Natural gas driller EQT Corp seeking to buy CNX Resources – Bloomberg News

Oct 22 (Reuters) – EQT Corp, the largest U.S. natural gas producer, is considering buying rival CNX Resources , Bloomberg News reported on Thursday, citing people familiar with the matter.

EQT had recently sent a takeover proposal to CNX Resources, the report said, adding that no final decision has been made.

Last month, Reuters reported that EQT had bid for Chevron Corp’s Appalachia gas properties and a pipeline stake.

Deal-making has recently picked up pace among oil-focused U.S. producers slammed by the rout in energy prices during the COVID-19 pandemic.

Both EQT and CNX declined to comment on the news. (Reporting by Arundhati Sarkar in Bengaluru; Eiting by Devika Syamnath)


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