Appalachian Basin natural gas producer EQT swaps land, wells wit - Beckley, Bluefield & Lewisburg News, Weather, Sports

Appalachian Basin natural gas producer EQT swaps land, wells with Texas-based Range Resources

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Pittsburgh-based EQT Corp. and Range Resources Corp., headquartered in Fort Worth, Texas, have completed their land and well swap between Virginia and Texas, the companies announced June 16.

In the exchange, originally announced in April 2014, EQT received about 73,000 net acres and more than 900 producing wells in the Permian Basin in western Texas. Range received approximately 138,000 net acres and the remaining interest in a supporting gathering system in the Nora Field of western Virginia, and $145 million cash.

EQT is one of the largest natural gas producers in the Appalachian Basin, operating in Pennsylvania, West Virginia, Virginia and Kentucky. Range is an independent oil and natural gas producer with its sights set on Appalachia and the Midcontinent United States.