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 bloom.bg/35m1oow 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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