EQT Midstream Partners, LP (EQM) today announced that it has entered into a definitive agreement with Range Resources – Appalachia, LLC to construct a natural gas header pipeline in southwestern Pennsylvania to support Range’s dry Marcellus and Utica development. The pipeline will provide greater than half a billion cubic feet per day of firm capacity and is backed by a long-term firm capacity reservation commitment.
EQT Midstream Partners, LP (Partnership) will invest approximately $250 million for the construction of 32 miles of pipeline and installation of approximately 32,000 horsepower of compression. The Partnership plans to complete the project in two phases, with phase one expected to be in-service by the third quarter of 2016 and phase two by mid-year 2017. The majority of capital investment is expected throughout 2016 and the first half of 2017.
Randy Crawford, Chief Operating Officer, stated, “Our growing pipeline footprint distinctly positions us to provide cost-effective midstream services to Appalachian Basin producers; and with this project in particular, we are pleased to build upon our relationship with Range Resources. As we continue to expand and extend our pipeline network through organic projects such as the Ohio Valley Connector and the Mountain Valley Pipeline, we are building a premier natural gas hub that offers producers in the Marcellus and Utica access to a variety of demand markets.”
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 700 miles and operates an additional 200 miles of FERC-regulated interstate pipelines; and also owns more than 1,600 miles of high- and low-pressure gathering lines.
Visit EQT Midstream Partners, LP at www.eqtmidstreampartners.com.
About Range Resources Corporation:
Range Resources Corporation (RRC) is a leading independent oil and natural gas producer with operations focused in Appalachia and the Midcontinent region of the United States. The Company pursues an organic growth strategy targeting high return, low-cost projects within its large inventory of low risk, development drilling opportunities. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at http://www.rangeresources.com.
