The story
In November 2018, EQT Corporation split into two companies. Equitrans Midstream, a stand-alone corporation, retained EQT's assets, and remained engaged in the midstream gathering and transportation of natural gas and natural gas liquids. EQT Corporation remained involved only in gas exploration and production. EQT retained a 19.9 percent interest in Equitrans Midstream, (since reduced to 5.3% in 2022) and was awarded a general partner interest in EOGP Holdings LP, a company formed in 2015 to hold a general interest partnership in EQM Midstream Partners LP. Equitrans Midstream also retained a small limited partner interest in EQM Midstream Partners.
EQT Corporation also spun off EQM Midstream Partners, a company with the mission of acquiring midstream assets in the Appalachian Basin. Equitrans Midstream acquired EQM Midstream Partners in a share-for-share merger worth ($2,239,300,000 in 2025 dollars). The merger was finalized in June 2020.
As of October 2021, Equitrans Midstream was the largest natural gas producer in North America.
In March 2023, EQT announced it would acquire Equitrans Midstream in all-stock deal worth $5.5 billion, or about $14 billion including debt, with the intention to create a vertically integrated natural-gas provider. The acquisition was completed in July 2024.
From Wikipedia’s article on Equitrans Midstream, shared under CC BY-SA 4.0.3