Oct 29 (Reuters) - EQT Corp ( EQT ) said on Tuesday it

would sell its remaining interest in its non-operated natural

gas assets in northeast Pennsylvania for $1.25 billion in cash

to Equinor.

Earlier this year, the natural gas producer said it would

sell a 40% interest in northeast Pennsylvania to Equinor USA in

exchange for the Norway-based company's onshore asset in the

Appalachian basin and $500 million in cash.

The sale comes amid EQT's efforts to shed off its debt pile,

which it accumulated after completing the $14 billion purchase

of pipeline operator Equitrans Midstream in July.

Though the acquisition added more than 2,000 miles of

pipelines to its portfolio, EQT's total debt increased

substantially to $13.8 billion as of Sept. 30, compared to $5.8

billion as of Dec. 31, 2023.

The company also beat Wall Street expectations for

third-quarter profit, benefiting from higher sales volumes.

Counted among the biggest natural gas producers in the U.S.,

EQT said its total sales volumes increased to 581 billion cubic

feet equivalent (bcfe) in the three months ended Sept. 30, from

523 bcfe last year.

The Pittsburgh, Pennsylvania-based company posted adjusted

profit of 12 cents per share for the quarter, compared with

analysts' estimates of 6 cents per share, according to data

compiled by LSEG.