances highly creative inventory with excellent good economics in the essence of the Northeast Marcellus.

The firm disclosed that this acquisition is the greatest achievement for the firm as the firm step foot on the path to become the business operator of choice for all of its stakeholders. Furthermore, CEO Toby Rice said that this purchase of Alta's assets signifies an appealing entry into the Northeast Marcellus while speeding up its indebtedness path, offering appealing free cash flow per share accrual for its investors and adding highly economic inventory to EQT's already strong portfolio.