Exhibit 99.1
ETRN and EQM Announce Shareholder and Limited Partner Approval of Merger
CANONSBURG, PA (June 15, 2020) — Equitrans Midstream Corporation (NYSE: ETRN) and EQM Midstream Partners, LP (NYSE: EQM) announced that, at a special meeting held earlier today, the shareholders of ETRN approved the issuance of shares of ETRN’s common stock and shares of ETRN’s preferred stock (collectively, ETRN stock issuance) in connection with ETRN’s proposed merger (Merger) with EQM. More than 99% of the total votes cast at ETRN’s special meeting were voted in favor of approving the ETRN stock issuance.
In addition, at a special meeting held earlier today, EQM’s limited partners voted to approve the merger agreement in connection with the Merger. The holders of more than 83% of EQM’s outstanding limited partner interests voted in favor of approving the merger agreement, and more than 99% of the total votes cast at the special meeting were voted in favor of approving the merger agreement.
The Merger is subject to customary closing conditions and is expected to close on June 17, 2020, at which time EQM’s common units will no longer be publicly traded on the New York Stock Exchange.
About Equitrans Midstream Corporation
Equitrans Midstream Corporation (ETRN) has a premier asset footprint in the Appalachian Basin and is one of the largest natural gas gatherers in the United States. With a rich135-year history in the energy industry, ETRN was launched as a standalone company in 2018 and, through its subsidiaries, has an operational focus on gas gathering systems, transmission and storage systems, and water services assets that support natural gas producers across the Basin. ETRN is helping to meet America’s growing need for clean-burning energy, while also providing a rewarding workplace and enriching the communities where its employees live and work. ETRN owns thenon-economic general partner interest and a majority ownership of the limited partner interest in EQM.
About EQM Midstream Partners
EQM Midstream Partners, LP (EQM) is a growth-oriented limited partnership formed to own, operate, acquire, and develop midstream assets in the Appalachian Basin. As one of the largest gatherers of natural gas in the United States, EQM provides midstream services to producers, utilities, and other customers through its strategically located natural gas transmission, storage, and gathering systems, and water services to support energy development and production in the Marcellus and Utica regions. EQM owns approximately 950 miles of FERC- regulated interstate pipelines and also owns and/or operates approximately 1,900 miles of high- andlow-pressure gathering lines.
Cautionary Statement Regarding Forward-Looking Information
Disclosures in this news release contain certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. Words such as “could,” “will,” “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” or “continue,” and similar expressions are used to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this release specifically include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of ETRN, EQM and their respective affiliates,
