The Federal Trade Commission (FTC) is inviting public comment on a petition to reopen and set aside a final consent order related to a $5.2 billion deal between Quantum Energy Partners and EQT Corporation. The 2023 consent order addressed antitrust concerns, alleging that the deal would make Quantum one of EQT's largest shareholders and grant it a seat on EQT's board. Both companies are competitors in the Appalachian Basin's natural gas market.
The FTC raised concerns about an existing joint venture between EQT and Quantum, which involved purchasing mineral rights in the Appalachian Basin. This was seen as potentially harmful to competition due to possible anticompetitive information exchange. The FTC argued that the deal violated antitrust laws.
Under the final order, Quantum was barred from holding an EQT board seat to prevent interlocking directorates, required to divest its EQT shares, prohibited from exchanging competitive information, and had to dissolve their joint venture with EQT.
EQT, Quantum Energy, and other parties have filed a petition seeking to revisit the consent order. The petition claims that by October 2024, Quantum had divested all its EQT shares and dissolved their joint venture by February 2024. They argue that these changes warrant reopening and setting aside the order for public interest reasons.
Public comments on this petition can be submitted until August 21, 2025. Instructions for submitting comments are available on the docket at Regulations.gov. After reviewing comments, the FTC will vote on how to proceed with the petition.
The FTC aims to promote competition while protecting consumers through education. It emphasizes never demanding money or making threats and encourages filing antitrust complaints if necessary.
