EQT Announces Plan to Separate Midstream Business February 21, 2018
Creating Two Premier, Independent Energy Companies EQT Production (Upstream) Benefits Leading natural gas producer in the United States Distinct strategic goals 2018E sales volumes of 1,520 1,560 Bcfe Dedicated Management Teams…
Corporate Structure Current Structure and Midstream Streamlining Transactions After Separation and Midstream Streamlining EQT EQT NewCo Corp. EQT Production LP Units Public Retained Public EQT Production Midstream LP Units…
EQT Production Profile Largest natural gas producer in the U.S. Net Marcellus Acres 1,000,000 Core Net Marcellus Acres 680,000 Core Marcellus Undeveloped Locations 2,500 Target Leverage 1.5x Net Debt / EBITDA 2018 production plans…
Midstream NewCo Profile Dominant footprint on top of lowest cost natural gas basin in the U.S. Strong asset characteristics: C-Corp structure provides improved EQM 90% revenue from firm reservation capital market access and M&A…
Separation and Midstream Streamlining Timelines The midstream spin-off is expected to occur by the end of the third quarter. Midstream streamlining underway. Separation Timeline Key Milestones Start Date Anticipated Completion Date…
Non-GAAP Financial Measure Earnings Before Interest, Taxes, Depreciation and Amortization As used in this presentation, earnings before interest, taxes, depreciation and amortization (EBITDA) means the earnings before interest, taxes and…
Non-GAAP Financial Measure Free Cash Flow As used in this presentation, free cash flow is defined as EQTs net cash provided by operating activities plus changes in other assets and liabilities less capital expenditures pro forma for the…
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