EQT Midstream Partners, LP (NYSE: EQM) announced that it expects an
immaterial impact, if any, from yesterday’s revised policy statement by
the Federal Energy Regulatory Commission (FERC) to disallow income tax
cost recovery by pipelines owned by master limited partnerships. As of
December 31, 2017, approximately 89% of EQM’s contracted transmission
capacity was subscribed under negotiated rate agreements. In addition,
all of the 2 Bcf per day of capacity on the Mountain Valley Pipeline is
subscribed under negotiated rate agreements. In 2017, approximately 54%
of operating revenues were generated by gathering operations and 46% of
operating revenues were from the transmission and storage segment.
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 also
owns approximately 1,800 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.
EQT Corporation owns a 90% limited partner interest in EQT GP Holdings,
LP.
Visit EQT GP Holdings, LP at www.eqtmidstreampartners.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 EQGP
and its subsidiaries, including EQM, including guidance regarding the
FERC’s revised policy statement to disallow income tax allowance cost
recovery by pipelines owned by master limited partnerships. 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
EQGP have based these forward-looking statements on current expectations
and assumptions about future events. While EQM and EQGP 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 EQGP’s
business and forward-looking statements include, but are not limited to,
those set forth under Item 1A, “Risk Factors” of EQM’s Form 10-K for the
year ended December 31, 2017 as filed with the Securities and Exchange
Commission (SEC) and Item 1A, “Risk Factors” of EQGP’s Form 10-K for the
year ended December 31, 2017 as filed with the SEC, 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 EQM nor EQGP
intends to correct or update any forward-looking statement, whether as a
result of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180316005591/en/
Copyright Business Wire 2018
Source: Business Wire
(March 16, 2018 - 12:33 PM EDT)
News by QuoteMedia
www.quotemedia.com