EQT’s $2.925 Billion Acquisition of Alta Resources’ Assets

Latham & Watkins, LLP represented EQT, while Kirkland & Ellis LLP represented Alta in the transaction.

EQT Corporation (NYSE: EQT) has entered into a purchase agreement with Alta Resources Development, LLC (Alta), pursuant to which EQT will acquire all of the membership interests in Alta’s upstream and midstream subsidiaries for approximately US$2.93 billion, subject to customary closing adjustments. The transaction is expected to close in the third quarter of 2021. 

EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. 

Alta Resources Development, LLC operates as a crude oil exploration company. The Company explores and produces oil and gas products.

BofA Securities served as financial advisor to EQT, and Citi Global Markets Inc. served as exclusive financial advisor to Alta.

Latham & Watkins LLP represented EQT Corporation in the transaction with a corporate team led by Houston partners Chris Bennett (Picture) and John Greer, with Houston associates Greg Sorensen, Rebecca Kendall, and Erin Lee, and assistance from Houston partner Jeff Munoz. Advice was also provided on tax matters by Houston partner Jim Cole, with Houston associate Emily Fawcett; on employee benefits matters by Washington, D.C. partner Adam Kestenbaum; on antitrust matters by Washington, D.C. counsel Peter Todaro; and on insurance matters by Los Angeles partner Drew Levin, with Los Angeles associate Harrison White.

The Kirkland team advising Alta was led by corporate partners Andy Calder, John Pitts and Melissa Kalka and associates Paul Knowlton, Michael Bassi, Tess Dennis and Austin Johnson; real asset partners Anthony Speier and Chad Smith and associates Lindsey Jaquillard and Isaac Bate; capital markets partner Julian Seiguer and Ieuan Adrian List; debt finance partners Lucas Spivey and Jordan Roberts and associate Layton Bell; tax partner David Wheat and associate Joe Tobias; environmental transactions partner Stefanie Gitler and James Dolphin; derivatives partner Drue Santora; executive compensation partner Rob Fowler and associate Katherine Baker; labor & employment partner R.D. Kohut and associates Jaclyn Schruhl and Colleen Angus-Yamada; employee benefits partner Maureen O’Brien and of counsel Patrick Ryan; energy regulatory partner Brooksany Barrowes and associate Cassidy Hall; and antitrust & competition partner Marin Boney and of counsel Ellen Jakovic.

Involved fees earner: Colleen Angus-Yamada – Kirkland & Ellis; Katherine Baker – Kirkland & Ellis; Brooksany Barrowes – Kirkland & Ellis; Michael Bassi – Kirkland & Ellis; Isaac Bate – Kirkland & Ellis; Layton Bell – Kirkland & Ellis; Marin Boney – Kirkland & Ellis; Andrew Calder – Kirkland & Ellis; Tess Elizabeth Dennis – Kirkland & Ellis; James Dolphin – Kirkland & Ellis; Robert Fowler – Kirkland & Ellis; Stefanie Gitler – Kirkland & Ellis; Cassidy Hall – Kirkland & Ellis; Ellen Jakovic – Kirkland & Ellis; Lindsey Jaquillard – Kirkland & Ellis; Melissa Kalka – Kirkland & Ellis; Paul Knowlton – Kirkland & Ellis; R.D. Kohut – Kirkland & Ellis; Ieuan List – Kirkland & Ellis; John Pitts – Kirkland & Ellis; Jordan Roberts – Kirkland & Ellis; Patrick Ryan – Kirkland & Ellis; Drue Santora – Kirkland & Ellis; Jaclyn Schruhl – Kirkland & Ellis; Julian Seiguer – Kirkland & Ellis; Chad Smith – Kirkland & Ellis; Anthony Speier – Kirkland & Ellis; Lucas Spivey – Kirkland & Ellis; Joe Tobias – Kirkland & Ellis; David Wheat – Kirkland & Ellis; Christopher Bennett – Latham & Watkins; Jim Cole – Latham & Watkins; Emily Fawcett – Latham & Watkins; John Greer – Latham & Watkins; Austin Johnson – Latham & Watkins; Rebecca Kendall – Latham & Watkins; Adam Kestenbaum – Latham & Watkins; Erin Lee – Latham & Watkins; Drew Levin – Latham & Watkins; Jeffrey Muñoz – Latham & Watkins; Greg Sorense – Latham & Watkins; Peter Todaro – Latham & Watkins; Harrison White – Latham & Watkins; Maureen O’Brien – McDermott Will & Emery;

Law Firms: Kirkland & Ellis; Latham & Watkins; McDermott Will & Emery;

Clients: Alta Resources Development, LLC; EQT Corporation LP;

Author: Martina Bellini