M&A Deal Summary

EQM Midstream Acquires EQT - Transmission Storage and Gathering Assets

On October 13, 2016, EQM Midstream acquired energy services and equipment company EQT - Transmission Storage and Gathering Assets from EQT for 275M USD

Acquisition Highlights
  • This is EQM Midstream’s 1st transaction in the Energy Services and Equipment sector.
  • This is EQM Midstream’s 4th largest (disclosed) transaction.
  • This is EQM Midstream’s 5th transaction in the United States.
  • This is EQM Midstream’s 3rd transaction in Pennsylvania.

M&A Deal Summary
Date 2016-10-13
Target EQT - Transmission Storage and Gathering Assets
Sector Energy Services and Equipment
Buyer(s) EQM Midstream
Sellers(s) EQT
Deal Type Divestiture
Deal Value 275M USD

Target

EQT - Transmission Storage and Gathering Assets

Pittsburgh, Pennsylvania, United States
EQT Corp. - Transmission, Storage and Gathering Assets is a provider of energy services for oil and gas industry in US.

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Buyer(S) 1

Buyer

EQM Midstream

Canonsburg, Pennsylvania, United States
Category Company
Founded 2012
Sector Energy Services and Equipment
Employees771
Revenue 1.6B USD (2019)
DESCRIPTION

EQM Midstream is an integrated energy company. Equitrans Midstream was founded in 2012 and is based in Canonsburg, Pennsylvania.

DEAL STATS #
Overall 5 of 7
Sector (Energy Services and Equipment) 1 of 3
Type (Divestiture) 4 of 4
State (Pennsylvania) 3 of 3
Country (United States) 5 of 7
Year (2016) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-11 Mountain Valley Pipeline

Pittsburgh, Pennsylvania, United States

Mountain Valley Pipeline LLC is a proposal to build a pipeline to bring natural gas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-14 Hornet Midstream Holdings

Romney, West Virginia, United States

Hornet Midstream Holdings LLC is a 15-mile, high-pressure gathering system in West Virginia that connects to the Eureka system. Hornet Midstream Holdings LLC is based in Romney, West Virginia.

Buy -

Seller(S) 1

SELLER

EQT

Pittsburgh, Pennsylvania, United States
Category Company
Founded 1878
Sector Oil/Gas Exploration
Employees881
Revenue 5.1B USD (2023)
DESCRIPTION
Entrance to EQT's corporate headquarters in downtown Pittsburgh, Pennsylvania.
Entrance to EQT's corporate headquarters in downtown Pittsburgh, Pennsylvania.

EQT is an integrated energy company, with an emphasis on Appalachian area natural gas supply, transmission and distribution. EQT was founded in 1878 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 8 of 9
Sector (Energy Services and Equipment) 2 of 2
Type (Divestiture) 6 of 6
State (Pennsylvania) 4 of 5
Country (United States) 8 of 9
Year (2016) 1 of 1
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-02 Statoil USA Onshore Properties - Non Core Assets

Houston, Texas, United States

Statoil USA Onshore Properties - Non Core Assets include 62,500 net acres that it operates in the state of West Virginia, 31 Marcellus wells, 24 of which are currently producing. Statoil owns about 665,500 total acres in the Marcellus, the largest US gas field by volume. The Marcellus and Utica shales, located in the Appalachian region of the US, have provided 85pc of the country's shale gas production growth since the start of 2012, according to the US Energy Information Administration

Buy $407M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-25 Trans Energy

St. Marys, West Virginia, United States

Trans Energy, Inc. is an independent energy exploration and development company with its primary focus on exploitation of the Marcellus Shale.

Buy -
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