EQM Midstream Partners 10-Q 26 Jul 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2018shares
Entity Information [Line Items]
Entity Registrant Name	EQT Midstream Partners, LP
Entity Central Index Key	1,540,947
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End	--12-31
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Common Units
Entity Information [Line Items]
Entity Common Units, Unit Outstanding	86,480,648
General Partner Units
Entity Information [Line Items]
Entity Common Units, Unit Outstanding	1,443,015

Statements of Consolidated Oper

Statements of Consolidated Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018		Jun. 30, 2017
Income Statement [Abstract]
Operating revenues	[1],[2]	$ 269,761	$ 196,815	$ 556,323		$ 396,887
Operating expenses:
Operating and maintenance	[1],[3]	24,587	18,315	44,047		35,132
Selling, general and administrative	[1],[3]	24,438	15,812	43,436		33,212
Depreciation	[1]	28,076	21,400	55,461	[4]	41,947	[4]
Amortization of intangible assets	[1]	10,387	0	20,773	[4]	0	[4]
Total operating expenses	[1]	87,488	55,527	163,717		110,291
Operating income	[1]	182,273	141,288	392,606		286,596
Equity income	[1],[5]	10,938	5,111	19,749	[4]	9,388	[4]
Other income	[1]	944	1,402	1,842		2,939
Net interest expense	[1],[6]	20,683	8,662	31,399		16,588
Net income	[1]	173,472	139,139	382,798	[4],[7]	282,335	[4],[7]
Net income attributable to noncontrolling interests	[1]	853	0	3,346		0
Net income attributable to EQM	[1]	172,619	139,139	379,452		282,335
Calculation of limited partner interest in net income:
Net income attributable to EQM	[1]	172,619	139,139	379,452		282,335
Less pre-acquisition net income allocated to parent	[1]	(11,407)	0	(41,022)		0
Less general partner interest in net income – general partner units	[1]	(1,700)	(2,448)	(4,791)		(4,967)
Less general partner interest in net income – IDRs	[1]	(68,121)	(34,150)	(112,285)		(64,836)
Limited partner interest in net income	[1]	$ 91,391	$ 102,541	$ 221,354		$ 212,532
Net income per limited partner unit – basic and diluted (in dollars per share)	[1]	$ 1.09	$ 1.27	$ 2.69		$ 2.64
Weighted average limited partner units outstanding – basic and diluted (in shares)	[1]	83,553	80,603	82,290		80,602
Cash distributions declared per unit (in dollars per share)	[8]	$ 1.09	$ 0.935	$ 2.155	[1]	$ 1.825	[1]
[1]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of Rice Olympus Midstream LLC (ROM), Strike Force Midstream Holdings LLC (Strike Force) and Rice West Virginia Midstream LLC (Rice WV), which were acquired by EQM effective on May 1, 2018 (the May 2018 Acquisition), because this transaction was between entities under common control.
[2]	Operating revenues included affiliate revenues from EQT Corporation and subsidiaries (collectively, EQT) of $180.4 million and $148.2 million for the three months ended June 30, 2018 and 2017, respectively, and $361.6 million and $291.6 million for six months ended June 30, 2018 and 2017, respectively. See Note F.
[3]	Operating and maintenance expense included charges from EQT of $11.3 million and $9.3 million for the three months ended June 30, 2018 and 2017, respectively, and $21.8 million and $19.2 million for the six months ended June 30, 2018 and 2017, respectively. Selling, general and administrative expense included charges from EQT of $19.0 million and $15.2 million for the three months ended June 30, 2018 and 2017, respectively, and $36.6 million and $31.6 million for the six months ended June 30, 2018 and 2017, respectively. See Note F.
[4]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[5]	Represents equity income from Mountain Valley Pipeline, LLC (the MVP Joint Venture). See Note G.
[6]	Net interest expense included interest income on the Preferred Interest in EES of $1.7 million and $1.7 million for the three months ended June 30, 2018 and 2017, respectively, and $3.3 million and $3.4 million for the six months ended June 30, 2018 and 2017, respectively.
[7]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[8]	Represents the cash distributions declared related to the period presented. See Note J.

Statements of Consolidated Ope3

Statements of Consolidated Operations (Unaudited) (Parenthetical) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Operating and maintenance	[1],[2]	$ 24,587	$ 18,315	$ 44,047	$ 35,132
Selling, general and administrative expenses	[1],[2]	24,438	15,812	43,436	33,212
EES
Interest income		1,700	1,700	3,300	3,400
EQT
Operating revenues		180,400	148,200	361,600	291,600
Operating and maintenance		11,300	9,300	21,800	19,200
Selling, general and administrative expenses		$ 19,000	$ 15,200	$ 36,600	$ 31,600
[1]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of Rice Olympus Midstream LLC (ROM), Strike Force Midstream Holdings LLC (Strike Force) and Rice West Virginia Midstream LLC (Rice WV), which were acquired by EQM effective on May 1, 2018 (the May 2018 Acquisition), because this transaction was between entities under common control.
[2]	Operating and maintenance expense included charges from EQT of $11.3 million and $9.3 million for the three months ended June 30, 2018 and 2017, respectively, and $21.8 million and $19.2 million for the six months ended June 30, 2018 and 2017, respectively. Selling, general and administrative expense included charges from EQT of $19.0 million and $15.2 million for the three months ended June 30, 2018 and 2017, respectively, and $36.6 million and $31.6 million for the six months ended June 30, 2018 and 2017, respectively. See Note F.

