EQT Midstream Partners Announces Public Offering of Common Units

  EQT Midstream Partners Announces Public Offering of Common Units

Business Wire

PITTSBURGH -- April 30, 2014

EQT Midstream Partners, LP (NYSE: EQM), an EQT Corporation company, announced
today the commencement, subject to market conditions, of an underwritten
public offering of 8,750,000 common units representing limited partner
interests. EQT Midstream Partners, LP (Partnership) also intends to grant the
underwriters a 30-day option to purchase up to an additional 1,312,500 common
units.

The Partnership intends to use the net proceeds from the offering to fund a
portion of the purchase price of the acquisition of the Jupiter natural gas
gathering system (Jupiter) from EQT Corporation.

The Partnership intends to use the net proceeds from the underwriters’
exercise of their option to purchase additional common units, if any,
including any proportionate capital contribution from the Partnership’s
general partner to maintain its 2% general partner interest in the
Partnership, for general partnership purposes.

Barclays, BofA Merrill Lynch, Citigroup, Wells Fargo Securities, Credit
Suisse,Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan andRBC
Capital Markets are acting as joint book-running managers for the offering.
When available, copies of the preliminary prospectus supplement, prospectus
supplement and accompanying base prospectus relating to the offering may be
obtained free of charge on the Securities and Exchange Commission’s website at
www.sec.gov or from the underwriters of the offering as follows:

                                       
Barclays
                                         BofA Merrill Lynch
c/o Broadridge Financial Solutions
                                         Attn: Prospectus Department
1155 Long Island Avenue
                                         222 Broadway
Edgewood, NY 11717
                                         New York, NY 10038
barclaysprospectus@broadridge.com
                                         Dg.prospectus_requests@baml.com
Telephone: 1-888-603-5847
                                         
                                         Wells Fargo Securities
Citigroup
                                         Attn: Equity Syndicate Dept.
c/o Broadridge Financial Solutions
                                         375 Park Avenue
1155 Long Island Avenue
                                         New York, NY 10152
Edgewood, NY 11717
                                         cmclientsupport@wellsfargo.com
Telephone: 1-888-831-9146
                                         Telephone: 1-800-326-5897
                                         
Credit Suisse                            Deutsche Bank Securities

Attn: Prospectus Department              Attn: Prospectus Group

One Madison Avenue                       60 Wall Street

New York, NY 10010                       New York, NY 1005-2836

Atnewyork.prospectus@credit-suisse.com   Prospectus.CPDG@db.com

Telephone: 1-800-221-1037                Telephone: 800-503-4611
                                         
Goldman, Sachs & Co.                     J.P. Morgan

Attn: Prospectus Department              c/o Broadridge Financial Solutions

200 West Street                          1155 Long Island Avenue

New York, NY 10282                       Edgewood, NY 11717

Telephone: 866-471-2526                  Telephone: 1-888-803-9204
                                         
RBC Capital Markets

Attn: Equity Syndicate

Three World Financial Center

200 Vesey Street, 8^th Floor

New York, NY 10281

Telephone: 877-822-4089
                                         

The common units will be offered and sold pursuant to an effective shelf
registration statement previously filed with the Securities and Exchange
Commission. This news release does not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction. The
offering is being made only by means of a prospectus and related prospectus
supplement meeting the requirements of Section 10 of the Securities Act of
1933, as amended.

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 its strategically located
transmission and storage system and gathering system. The Partnership owns 700
miles and operates an additional 200 miles of FERC-regulated interstate
pipelines and also owns more than 1,600 miles of FERC-regulated, low-pressure
gathering lines.

Cautionary Statements

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 of the
Partnership and its subsidiaries, including guidance regarding the number of
units to be sold in the offering and the Partnership’s expected use of
proceeds from the offering. 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 risks
discussed in the Partnership’s most recent Annual Report on Form 10-K,
Quarterly Report on Form 10-Q and other filings with the Securities and
Exchange Commission. 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
Analyst inquiries please contact:
Nate Tetlow – Investor Relations Manager, 412-553-5834
ntetlow@eqtmidstreampartners.com
or
Patrick Kane – Chief Investor Relations Officer, 412-553-7833
pkane@eqtmidstreampartners.com
or
Media inquiries please contact:
Natalie Cox – Corporate Director, Communications, 412-395-3941
ncox@eqtmidstreampartners.com
 
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