Analyst Research

Report Title Price
Provider: Stock Traders Daily
Provider: Stock Traders Daily
Provider: Validea
Provider: Thomson Reuters Stock Report

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

EQT Midstream Partners LP to Acquire Sunrise Pipeline from EQT Corp

Monday, 15 Jul 2013 04:56pm EDT 

EQT Midstream Partners LP and EQT Corp(EQT) announced that EQT Midstream Partners has agreed to acquire EQT's ( wholly owned subsidiary, Sunrise Pipeline, LLC (Sunrise), for $507.5 million cash and $32.5 million of common and general partners units. EQT Midstream Partners (Partnership) also agreed to pay additional consideration of $110 million to EQT upon the effectiveness of a new transportation agreement with a third-party that the Partnership expects to become effective post-closing. The primary assets of Sunrise consist of: 41.5 miles of 24-inch diameter FERC-regulated pipeline that parallels and interconnects with the segment of the Partnership`s transmission and storage system from Wetzel County, West Virginia to Greene County, Pennsylvania; the Jefferson compressor station in Greene County; and an interconnect with the Texas Eastern pipeline in Greene County. Sunrise also entered into a precedent agreement with a third-party, over a 20-year term, for firm transportation capacity related to the Jefferson expansion. The terms of the acquisition were approved by the Partnership's Conflicts Committee, which is comprised entirely of independent directors. The committee was advised by Evercore Partners Inc. regarding financial matters; and Richards, Layton & Finger P.A. regarding legal matters. The general partner and its affiliates were advised by Baker Botts L.L.P. regarding legal matters. 

Company Quote

0.14 +0.18%
27 Mar 2015