Statements of Consolidated Cash

Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2018		Jun. 30, 2017
Statement of Cash Flows [Abstract]
Net income	[1],[2],[3]	$ 382,798		$ 282,335
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	[1],[2]	55,461		41,947
Amortization of intangible assets	[1],[2]	20,773		0
Equity income	[1],[2],[4]	(19,749)		(9,388)
AFUDC – equity	[2]	(2,137)		(3,297)
Non-cash long-term compensation expense	[2]	331		225
Changes in other assets and liabilities:
Accounts receivable	[2]	718		(599)
Accounts payable	[2]	8,019		2,426
Due to/from EQT affiliates	[2]	(11,210)		1,410
Other assets and other liabilities	[2]	6,642		5,246
Net cash provided by operating activities	[2]	441,646		320,305
Cash flows from investing activities:
Capital expenditures	[2]	(302,876)		(149,413)
Capital contributions to the MVP Joint Venture	[2]	(182,805)		(59,940)
May 2018 Acquisition from EQT	[1]	(1,193,160)		0
Principal payments received on the Preferred Interest	[2]	2,172		2,054
Net cash used in investing activities	[2]	(1,676,669)		(207,299)
Cash flows from financing activities:
Proceeds from credit facility borrowings	[2]	2,000,500		150,000
Payments on credit facility borrowings	[2]	(2,180,500)		(110,000)
Proceeds from issuance of long-term debt	[2]	2,500,000		0
Debt discount and issuance costs	[1]	(30,295)		0
Distributions paid to unitholders	[2]	(258,211)		(202,060)
Distributions to noncontrolling interest	[2]	(750)		0
Acquisition of 25% of Strike Force Midstream LLC	[2]	(175,000)		0
Capital contributions	[2]	15,672		216
Net contributions from EQT	[1]	3,660		0
Net cash provided by (used in) financing activities	[2]	1,875,076		(161,844)
Net change in cash and cash equivalents	[2]	640,053		(48,838)
Cash and cash equivalents at beginning of period	[2]	44,062	[5]	60,368
Cash and cash equivalents at end of period	[2]	684,115	[5]	11,530
Cash paid during the period for:
Interest, net of amount capitalized	[2]	29,961		20,996
Non-cash activity during the period for:
(Decrease) increase in capital contribution receivable from EQT	[2]	$ (12,251)		$ 758
[1]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of Rice Olympus Midstream LLC (ROM), Strike Force Midstream Holdings LLC (Strike Force) and Rice West Virginia Midstream LLC (Rice WV), which were acquired by EQM effective on May 1, 2018 (the May 2018 Acquisition), because this transaction was between entities under common control.
[2]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[3]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[4]	Represents equity income from Mountain Valley Pipeline, LLC (the MVP Joint Venture). See Note G.
[5]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	[1],[2]	$ 684,115	$ 44,062
Accounts receivable (net of allowance for doubtful accounts of $1,400 and $446 as of June 30, 2018 and December 31, 2017, respectively)	[2]	47,587	48,305
Accounts receivable – affiliate	[2]	119,097	110,292
Other current assets	[2]	14,085	12,754
Total current assets	[2]	864,884	215,413
Property, plant and equipment	[2]	4,363,068	4,077,282
Less: accumulated depreciation	[2]	(440,924)	(398,245)
Net property, plant and equipment	[2]	3,922,144	3,679,037
Investment in unconsolidated entity	[2]	1,003,299	460,546
Goodwill	[2]	37,954	37,954
Intangible assets, net	[2]	596,887	617,660
Other assets	[2]	137,257	136,966
Total assets	[2]	6,562,425	5,147,576
Current liabilities:
Accounts payable	[2]	84,969	80,637
Due to related party	[2]	41,519	31,673
Capital contribution payable to MVP Joint Venture	[2]	445,933	105,734
Accrued interest	[2]	12,309	10,926
Accrued liabilities	[2]	25,144	16,936
Total current liabilities	[2]	609,874	245,906
Credit facility borrowings	[2]	0	180,000
Senior notes	[2]	3,453,975	987,352
Regulatory and other long-term liabilities	[2]	21,442	20,273
Total liabilities	[2]	4,085,291	1,433,531
Equity:
Predecessor equity	[2]	0	1,391,615
Noncontrolling interest	[2]	0	173,472
Common (86,480,648 and 80,581,758 units issued and outstanding at June 30, 2018 and December 31, 2017, respectively)	[2]	2,448,531	2,147,706
General partner (1,443,015 units issued and outstanding at June 30, 2018 and December 31, 2017)	[2]	28,603	1,252
Total equity	[2],[3]	2,477,134	3,714,045
Total liabilities and equity	[2]	$ 6,562,425	$ 5,147,576
[1]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[2]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[3]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.

Consolidated Balance Sheets (U6

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Accounts receivable, for doubtful accounts	$ 1,400	$ 446
Common units issued (in shares)	86,480,648	80,581,758
Common units outstanding (in shares)	86,480,648	80,581,758
General partner interest, units issued (in shares)	1,443,015	1,443,015
General partner interest, units outstanding (in shares)	1,443,015	1,443,015

