Oil Producer EQT Corp To Spin Off Midstream Operations
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)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.