In wake of Rice Energy acquisition, EQT unveils plan to spin off midstream assets

摘要

In a move highly anticipated by investors, EQT, the largest US gas producer by volume, on February 21 unveiled a tax-free plan to spin off its midstream operations into a standalone company, creating the third-largest midstream gas company in the US. Company officials said the plan to separate EQT’s exploration-andproduction operations from its midstream assets, which had been a long time in the making, were kicked into overdrive by the acquisition of rival Appalachian producer Rice Energy last November. “The integrated model provided many benefits during the rapid development of our Marcellus assets,” EQT President and CEO Steve Schlotterbeck said February 21 in a conference call.