Statements of Consolidated Equi

Statements of Consolidated Equity (Unaudited) - USD ($) $ in Thousands		Total		Limited Partners Common	General Partner	Predecessor Equity		Noncontrolling Interest
Beginning balance at Dec. 31, 2016	[1]	$ 1,993,554		$ 2,008,510	$ (14,956)	$ 0		$ 0
Increase (Decrease) in Partners' Capital
Net income	[1]	282,335	[2],[3]	212,532	69,803	0
Capital contributions	[1]	974		956	18
Equity-based compensation plans	[1]	225		225
Distributions paid to unitholders	[1]	(202,060)		(140,212)	(61,848)
Ending balance at Jun. 30, 2017	[1]	2,075,028		2,082,011	(6,983)	0		0
Beginning balance at Dec. 31, 2017	[1]	3,714,045	[4]	2,147,706	1,252	1,391,615		173,472
Increase (Decrease) in Partners' Capital
Net income	[1]	382,798	[2],[3]	221,354	117,076	41,022		3,346
Capital contributions	[1]	3,421		3,361	60
Equity-based compensation plans	[1]	331		331
Distributions paid to unitholders	[1]	(258,211)		(168,426)	(89,785)
Net contributions from EQT		3,660				3,660	[1]
Distributions to noncontrolling interests	[1]	(750)						(750)
Acquisition of 25% of Strike Force Midstream LLC	[1]	(175,000)		1,068				(176,068)
May 2018 Acquisition from EQT	[1],[5]	(1,193,160)		243,137		(1,436,297)
Ending balance at Jun. 30, 2018	[1]	$ 2,477,134	[4]	$ 2,448,531	$ 28,603	$ 0		$ 0
[1]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[2]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of Rice Olympus Midstream LLC (ROM), Strike Force Midstream Holdings LLC (Strike Force) and Rice West Virginia Midstream LLC (Rice WV), which were acquired by EQM effective on May 1, 2018 (the May 2018 Acquisition), because this transaction was between entities under common control.
[3]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[4]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[5]	Under common control accounting, any difference between consideration transferred and the net assets received at historical cost is recorded as an equity transaction. In addition, equity issued in a common control transaction is recorded at an amount equal to the carrying value of the net assets transferred, even if the equity issued has a readily determinable fair value. As a result, the EQM common units issued in the May 2018 Acquisition are valued at the excess of the net assets received by EQM over the cash consideration.

Statements of Consolidated Equ8

Statements of Consolidated Equity (Unaudited) (Parenthetical)	May 01, 2018
Strike Force Midstream
Percentage of voting interests acquired	25.00%

Financial Statements

Financial Statements	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statements	Financial Statements Organization and Basis of Presentation EQM is a growth-oriented Delaware limited partnership. EQT Midstream Services, LLC (EQM General Partner) is a direct wholly owned subsidiary of EQT GP Holdings, LP (EQGP) and is the general partner of EQM. The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these unaudited consolidated financial statements include all adjustments (consisting of only normal recurring adjustments, unless otherwise disclosed in this Form 10-Q) necessary for a fair presentation of the financial position of EQM as of June 30, 2018 and December 31, 2017 , the results of its operations for the three and six months ended June 30, 2018 and 2017 , and its cash flows and equity for the six months ended June 30, 2018 and 2017 . Certain previously reported amounts have been reclassified to conform to the current year presentation. The balance sheet at December 31, 2017 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. EQM's consolidated financial statements have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control. The recast is for the period the acquired businesses were under the common control of EQT, which began on November 13, 2017 as a result of EQT's merger with Rice Energy Inc. (Rice) (the Rice Merger). EQM recorded the assets and liabilities acquired in the May 2018 Acquisition at their carrying amounts to EQT on the effective date of the transaction. The consolidated financial statements are not necessarily indicative of the actual results of operations if EQM and the assets acquired in the May 2018 Acquisition been operated together during the pre-acquisition periods. Due to the seasonal nature of EQM's utility customer contracts, the interim statements for the three and six months ended June 30, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . For further information, refer to the consolidated financial statements and related footnotes for the year ended December 31, 2017 and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in each case as included in EQM's Current Report on Form 8-K as filed with the SEC on June 12, 2018. Recently Issued Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers . The standard requires an entity to recognize revenue in a manner that depicts the transfer of goods or services to customers at an amount that reflects the consideration the entity expects in exchange for those goods or services. EQM adopted this standard on January 1, 2018 using the modified retrospective method of adoption. Adoption of the ASU did not require an adjustment to the opening balance of equity. EQM does not expect the standard to have a significant effect on its results of operations, liquidity or financial position. EQM implemented processes and controls to ensure new contracts are reviewed for the appropriate accounting treatment and to generate the disclosures required under the new standard in the first quarter of 2018. For the disclosures required by this ASU, see Note C. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . The standard primarily affects accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments, and eliminates the cost method of accounting for equity investments. EQM adopted this standard in the first quarter of 2018 with no significant effect on its financial statements or related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases . The standard requires an entity to record assets and obligations for contracts currently recognized as operating leases. Lessees and lessors must apply a modified retrospective transition approach. The ASU will be effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early adoption permitted. EQM has performed a high-level identification of agreements covered by this standard, is currently evaluating processes and internal controls and is in the process of implementing a third-party supported lease accounting information system to facilitate the accounting and financial reporting requirements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. This ASU amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For assets held at amortized cost basis, this ASU eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The ASU will be effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period. EQM is currently evaluating the effect this standard will have on its financial statements and related disclosures. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test of Goodwill Impairment . ASU 2017-04 simplifies the quantitative goodwill impairment test requirements by eliminating the requirement to calculate the implied fair value of goodwill (Step 2 of the current goodwill impairment test). Instead, a company would record an impairment charge based on the excess of a reporting unit’s carrying value over its fair value (measured in Step 1 of the current goodwill impairment test). Entities will apply the standard’s provisions prospectively. EQM adopted this standard in the first quarter of 2018 with no significant effect on its financial statements or related disclosures.

