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EQT Midstream Partners to Provide Midstream Services to Range Resources



  EQT Midstream Partners to Provide Midstream Services to Range Resources

Business Wire

PITTSBURGH -- February 18, 2014

EQT Midstream Partners, LP (NYSE:EQM) today announced that it has entered into
definitive agreements with a subsidiary of Range Resources Corporation to
provide gathering, compression, and transmission services in eastern
Washington County, Pennsylvania.

In 2014, EQT Midstream Partners (the Partnership) will invest approximately
$30 million in gathering infrastructure and $25 million in a transmission
expansion project in conjunction with the agreements. The transmission
expansion will add approximately 100 BBtu per day of capacity to the
Partnership’s transmission system in southwestern Pennsylvania and is expected
to be in service by November 1, 2014. The agreements include a fee-based,
10-year minimum volume commitment for gathering and transmission services, and
provide Range with the opportunity to expand their capacity to 300 BBtu per
day and above. Range has a substantial acreage position in eastern Washington
County, Pennsylvania, and the Partnership anticipates many years of
development in the area.

Randy Crawford, Chief Operating Officer, stated, “We are pleased to provide
gathering, compression, and transmission services to Range Resources, a
leading Marcellus producer. Our strong infrastructure footprint in
southwestern Pennsylvania is uniquely situated to offer producers the
flexibility they require to connect to multiple markets and demand outlets."
Crawford continued, "We are poised to benefit from growing demand for pipeline
infrastructure throughout the Marcellus region."

The Partnership now forecasts total capital expenditures to be approximately
$135 - $140 million in 2014. This includes approximately $105 - $110 million
of expansion capital expenditures. The Partnership now expects to increase its
transmission capacity by 750 BBtu per day in 2014, which will bring the total
transmission capacity to 3.0 TBtu per day.

About EQT Midstream Partners:

EQT Midstream Partners, LP is a growth-oriented limited partnership formed by
EQT Corporation to own, operate, acquire and develop midstream assets in the
Appalachian basin. The Partnership provides midstream services to EQT
Corporation and third-party companies through two primary assets: the
Transmission and Storage System and a Gathering System. The Partnership owns
700 miles, and operates an additional 200 miles, of FERC-regulated interstate
pipelines; and owns more than 1,600 miles of FERC-regulated, low-pressure
gathering lines.

Visit EQT Midstream Partners, LP at www.eqtmidstreampartners.com

About Range Resources Corporation:

Range Resources is a leading independent oil and natural gas producer with
operations focused in Appalachia and the southwest region of the United
States. The Company pursues an organic growth strategy targeting high return,
low-cost projects within its large inventory of low risk, development drilling
opportunities. The Company is headquartered in Fort Worth, Texas. More
information about Range can be found at www.rangeresources.com and
www.myrangeresources.com.

Cautionary Statements

The Partnership's capital expenditure forecast does not include capital
expenditures for potential midstream infrastructure projects not committed at
this date.

Disclosures in this news release contain certain forward-looking statements.
Statements that do not relate strictly to historical or current facts are
forward-looking. Without limiting the generality of the foregoing,
forward-looking statements contained in this news release specifically include
the expectations of plans, strategies, objectives and growth and anticipated
financial and operational performance of the Partnership and its subsidiaries,
including guidance regarding the Partnership's projected capital expenditures;
capital budget; infrastructure programs (including the timing, cost, and
capacity resulting from such projects); demand for midstream infrastructure
and future development in the Marcellus play. These statements involve risks
and uncertainties that could cause actual results to differ materially from
projected results. Accordingly, investors should not place undue reliance on
forward-looking statements as a prediction of actual results. The Partnership
has based these forward-looking statements on current expectations and
assumptions about future events. While the Partnership considers these
expectations and assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory and other risks and
uncertainties, most of which are difficult to predict and many of which are
beyond the Partnership's control. The risks and uncertainties that may affect
the operations, performance and results of the Partnership's business and
forward-looking statements include, but are not limited to, those set forth
under Item 1A, "Risk Factors" of the Partnership's Form 10-K for the year
ended December 31, 2012, and in the Partnership’s Form 10-K for the year ended
December 31, 2013, to be filed with the securities and exchange commission, as
updated by any subsequent filed 10-Qs. Any forward-looking statement speaks
only as of the date on which such statement is made and the Partnership does
not intend to correct or update any forward-looking statement, whether as a
result of new information, future events or otherwise.

Contact:

EQT Midstream Partners, LP
Analyst inquiries:
Nate Tetlow, 412-553-5834
Investor Relations Manager
ntetlow@eqtmidstreampartners.com
or
Patrick Kane, 412-553-7833
Chief Investor Relations Officer
pkane@eqtmidstreampartners.com
or
Media inquiries:
Natalie Cox, 412-395-3941
Corporate Director, Communications
ncox@eqtmidstreampartners.com
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