FTC clears EQT’s Tug Hill acquisition but Quantum Energy must give up board seat

The Federal Trade Commission ordered Quantum Energy Partners and founder Wil VanLoh to give up the company’s seat on the board of rival EQT Corp. (NYSE:EQT) to avoid violating antitrust laws, the agency said Wednesday.

The FTC said allowing Quantum CEO VanLoh to join EQT’s (EQT) board would create an illegal overlap for companies that compete directly with each other to produce and sell natural gas from the Appalachian Basin.