Acquisitions and Merger

Acquisitions and Merger	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Acquisitions and Merger	Acquisitions and Merger May 2018 Acquisition On April 25, 2018, EQT, Rice Midstream Holdings LLC, a wholly owned subsidiary of EQT, EQM and EQM Gathering Holdings, LLC (EQM Gathering), a wholly owned subsidiary of EQM, entered into a Contribution and Sale Agreement pursuant to which EQM Gathering acquired from EQT all of EQT's interests in ROM, Strike Force and Rice WV in exchange for an aggregate of 5,889,282 EQM common units and aggregate cash consideration of $1.15 billion , plus working capital adjustments. ROM owns a natural gas gathering system that gathers gas from wells located primarily in Belmont County, Ohio. Strike Force owns a 75% limited liability company interest in Strike Force Midstream LLC (Strike Force Midstream). The May 2018 Acquisition closed on May 22, 2018 with an effective date of May 1, 2018 . As a result of the recast, EQM recognized approximately $38.0 million of goodwill. The goodwill value was based on a valuation performed by EQT as of November 13, 2017 with regard to the Rice Merger. EQT recorded goodwill as the excess of the estimated enterprise value of ROM, Strike Force and Rice WV over the sum of the fair value amounts allocated to the assets and liabilities of ROM, Strike Force and Rice WV. Goodwill was allocated to the value attributed to additional growth opportunities, synergies and operating leverage within the Gathering segment. Prior to the recast, EQM had no goodwill. The following table summarizes the allocation of the fair value of the assets and liabilities of ROM, Strike Force and Rice WV as of November 13, 2017 through pushdown accounting from EQT. The preliminary allocation to certain assets and/or liabilities may be adjusted by material amounts as EQT continues to finalize the fair value estimates. At November 13, 2017 (Thousands) Estimated fair value of ROM, Strike Force and Rice WV (1) $ 1,514,743 Estimated Fair Value of Assets Acquired and Liabilities Assumed: Current assets (2) 66,586 Intangible assets (3) 623,200 Property and equipment, net (4) 846,823 Other non-current assets 71 Current liabilities (2) (59,891 ) Total estimated fair value of assets acquired and liabilities assumed $ 1,476,789 Goodwill 37,954 (1) Includes the estimated fair value attributable to noncontrolling interest of $166 million . (2) The fair value of current assets and current liabilities were assumed to approximate their carrying values. (3) The identifiable intangible assets for customer relationships were estimated by applying a discounted cash flow approach which was adjusted for customer attrition assumptions and projected market conditions. (4) The estimated fair value of long-lived property and equipment were determined utilizing estimated replacement cost adjusted for a usage or obsolescence factor. As a result of the recast, EQM also recognized approximately $623.2 million in intangible assets. These intangible assets were valued by EQT based upon the estimated fair value of the customer contracts as of November 13, 2017. The customer contracts were assigned a useful life of 15 years and are amortized on a straight-line basis. Amortization expense for the three and six months ended June 30, 2018 was $10.4 million and $20.8 million , respectively. As of June 30, 2018 and December 31, 2017, accumulated amortization was $26.3 million and $5.5 million , respectively. There was no amortization expense recognized for the three and six months ended June 30, 2017. The estimated annual amortization expense over the next five years is $41.5 million . Gulfport Transaction On May 1, 2018, pursuant to the Purchase and Sale Agreement dated April 25, 2018, by and among EQM, EQM Gathering, Gulfport Energy Corporation (Gulfport) and an affiliate of Gulfport, EQM Gathering acquired the remaining 25% limited liability company interest in Strike Force Midstream not owned by Strike Force for $175 million (the Gulfport Transaction). As a result, EQM owned 100% of Strike Force Midstream effective as of May 1, 2018. EQM-RMP Merger On April 25, 2018, EQM entered into an Agreement and Plan of Merger (the Merger Agreement) with Rice Midstream Partners LP (RMP), Rice Midstream Management LLC, the general partner of RMP (the RMP General Partner), the EQM General Partner, EQM Acquisition Sub, LLC, a wholly owned subsidiary of EQM (Merger Sub), EQM GP Acquisition Sub, LLC, a wholly owned subsidiary of EQM (GP Merger Sub), and, solely for certain limited purposes set forth therein, EQT. Pursuant to the Merger Agreement, on July 23, 2018, Merger Sub and GP Merger Sub merged with and into RMP and the RMP General Partner, respectively, with RMP and the RMP General Partner surviving as wholly owned subsidiaries of EQM (the EQM-RMP Merger). Pursuant to the Merger Agreement, each RMP common unit issued and outstanding immediately prior to the effective time of the EQM-RMP Merger was converted into the right to receive 0.3319 EQM common units (the Merger Consideration), the issued and outstanding incentive distributions rights of RMP were canceled and each outstanding award of phantom units in respect of RMP common units fully vested and converted into the right to receive the Merger Consideration, less applicable tax withholding, in respect of each RMP common unit subject thereto. The aggregate Merger Consideration consisted of approximately 34 million EQM common units. As a result of the EQM-RMP Merger, RMP's common units are no longer publicly traded. Also in connection with the completion of the EQM-RMP Merger, on July 23, 2018, EQM repaid the approximately $260 million of borrowings outstanding under the Credit Agreement, dated as of December 22, 2014, by and among RMP, as parent guarantor, Rice Midstream OpCo LLC, a wholly owned subsidiary of RMP, as borrower, Wells Fargo Bank, N.A., as administrative agent, and the lenders and other parties from time to time party thereto (the RMP Credit Agreement), and the RMP Credit Agreement was terminated.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers As discussed in Note A, EQM adopted ASU No. 2014-09, Revenue from Contracts with Customers , on January 1, 2018 using the modified retrospective method of adoption. EQM applied the ASU to all open contracts as of the date of initial application. Adoption of the ASU did not require an adjustment to the opening balance of equity and did not materially change EQM's amount and timing of revenues. EQM provides gathering, transmission and storage services in two manners: firm service and interruptible service. Firm service contracts are typically long term and include firm reservation fees, which are fixed, monthly charges for the guaranteed reservation of pipeline or storage capacity. Volumetric based fees under firm contracts include usage fees and charges for actual volumes transported, gathered or stored in excess of the firm contracted volume. Interruptible service contracts include volumetric based fees, which are charges for the volume of gas actually gathered, transported or stored and do not guarantee access to the pipeline or storage facility. These contracts can be short or long term. Firm and interruptible contracts are billed at the end of each calendar month, with payment typically due within 21 days. Under a firm contract, EQM has a stand-ready obligation to provide the service over the life of the contract. The performance obligation for firm reservation fee revenue is satisfied over time as the pipeline capacity is made available to the customer. As such, EQM recognizes firm reservation fee revenue evenly over the contract period, using a time-elapsed output method to measure progress. The performance obligation for volumetric based fee revenues for usage fees under firm and interruptible contracts is generally satisfied upon EQM's monthly billing to the customer for actual volumes gathered, transported or stored during the month. The amount billed corresponds directly to the value of EQM's performance to date as the customer obtains value as each volume is gathered, transported or stored. Certain of EQM's gas gathering agreements are structured with minimum volume commitments (MVC), which specify minimum quantities for which a customer will be charged regardless of actual quantities gathered under the contract. Revenue is recognized for MVCs when the performance obligation has been met, which is the earlier of when the gas is gathered or when it is remote that the producer will be able to meet its MVC. For the three and six months ended June 30, 2018 and 2017 , all revenues recognized on EQM's statements of consolidated operations are from contracts with customers. As of June 30, 2018 and December 31, 2017 , all receivables recorded on EQM's consolidated balance sheets represent performance obligations that have been satisfied and for which an unconditional right to consideration exists. The table below provides disaggregated revenue information by EQM business segment for the three and six months ended June 30, 2018 . Three Months Ended June 30, 2018 Gathering Transmission Total (Thousands) Firm reservation fee revenues $ 111,702 $ 82,222 $ 193,924 Volumetric based fee revenues: Usage fees under firm contracts (1) 9,956 4,828 14,784 Usage fees under interruptible contracts (2) 58,958 2,095 61,053 Total volumetric based fee revenues 68,914 6,923 75,837 Total operating revenues $ 180,616 $ 89,145 $ 269,761 Six Months Ended June 30, 2018 Gathering Transmission Total (Thousands) Firm reservation fee revenues $ 221,635 $ 179,997 $ 401,632 Volumetric based fee revenues: Usage fees under firm contracts (1) 22,064 8,650 30,714 Usage fees under interruptible contracts (2) 116,545 7,432 123,977 Total volumetric based fee revenues 138,609 16,082 154,691 Total operating revenues $ 360,244 $ 196,079 $ 556,323 (1) Includes fees on volumes gathered and transported in excess of firm contracted capacity and also for transmission includes commodity charges and fees on all volumes transported under firm contracts. (2) Includes volumes from contracts under which EQM has agreed to hold capacity available but for which it does not receive a capacity reservation fee. Based on total projected contractual revenues and including contracts associated with expected future capacity from expansion projects that are not yet fully constructed but for which EQM has entered into firm contracts, EQM's firm gathering contracts and firm transmission and storage contracts had weighted average remaining terms of approximately 8 and 15 years, respectively, as of December 31, 2017 . The following table summarizes the transaction price allocated to EQM's remaining performance obligations under all contracts with firm reservation fees and MVCs as of June 30, 2018 . 2018 2019 2020 2021 2022 Thereafter Total (Thousands) Gathering firm reservation fees $ 223,806 $ 471,226 $ 547,153 $ 557,152 $ 557,152 $ 2,841,279 $ 5,197,768 Gathering revenues supported by MVCs — 65,700 71,370 71,175 71,175 136,875 416,295 Transmission firm reservation fees 179,786 347,061 347,261 341,769 338,010 2,602,572 4,156,459 Total $ 403,592 $ 883,987 $ 965,784 $ 970,096 $ 966,337 $ 5,580,726 $ 9,770,522

