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EQT mulls sale of Huron shale play assets after $2.3B write-off

EQT Corp. is considering selling its noncore production and associated gathering and pipeline assets in the Huron shale play of West Virginia, the company said in a May 31 SEC filing.

EQT posted a net loss of $1.59 billion in the first quarter, plummeting from a net income of $164.0 million in the year-ago period, due to a $2.3 billion impairment charge associated with Huron and Permian assets.

The company, which is the biggest natural gas producer in the U.S., is in the process of merging its master limited partnerships EQT Midstream Partners LP and Rice Midstream Partners LP in a $2.4 billion deal to streamline its operations.