EQT Corp., a U.S. natural gas producer, said it would buy Quantum Energy-backed THQ Appalachia for $5.2 billion.
A surge in global natural gas prices after Russia’s invasion of Ukraine has profited U.S. natural gas producers and encouraged deals in the industry as companies try to scale up.
Quantum Energy, which backs THQ, will receive $2.6 billion in cash and stock.
EQT doubled its share repurchase authorization and raised its 2023 debt reduction target to $4 billion. The deal will add 800 million cubic feet per day of gas equivalent production to EQT and pipeline infrastructure, the company said....