EQT Corporation, U.S. Oil & Gas M&A Activity: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CORPORATE
U.S. Oil & Gas M&A Activity Hits Quarterly Record - U.S. oil and gas merger and acquisition (M&A) activity hit a record $51 billion in the first quarter of this year, a continuation of last year's fierce merger pace centered in the top U.S. shale field, data provider Enverus said on Tuesday. Most of the high-quality U.S. drilling prospects are in the Permian "so it is unsurprising the prolific basin was yet again the primary driver for M&A within oil and gas," said Andrew Dittmar, Enverus Intelligence Research's principal analyst. The biggest proposed acquisition last quarter was Diamondback Energy Incorporated's (NASDAQ:FANG) (Midland, Texas) $26 billion bid for Endeavor Energy Resources L.P. (Midland), a merger that brings together two Permian-centric drillers. (Reuters)

CRUDE OIL
Russia Cuts 2024-27 Crude Oil Price Forecast - The Russian economy ministry has downgraded its forecasts for the country's crude oil export prices for the next three years to $65 per barrel, according to an updated outlook seen by Reuters on Tuesday. The forecasts, used to compile the federal budget, were cut from previous estimates of $71.3 per barrel for 2024, $70.1 for 2025 and $70 for 2026. (Reuters)

LNG
Planned Texas LNG Plant Signs Offtake Agreement with EQT - Glenfarne Group LLC's (New York, New York) proposed liquefied natural gas (LNG) export plant in Brownsville, Texas, has signed an additional tolling agreement with EQT Corporation (NYSE:EQT) (Pittsburgh, Pennsylvania), the U.S. energy company said on Tuesday. According to the terms of the agreement, the Texas terminal will provide natural gas liquefaction services of an additional 1.5 million tons per annum (MTPA) over 20 years, taking the total supply volume to EQT to 2 MTPA. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).