EQT Midstream Partners Announces Public Offering of Common Units

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EQT Midstream Partners Announces Public Offering of Common Units

PITTSBURGH--(BUSINESS WIRE)-- EQT Midstream Partners, LP (NYS: EQM) , an EQT Corporation company, announced today the commencement, subject to market conditions, of an underwritten public offering of 10,000,000 common units representing limited partner interests. EQT Midstream Partners, LP (Partnership) also intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 common units.

The Partnership intends to use the net proceeds from the offering to fund a portion of the cash distribution to be made to EQT Corporation in connection with the Partnership's previously announced acquisition of Sunrise Pipeline, LLC (Sunrise).

The Partnership intends to use the net proceeds from the underwriters' exercise of their option to purchase additional common units, if any, including any proportionate capital contribution from the Partnership's general partner to maintain its 2% general partner interest in the Partnership, for general partnership purposes.

Citigroup, Barclays, BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan, RBC Capital Markets, and Wells Fargo Securities are acting as joint book-running managers for the offering. When available, copies of the preliminary prospectus supplement, prospectus supplement, and accompanying base prospectus relating to the offering may be obtained free of charge on the Securities and Exchange Commission's website at www.sec.gov or from the underwriters of the offering as follows:



c/o Broadridge Financial Solutions

c/o Broadridge Financial Solutions

1155 Long Island Avenue

1155 Long Island Avenue

Edgewood, NY 11717

Edgewood, NY 11717

Telephone: 1-800-831-9146


Telephone: 1-888-603-5847


BofA Merrill Lynch

Credit Suisse

Attn: Prospectus Department

Attn: Prospectus Department

222 Broadway

One Madison Avenue

New York, NY 10038

New York, NY 10010




Telephone: 1-800-221-1037
Deutsche Bank Securities Goldman, Sachs & Co.
Attn: Prospectus Group Attn: Prospectus Department
60 Wall Street 200 West Street
New York, NY 10005-2836 New York, NY 10282



Telephone: 800-503-4611 Telephone: 866-471-2526
J.P. Morgan RBC Capital Markets
c/o Broadridge Financial Solutions Attn: Equity Syndicate
1155 Long Island Avenue Three World Financial Center
Edgewood, NY 11717 200 Vesey Street, 8th Floor
Telephone: 1-888-803-9204 New York, NY 10281
Telephone: 877-822-4089
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, NY 10152


Telephone: 800-326-5897

The common units will be offered and sold pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

About EQT Midstream Partners:

EQT Midstream Partners, LP is a growth-oriented limited partnership formed by EQT Corporation to own, operate, acquire and develop midstream assets in the Appalachian basin. The Partnership provides midstream services to EQT Corporation and third-party companies through two primary assets: the Equitrans Transmission and Storage System and the Equitrans Gathering System. The Partnership has a 700-mile, FERC-regulated interstate pipeline system and more than 2,000 miles of FERC-regulated, low-pressure gathering lines.

Visit EQT Midstream Partners, LP at www.eqtmidstreampartners.com

Cautionary Statements

Disclosures in this press release contain certain forward-looking statements. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and growth of the Partnership and its subsidiaries, including guidance regarding the number of units to be sold in the offering, the Partnership's expected use of proceeds from the offering, the timing of the closing of the Sunrise Acquisition. These statements involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The Partnership has based these forward-looking statements on current expectations and assumptions about future events. While the Partnership considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, most of which are difficult to predict and many of which are beyond the Partnership's control. The risks and uncertainties that may affect the operations, performance and results of the Partnership's business and forward-looking statements include, but are not limited to, those risks discussed in the Partnership's most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which such statement is made and the Partnership does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.

EQT Midstream Partners
Analyst inquiries please contact:
Nate Tetlow - Investor Relations Manager, 412-553-5834
Patrick Kane - Chief Investor Relations Officer, 412-553-7833
Media inquiries please contact:
Natalie Cox - Corporate Director, Communications, 412-395-3941

KEYWORDS:   United States  North America  Pennsylvania


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