Equity and Net Income per Limit

Equity and Net Income per Limited Partner Unit	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Equity and Net Income per Limited Partner Unit	Equity and Net Income per Limited Partner Unit The following table summarizes EQM's limited partner common units and general partner units issued from January 1, 2018 through June 30, 2018 . There were no issuances in 2017 . Limited Partner Common Units General Partner Units Total Balance at January 1, 2018 80,581,758 1,443,015 82,024,773 Common units issued (1) 9,608 — 9,608 May 2018 Acquisition consideration 5,889,282 — 5,889,282 Balance at June 30, 2018 86,480,648 1,443,015 87,923,663 (1) Units issued upon a resignation from the EQM General Partner's Board of Directors in February 2018. As of June 30, 2018 , EQGP owned 21,811,643 EQM common units, representing a 24.8% limited partner interest, 1,443,015 EQM general partner units, representing a 1.6% general partner interest, and all of the IDRs in EQM. As of June 30, 2018 , EQT owned 5,889,282 EQM common units, representing a 6.7% limited partner interest in EQM, 100% of the non-economic general partner interest in EQGP and a 91.3% limited partner interest in EQGP. As a result of the EQM-RMP Merger, on July 23, 2018, an indirect wholly owned subsidiary of EQT received 9,544,530 EQM common units as Merger Consideration. Net Income per Limited Partner Unit. Net income attributable to the May 2018 Acquisition for the periods prior to May 1, 2018, was not allocated to the limited partners for purposes of calculating net income per limited partner unit as these pre-acquisition amounts were not available to the unitholders. The weighted average phantom unit awards included in the calculation of basic weighted average limited partner units outstanding was 17,369 and 21,041 for the three months ended June 30, 2018 and 2017 , respectively, and 20,467 and 20,506 for the six months ended June 30, 2018 and 2017 , respectively. Distributions On July 24, 2018 , the Board of Directors of the EQM General Partner declared a cash distribution to EQM's unitholders for the second quarter of 2018 of $1.09 per common unit. The cash distribution will be paid on August 14, 2018 to unitholders of record at the close of business on August 3, 2018 . Based on the EQM common units outstanding on July 26, 2018 , cash distributions to EQGP will be approximately $23.8 million related to its limited partner interest, $2.4 million related to its general partner interest and $68.1 million related to its IDRs in EQM. The distribution amounts to EQGP related to its general partner interest and IDRs in EQM are subject to change if EQM issues additional common units on or prior to the record date for the second quarter 2018 distribution.

