Oil Producer EQT Corp To Spin Off Midstream Operations



Reuters

Feb 21 (Reuters) - Oil and gas producer EQT Corp said on Wednesday that it would separate its upstream and midstream businesses, finally giving in to months of investor pressure.

EQT said its board had unanimously approved a plan for separation, creating a standalone publicly traded corporation that will focus on midstream operations.

The company which completed the $6.7 billion acquisition of Rice Energy in November, was being urged by investors D.E. Shaw & Co and Jana Partners to separate its business units.

(Reporting by Ahmed Farhatha in Bengaluru; Editing by Shailesh Kuber)



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