EQT Corporation Announces Plan to File a Registration Statement for Interests in General Partner of EQT Midstream Partners, LP

Monday, December 8, 2014 7:03 am EST



Public Company Information:


PITTSBURGH--(BUSINESS WIRE)--EQT Corporation (NYSE: EQT) today announced that it intends to file a registration statement with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) of common units of a master limited partnership (HoldCo) that will own the general partner and the incentive distribution rights of EQT Midstream Partners, LP (NYSE: EQM), as well as EQT’s 21.3 million limited partner units. EQT expects to file a registration statement for the IPO with the SEC during the first quarter of 2015, and anticipates the public offering in mid-2015.

Under the proposed structure, EQT expects to sell a small percentage of HoldCo to the public in the IPO, subject to market conditions. At the close of the IPO, EQT would own the general partner of HoldCo, and more than 80% percent of HoldCo’s common units. EQT intends to use the net proceeds from the IPO for the development of its existing assets, future capital expenditures, and general corporate purposes.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offer, solicitations of offers to buy, or any sales of securities will only be made in accordance with the registration requirements of the Securities Act of 1933 or an exemption therefrom. This announcement is being issued pursuant to and in accordance with Rule 135 under the Securities Act of 1933.

Forward-Looking Statements
Disclosures in this news 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 news release specifically include the expectations of plans, strategies, and objectives, including guidance regarding the timing of filing of a registration statement for an IPO of HoldCo and whether a registration statement will ever be filed, the timing of a public offering and whether a public offering will occur, the assets to be held by HoldCo, the use of offering proceeds and the structure and terms of the potential IPO. These statements involve risks and uncertainties that could cause actual results to differ materially from projected results, anticipated results or other expectations expressed in this news release, including, without limitation, due to the fact that EQT’s business plans and strategy may change as circumstances warrant, securities in HoldCo may not ultimately be offered, EQT may not be able to raise the planned amount of capital even if the offering of securities is completed, the planned assets of HoldCo may change and EQT may not be able to complete the proposed actions on the timetable indicated. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. EQT has based these forward-looking statements on current expectations and assumptions about future events. While EQT 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 EQT’s control. The risks and uncertainties that may affect the operations, performance and results of the company's business and forward-looking statements include, but are not limited to, those set forth under Item 1A, "Risk Factors" of the company's Form 10-K for the year ended December 31, 2013, as updated by any subsequent Form 10-Qs.

Any forward-looking statement speaks only as of the date on which such statement is made and EQT does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.

About EQT Corporation:
EQT Corporation is an integrated energy company with emphasis on Appalachian area natural gas production, gathering, and transmission. EQT is the general partner and significant equity owner of EQT Midstream Partners, LP. With more than 120 years of experience, EQT continues to be a leader in the use of advanced horizontal drilling technology – designed to minimize the potential impact of drilling-related activities and reduce the overall environmental footprint. Through safe and responsible operations, EQT is committed to meeting the country’s growing demand for clean-burning energy, while continuing to provide a rewarding workplace and enrich the communities where its employees live and work. EQT shares are traded on the New York Stock Exchange as EQT.


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

Media Relations

(For credentialed news media)

Mike Laffin
Vice President,
Tel. 412.395.2069

Investor Relations

Andrew Breese
Tel. 412.395.2555