Equitrans Midstream launches as standalone company
Nov. 13, 2018
EQT Corp., Pittsburgh, completed the spin-off of Equitrans Midstream Corp., a company formed to hold EQT’s midstream business in the context of the separation of EQT’s upstream and midstream businesses, all in the Appalachian basin.
EQT Corp., Pittsburgh, completed the spin-off of Equitrans Midstream Corp., a company formed to hold EQT’s midstream business in the context of the separation of EQT’s upstream and midstream businesses, all in the Appalachian basin (OGJ Online, Feb. 21, 2018).
The separation took effect on Nov. 12 through a pro rata distribution of 80.1% of the outstanding common stock of Equitrans. EQT retained 19.9% of Equitrans’ outstanding common stock.
“We are laser-focused on the execution of our inflight projects, including the Mountain Valley Pipeline, which are expected to drive more than 50% growth in [earnings] over the next 3 years,” said Diana Charletta, chief operating officer of Equitrans Midstream.
At the deal’s close, Robert J. McNally became president and chief executive officer of EQT Corp. (OGJ Online, Aug. 9, 2018).