Financial Information by Busine

Financial Information by Business Segment	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Financial Information by Business Segment	Financial Information by Business Segment Three Months Ended Six Months Ended 2018 2017 2018 2017 (Thousands) Revenues from external customers (including affiliates): Gathering $ 180,616 $ 112,145 $ 360,244 $ 214,474 Transmission 89,145 84,670 196,079 182,413 Total operating revenues $ 269,761 $ 196,815 $ 556,323 $ 396,887 Operating income: Gathering $ 121,631 $ 83,425 $ 252,513 $ 157,129 Transmission 60,642 57,863 140,093 129,467 Total operating income $ 182,273 $ 141,288 $ 392,606 $ 286,596 Reconciliation of operating income to net income: Equity income (1) 10,938 5,111 19,749 9,388 Other income 944 1,402 1,842 2,939 Net interest expense 20,683 8,662 31,399 16,588 Net income $ 173,472 $ 139,139 $ 382,798 $ 282,335 (1) Equity income is included in the Transmission segment. June 30, December 31, (Thousands) Segment assets: Gathering $ 3,250,242 $ 3,020,491 Transmission (1) 2,505,947 1,948,047 Total operating segments 5,756,189 4,968,538 Headquarters, including cash 806,236 179,038 Total assets $ 6,562,425 $ 5,147,576 (1) The equity investment in the MVP Joint Venture was included in the headquarters segment prior to June 30, 2018. As of June 30, 2018, the investment in the MVP Joint Venture was included in the Transmission segment and the amount at December 31, 2017 has been recast to confirm with this presentation. Three Months Ended Six Months Ended 2018 2017 2018 2017 (Thousands) Depreciation: Gathering $ 15,646 $ 9,555 $ 30,590 $ 18,415 Transmission 12,430 11,845 24,871 23,532 Total $ 28,076 $ 21,400 $ 55,461 $ 41,947 Expenditures for segment assets: Gathering $ 139,099 $ 53,708 $ 252,297 $ 102,546 Transmission 27,962 29,978 46,891 51,367 Total (1) $ 167,061 $ 83,686 $ 299,188 $ 153,913 (1) EQM accrues capital expenditures when work has been completed but the associated bills have not yet been paid. These accrued amounts are excluded from capital expenditures in the statements of consolidated cash flows until they are paid in a subsequent period. Accrued capital expenditures were approximately $62.3 million , $60.3 million and $66.0 million at June 30, 2018 , March 31, 2018 and December 31, 2017 , respectively. Accrued capital expenditures were approximately $31.2 million , $34.0 million and $26.7 million at June 30, 2017 , March 31, 2017 and December 31, 2016 , respectively.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In the ordinary course of business, EQM engages in transactions with EQT and its affiliates including, but not limited to, gas gathering agreements, transportation service and precedent agreements and storage agreements. Pursuant to an omnibus agreement, EQT performs centralized corporate, general and administrative services for EQM and provides a license for the use of the name "EQT" and related marks in connection with EQM's business. In exchange, EQM reimburses EQT for the expenses incurred by EQT in providing these services. The omnibus agreement also provides for certain indemnification obligations between EQM and EQT. Pursuant to a secondment agreement, employees of EQT and its affiliates may be seconded to EQM to provide operating and other services with respect to EQM's business under the direction, supervision and control of EQM. EQM reimburses EQT and its affiliates for the services provided by the seconded employees. The expenses for which EQM reimburses EQT and its affiliates may not necessarily reflect the actual expenses that EQM would incur on a stand-alone basis. EQM is unable to estimate what those expenses would be on a stand-alone basis.

