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EQT buying 58,000 acres in Marcellus area

EQT Corp. announced it has agreed to pay about $280 million — 90 percent in stock and 10 percent cash — to acquire 58,000 acres of land in the geographical formation known as the Marcellus Shale that holds natural gas.

According to the Downtown energy company’s official statement, the land is mainly in Cameron, Clearfield, Elk and Jefferson counties. It is owned by private operators and landowners.

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