PITTSBURGH--(BUSINESS WIRE)--EQT Midstream Partners, LP (NYSE: EQM) and Rice Midstream Partners LP
(NYSE: RMP) today announced unitholder approval of RMP’s previously
announced merger transaction with EQM. At today’s RMP special meeting of
unitholders, approximately 81.8% of RMP’s outstanding common units were
voted, with approximately 99.9% of those votes cast in favor of the
merger. The parties expect the transaction to close on Monday, July 23,
2018.
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
its strategically located transmission, storage, and gathering systems
that service the Marcellus and Utica regions. The Partnership owns
approximately 950 miles of FERC-regulated interstate pipelines and
approximately 1,950 miles of high- and low-pressure gathering lines.
Visit EQT Midstream Partners, LP at www.eqtmidstreampartners.com.
About EQT GP Holdings:
EQT GP Holdings, LP is a limited partnership that owns the general
partner interest, all of the incentive distribution rights, and a
portion of the limited partner interests in EQT Midstream Partners, LP;
as well as the incentive distribution rights in Rice Midstream Partners
LP. EQT Corporation owns the general partner interest and a 91% limited
partner interest in EQT GP Holdings, LP.
Visit EQT GP Holdings, LP at www.eqtmidstreampartners.com.
About Rice Midstream Partners:
Rice Midstream Partners LP is a fee-based, growth-oriented limited
partnership formed to own, operate, develop and acquire midstream assets
in the Appalachian basin. RMP provides midstream services to EQT
Corporation and third-party companies through its natural gas gathering,
compression and water assets in the rapidly developing dry gas cores of
the Marcellus and Utica Shales.
Visit Rice Midstream Partners LP at www.ricemidstream.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 expectations of plans, strategies, objectives
and growth and anticipated financial and operational performance of EQM
and RMP, including whether the transactions described in this news
release are completed, as expected or at all, and the timing of any such
transactions; whether the conditions to the transactions can be
satisfied; whether the operational, financial and strategic benefits of
the transactions can be achieved; whether the costs and expenses of the
transactions can be controlled within expectations; potential adverse
reactions or changes to business or employee relationships, including
those resulting from the announcement or completion of the transactions;
competitive responses to the transactions; the possibility that the
anticipated benefits of the transactions are not realized when expected
or at all; the possibility that the transactions may be more expensive
to complete than anticipated, including as a result of unexpected
factors or events; diversion of management’s attention from ongoing
business operations and opportunities; potential adverse reactions or
changes to business or employee relationships, including those resulting
from the announcement or completion of the transactions; and litigation
relating to the transactions. These forward looking 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. EQM and RMP have based these forward-looking statements
on current expectations and assumptions about future events. While EQM
and RMP consider 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 the partnerships’ control. The risks
and uncertainties that may affect the operations, performance and
results of EQM’s and RMP’s business and forward-looking statements
include, but are not limited to, those set forth under Item 1A, “Risk
Factors” of the Form 10-K for the year ended December 31, 2017 as filed
with the Securities and Exchange Commission (SEC) of each of EQM and
RMP, in each case as may be updated by any subsequent Form 10-Qs. Any
forward-looking statement speaks only as of the date on which such
statement is made, and neither of EQM or RMP intends to correct or
update any forward-looking statement, whether as a result of new
information, future events or otherwise.
Additional Information and Where to Find It
In connection with the proposed transaction, EQM has filed with the SEC
a registration statement on Form S-4 that contains a proxy statement of
RMP and also constitutes a prospectus of EQM. The registration statement
was declared effective by the SEC on June 20, 2018 and RMP commenced
mailing the definitive proxy statement/prospectus to its unitholders on
or about June 20, 2018. This communication does not constitute an offer
to sell or the solicitation of an offer to buy any securities or a
solicitation of any vote or approval. UNITHOLDERS OF RMP ARE URGED TO
READ THE DEFINITIVE PROXY STATEMENT/PROSPECTUS REGARDING THE TRANSACTION
AND ANY OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE
SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS,
BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION.
Investors may obtain a free copy of the registration statement and the
proxy statement/prospectus, as well as other filings containing
information about EQM and RMP, without charge, at the SEC’s website (http://www.sec.gov).
In addition, the documents filed with the SEC by EQT Corporation and its
publicly traded subsidiaries (including EQM, RMP and EQGP) may be
obtained free of charge at the applicable website (www.eqt.com
for EQT Corporation, www.eqtmidstreampartners.com
for EQGP and EQM, and www.ricemidstream.com
for RMP) or by requesting them by mail at EQT Corporation, 625 Liberty
Avenue, Suite 1700, Pittsburgh, PA 15222, Attention: Investor Relations,
or by telephone at (412) 553-5700.
Contact:
EQT Midstream Partners / EQT GP Holdings / Rice Midstream Partners analysts:
Nate Tetlow, 412-553-5834
Investor Relations Director
ntetlow@eqtmidstreampartners.com
or
EQT analysts:
Patrick Kane, 412-553-7833
Chief Investor Relations Officer
pkane@eqt.com
or
Media inquiries:
Natalie Cox, 412-395-3941
Corporate Director, Communications
ncox@eqt.com