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Tuesday, March 10, 2015

EQT Midstream to purchase EQT Corp gas-gathering assets for $1.05 bln, (NYSE: EQM)

EQT Midstream Partners LP said it would purchase natural gas producer EQT Corp's Northern West Virginia Marcellus Gathering System and a preferred interest in an EQT subsidiary for about $1.05 billion. EQT Midstream said it would pay $997.5 million in cash and $52.5 million in common and general partner units for the assets.

EQT Midstream Partners, LP, incorporated on January 18, 2012, owns, operates, acquires and develops midstream assets in the Appalachian Basin. Shares of EQM traded higher by 0.97% or $0.77/share to $80.46. In the past year, the shares have traded as low as $63.26 and as high as $102.51. On average, 238127 shares of EQM exchange hands on a given day and today's volume is recorded at 174245.