Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Eqt Corp. Announces It Will Split into Two Companies One for Production, Other for Processing

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Eqt Corp. Announces It Will Split into Two Companies One for Production, Other for Processing

Article excerpt

As promised, EQT Corp. announced it will be splitting into two companies -- one focused on oil and gas exploration and production and the other dedicated to gas pipelines and processing.

The Downtown-based firm is the largest producer of natural gas in the country, but its investors have been pressuring the company to split the pipeline assets into a stand-alone firm, expecting that the resulting companies would be stronger and better valued separately than they were together.

The new midstream company will operate the assets of EQM, EQT's master limited partnership spinout, and Rice Midstream Partners, an MLP previously spun out of Rice Energy Inc., which EQT acquired last year, along with other midstream operations that are currently with the parent company. …

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