Up to 2-EQT to pay $ 54mn to West Virginia landowners to settle

(Please enter details of the EQT statement)

February 13 (Reuters) – The EQT oil and gas producer Corp. said Wednesday, he agreed to pay around $ 54 million to resolve legal applications with landowners of West Virginia over royalty payments.

The energy company said that the payment of royalty claims will be resolved between 2009 and 2017.

"EQT is working hard to resolve this matter with our leasing and confidence, as well as other residents and community leaders of West Virginia," said Chief Executive EQT, Robert McNally, in Wednesday's statement.

The EQT said about the settlement, it agreed to stop future leakage deductions on leases determined by the court without permitting deductions and future royalty payments based on index pricing.

The company operates natural gas wells in the maritime shell of Marcellus that crosses Ohio, West Virginia, Pennsylvania and New York. (Report by John Benny in Bengaluru Editing by Saumyadeb Chakrabarty; Edited by Anil D 'Silva)

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