Investment in Unconsolidated En

Investment in Unconsolidated Entity	6 Months Ended
	Jun. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Entity	Investment in Unconsolidated Entity The MVP Joint Venture is constructing the Mountain Valley Pipeline (MVP), an estimated 300 -mile natural gas interstate pipeline spanning from northern West Virginia to southern Virginia. EQM is the operator of the MVP and owned a 45.5% interest in the MVP Joint Venture as of June 30, 2018 . The MVP Joint Venture is a variable interest entity because it has insufficient equity to finance its activities during the construction stage of the project. EQM is not the primary beneficiary because it does not have the power to direct the activities of the MVP Joint Venture that most significantly impact its economic performance. Certain business decisions require the approval of owners holding more than a 66 2/3% interest in the MVP Joint Venture and no one member owns more than a 66 2/3% interest. The MVP Joint Venture is an equity method investment for accounting purposes as EQM has the ability to exercise significant influence over operating and financial policies of the MVP Joint Venture. In May 2018 , the MVP Joint Venture issued a capital call notice to MVP Holdco, LLC (MVP Holdco), a direct wholly owned subsidiary of EQM, for $445.9 million , of which $193.4 million was paid in July 2018 and $252.5 million is expected to be paid in the third quarter of 2018. The capital contribution payable has been reflected on the consolidated balance sheet as of June 30, 2018 with a corresponding increase to EQM's investment in the MVP Joint Venture. Equity income is primarily EQM's portion of the MVP Joint Venture's AFUDC on construction of the MVP. As of June 30, 2018 , EQM had issued a $91 million performance guarantee in favor of the MVP Joint Venture to provide performance assurances for MVP Holdco's obligations to fund its proportionate share of the construction budget for the MVP. As of June 30, 2018 , EQM's maximum financial statement exposure related to the MVP Joint Venture was approximately $1,094 million , which consists of the investment in unconsolidated entity balance on the consolidated balance sheet as of June 30, 2018 and amounts that could have become due under EQM's performance guarantee as of that date. The following tables summarize the unaudited condensed financial statements for the MVP Joint Venture. Condensed Consolidated Balance Sheets June 30, December 31, (Thousands) Current assets $ 1,161,641 $ 330,271 Noncurrent assets 1,334,266 747,728 Total assets $ 2,495,907 $ 1,077,999 Current liabilities $ 290,855 $ 65,811 Equity 2,205,052 1,012,188 Total liabilities and equity $ 2,495,907 $ 1,077,999 Condensed Statements of Consolidated Operations Three Months Ended Six Months Ended 2018 2017 2018 2017 (Thousands) Net interest income $ 7,732 $ 2,730 $ 13,915 $ 4,977 AFUDC - equity 16,307 8,503 29,489 15,656 Net income $ 24,039 $ 11,233 $ 43,404 $ 20,633

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Long-term Debt, Current and Noncurrent [Abstract]
Debt	Debt Credit Facility Borrowings $1 Billion Facility. EQM has a $1 billion credit facility that expires in July 2022. The $1 Billion Facility is available to fund working capital requirements and capital expenditures, to purchase assets, to pay distributions and repurchase units and for general partnership purposes (including purchasing assets from EQT and other third parties). EQM's $1 Billion Facility contains various provisions that, if violated, could result in termination of the credit facility, require early payment of amounts outstanding or similar actions. The most significant covenants and events of default relate to maintenance of a permitted leverage ratio, limitations on transactions with affiliates, limitations on restricted payments, insolvency events, nonpayment of scheduled principal or interest payments, acceleration of and certain other defaults under other financial obligations and change of control provisions. Under the $1 Billion Facility, EQM is required to maintain a consolidated leverage ratio of not more than 5.00 to 1.00 (or not more than 5.50 to 1.00 for certain measurement periods following the consummation of certain acquisitions). EQM had no letters of credit outstanding under its credit facility as of June 30, 2018 and December 31, 2017 . During the three and six months ended June 30, 2018 , the maximum amount of EQM's outstanding borrowings under EQM's credit facility at any time was $338 million and $420 million , respectively, and the average daily balance was approximately $122 million and $211 million , respectively. EQM incurred interest at weighted average annual interest rates of approximately 3.4% and 3.2% for the three and six months ended June 30, 2018 , respectively. There were no borrowings outstanding at any time during the three and six months ended June 30, 2017 . During the third quarter, EQM intends to increase its borrowing capacity from $1 billion up to $2 billion . 364 -Day Facility. EQM has a $500 million , 364 -day, uncommitted revolving loan agreement with EQT that matures on October 24, 2018 and will automatically renew for successive 364 -day periods unless EQT delivers a non-renewal notice at least 60 days prior to the then current maturity date. Interest accrues on outstanding borrowings at an interest rate equal to the rate then applicable to similar loans under the $1 Billion Facility, or a successor revolving credit facility, less the sum of (i) the then applicable commitment fee under the $1 Billion Facility and (ii) 10 basis points. EQM had no borrowings outstanding on the 364 -Day Facility as of June 30, 2018 and December 31, 2017 . There were no borrowings outstanding at any time during the three and six months ended June 30, 2018 . During the three and six months ended June 30, 2017 , the maximum amount of EQM's outstanding borrowings under the credit facility at any time was $100 million and the average daily balances were approximately $55 million and $40 million , respectively. EQM incurred interest at weighted average annual interest rates of approximately 2.2% and 2.1% for the three and six months ended June 30, 2017 , respectively. EQM expects EQT to terminate the 364-Day Facility at or prior to the proposed separation of EQT's production and midstream businesses (the Separation). EQM Term Loan Facility . On April 25, 2018, EQM entered into a $2.5 billion unsecured multi-draw 364 -day term loan facility with a syndicate of lenders. The EQM Term Loan Facility was used to fund the cash consideration for the May 2018 Acquisition , to repay borrowings under EQM's $1 Billion Facility and for other general partnership purposes. During the second quarter 2018, the balance outstanding under the EQM Term Loan Facility was repaid, and the EQM Term Loan Facility was terminated on June 25, 2018 in connection with EQM's issuance of the 2018 Senior Notes (defined below). As a result of the termination, EQM expensed $3 million of deferred issuance costs. From April 25, 2018 through June 25, 2018 , the maximum amount of EQM's outstanding borrowings under the EQM Term Loan Facility at any time was $1,825 million and the average daily balance was approximately $1,231 million . EQM incurred interest at a weighted average annual interest rate of approximately 3.3% for the period from April 25, 2018 through June 25, 2018 . 2018 Senior Notes. During the second quarter of 2018, EQM issued 4.75% senior notes due July 15, 2023 in the aggregate principal amount of $1.1 billion , 5.50% senior notes due July 15, 2028 in the aggregate principal amount of $850 million and 6.50% senior notes due July 15, 2048 in the aggregate principal amount of $550 million (collectively, the 2018 Senior Notes). EQM received net proceeds from the offering of approximately $2,465.8 million , inclusive of a discount of $11.8 million and estimated debt issuance costs of $22.4 million . The net proceeds were used to repay the balance outstanding under the EQM Term Loan Facility and the RMP Credit Agreement and the remainder is expected to be used for general partnership purposes. The 2018 Senior Notes were issued pursuant to new supplemental indentures to EQM's existing indenture dated August 1, 2014. The 2018 Senior Notes contain covenants that limit EQM's ability to, among other things, incur certain liens securing indebtedness, engage in certain sale and leaseback transactions, and enter into certain consolidations, mergers, conveyances, transfers or leases of all or substantially all of the EQM's assets. As of June 30, 2018 , EQM was in compliance with all debt provisions and covenants.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying values of cash and cash equivalents, accounts receivable, amounts due to/from related parties and accounts payable approximate fair value due to the short maturity of the instruments; these are considered Level 1 fair value measurements. The carrying value of the credit facility borrowings approximates fair value as the interest rates are based on prevailing market rates; this is considered a Level 1 fair value measurement. As EQM's senior notes are not actively traded, their fair values are considered Level 2 fair value measurements and are estimated using a standard industry income approach model that applies a discount rate based on market rates for debt with similar remaining time to maturity and credit risk. As of June 30, 2018 and December 31, 2017 , the estimated fair value of EQM's senior notes was approximately $3,454 million and $1,006 million , respectively, and the carrying value of EQM's senior notes was approximately $3,454 million and $987 million , respectively. The fair value of the Preferred Interest is a Level 3 fair value measurement and is estimated using an income approach model that applies a market-based discount rate. As of June 30, 2018 and December 31, 2017 , the estimated fair value of the Preferred Interest was approximately $125 million and $133 million , respectively, and the carrying value of the Preferred Interest was approximately $117 million and $119 million , respectively.

