EQT Corp. Announces IPO For Interests In General Partner Of Midstream Partners

(RTTNews) - EQT Corp. (EQT) announced it intends to file a registration statement with the U.S. SEC for an initial public offering 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 (EQM), as well as EQT's 21.3 million limited partner units. Under the proposed structure, EQT expects to sell a small percentage of HoldCo to the public in the IPO. 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.

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.