EQT Midstream Partners, LP (EQM) - NYSE
  • Jul. 15, 2013, 5:09 PM

    EQT Midstream (EQM) is buying EQT Corp.'s (EQT) Sunrise pipeline (a 41.5-mile pipeline, along with a compressor station and a pipeline interconnect) for $507.5M in cash + $32.5M in equity. EQT Midstream will pay an additional $110M to EQT Corp. following the completion of a new 20-year transportation deal with a 3rd party. The purchase is expected to be immediately accretive to cash flow/partnership unit. Separately, EQT Midstream is announcing a $0.40/unit Q2 cash distribution; that's higher than Q1's $0.37/unit. Update: EQT Midstream follows up by announcing a 10M-share stock offering to help pay for the acquisition.

    | Jul. 15, 2013, 5:09 PM
Company Description
EQT Midstream Partners LP owns, operates, acquires and develops midstream assets in the Appalachian Basin. The company provides natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It intends to focus its operations in the Marcellus... More
Industry: Major Integrated Oil & Gas
Country: United States