PITTSBURGH--(BUSINESS WIRE)--
Equitrans Midstream Corporation (NYSE: ETRN) has completed its exercise
of the Limited Call Right, as previously announced, and has purchased
all remaining common units in EQGP Holdings, LP (NYSE: EQGP) (EQGP
Common Units) for $20.00 per unit in cash. Prior to the Limited Call
Right, ETRN closed certain private purchase transactions and owned
approximately 96% of the outstanding EQGP Common Units. As a result of
the private purchase transactions and completion of the Limited Call
Right, EQGP is now an indirect, wholly owned subsidiary of ETRN.
EQGP has filed a Form 25 with the Securities and Exchange Commission
(SEC) to delist the EQGP Common Units and withdraw the EQGP Common Units
from registration under Section 12(b) of the Securities Exchange Act of
1934, as amended (Exchange Act). The EQGP Common Units will continue to
be listed through January 21, 2019. On January 22, 2019, EQGP Common
Units will no longer be listed and, on that date, EQGP will file a Form
15 with the SEC requesting that the reporting obligations of EQGP under
the Exchange Act be suspended.
About Equitrans Midstream Corporation
Equitrans Midstream Corporation (ETRN) has a premier asset footprint in
the Appalachian Basin and is one of the largest natural gas gatherers in
the United States. With a rich 135-year history in the energy industry,
ETRN was launched as a standalone company in 2018 and, through its
subsidiaries, has an operational focus on gas gathering systems,
transmission and storage systems, and water services assets that support
natural gas producers across the Basin. ETRN is helping to meet
America’s growing need for clean-burning energy and strives to provide a
rewarding workplace and to enrich the communities where its employees
live and work. ETRN owns the general partner interest and 100% of the
limited partner interest in EQGP Holdings, LP (NYSE: EQGP) and a 12.7%
limited partner interest in EQM Midstream Partners, LP (NYSE: EQM). EQGP
owns the general partner interest, all of the incentive distribution
rights, and a 17.9% limited partner interest in EQM.
For more information on Equitrans Midstream Corporation, visit www.equitransmidstream.com
About EQM Midstream Partners
EQM Midstream Partners, LP (EQM) is a growth-oriented limited
partnership formed to own, operate, acquire, and develop midstream
assets in the Appalachian Basin. As the third largest gatherer of
natural gas in the United States, EQM provides midstream services to
producers, utilities, and other customers through its strategically
located natural gas transmission, storage, and gathering systems, and
water services to support energy development and production in the
Marcellus and Utica regions. EQM owns approximately 950 miles of
FERC-regulated interstate pipelines and approximately 2,130 miles of
high- and low-pressure gathering lines.
For more information on EQM Midstream Partners, LP, visit www.eqm-midstreampartners.com
About EQGP Holdings
EQGP Holdings, LP (EQGP) is a limited partnership that owns the general
partner interest, all of the incentive distribution rights, and a 17.9%
limited partner interest in EQM Midstream Partners, LP. Equitrans
Midstream Corporation owns the general partner interest and 100% of the
limited partner interest in EQGP.
For more information on EQGP Holdings, LP, visit www.eqm-midstreampartners.com
Cautionary Statements
Disclosures in this news release contain certain forward-looking
statements within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended, and Section 27A of the Securities Act of 1933,
as amended. 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 delisting and deregistration of EQGP Common
Units, and the suspension of EQGP’s reporting obligations under the
Exchange Act. 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. ETRN has
based these forward-looking statements on current expectations and
assumptions about future events. While ETRN considers these expectations
and assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory and other risks
and uncertainties, many of which are difficult to predict and beyond
ETRN’s control. The risks and uncertainties that may affect the
operations, performance and results of ETRN’s business and
forward-looking statements include, but are not limited to, those risks
discussed in ETRN’s Registration Statement on Form 10 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 ETRN does not intend to correct or update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Information in this news release regarding EQM is derived from publicly
available information published by EQM.
Source: Equitrans Midstream Corporation
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190110005735/en/
Analyst/Investor inquiries:
Nate Tetlow
Vice
President, Corporate Development and Investor Relations
412-553-5834
ntetlow@equitransmidstream.com
Media inquiries:
Natalie A. Cox
Director,
Corporate Communications
412-395-3941
ncox@equitransmidstream.com
Source: Equitrans Midstream Corporation