Distributions

Distributions	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Distributions	Equity and Net Income per Limited Partner Unit The following table summarizes EQM's limited partner common units and general partner units issued from January 1, 2018 through June 30, 2018 . There were no issuances in 2017 . Limited Partner Common Units General Partner Units Total Balance at January 1, 2018 80,581,758 1,443,015 82,024,773 Common units issued (1) 9,608 — 9,608 May 2018 Acquisition consideration 5,889,282 — 5,889,282 Balance at June 30, 2018 86,480,648 1,443,015 87,923,663 (1) Units issued upon a resignation from the EQM General Partner's Board of Directors in February 2018. As of June 30, 2018 , EQGP owned 21,811,643 EQM common units, representing a 24.8% limited partner interest, 1,443,015 EQM general partner units, representing a 1.6% general partner interest, and all of the IDRs in EQM. As of June 30, 2018 , EQT owned 5,889,282 EQM common units, representing a 6.7% limited partner interest in EQM, 100% of the non-economic general partner interest in EQGP and a 91.3% limited partner interest in EQGP. As a result of the EQM-RMP Merger, on July 23, 2018, an indirect wholly owned subsidiary of EQT received 9,544,530 EQM common units as Merger Consideration. Net Income per Limited Partner Unit. Net income attributable to the May 2018 Acquisition for the periods prior to May 1, 2018, was not allocated to the limited partners for purposes of calculating net income per limited partner unit as these pre-acquisition amounts were not available to the unitholders. The weighted average phantom unit awards included in the calculation of basic weighted average limited partner units outstanding was 17,369 and 21,041 for the three months ended June 30, 2018 and 2017 , respectively, and 20,467 and 20,506 for the six months ended June 30, 2018 and 2017 , respectively. Distributions On July 24, 2018 , the Board of Directors of the EQM General Partner declared a cash distribution to EQM's unitholders for the second quarter of 2018 of $1.09 per common unit. The cash distribution will be paid on August 14, 2018 to unitholders of record at the close of business on August 3, 2018 . Based on the EQM common units outstanding on July 26, 2018 , cash distributions to EQGP will be approximately $23.8 million related to its limited partner interest, $2.4 million related to its general partner interest and $68.1 million related to its IDRs in EQM. The distribution amounts to EQGP related to its general partner interest and IDRs in EQM are subject to change if EQM issues additional common units on or prior to the record date for the second quarter 2018 distribution.

Financial Statements (Policies)

Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these unaudited consolidated financial statements include all adjustments (consisting of only normal recurring adjustments, unless otherwise disclosed in this Form 10-Q) necessary for a fair presentation of the financial position of EQM as of June 30, 2018 and December 31, 2017 , the results of its operations for the three and six months ended June 30, 2018 and 2017 , and its cash flows and equity for the six months ended June 30, 2018 and 2017 . Certain previously reported amounts have been reclassified to conform to the current year presentation. The balance sheet at December 31, 2017 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. EQM's consolidated financial statements have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control. The recast is for the period the acquired businesses were under the common control of EQT, which began on November 13, 2017 as a result of EQT's merger with Rice Energy Inc. (Rice) (the Rice Merger). EQM recorded the assets and liabilities acquired in the May 2018 Acquisition at their carrying amounts to EQT on the effective date of the transaction. The consolidated financial statements are not necessarily indicative of the actual results of operations if EQM and the assets acquired in the May 2018 Acquisition been operated together during the pre-acquisition periods. Due to the seasonal nature of EQM's utility customer contracts, the interim statements for the three and six months ended June 30, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . For further information, refer to the consolidated financial statements and related footnotes for the year ended December 31, 2017 and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in each case as included in EQM's Current Report on Form 8-K as filed with the SEC on June 12, 2018.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers . The standard requires an entity to recognize revenue in a manner that depicts the transfer of goods or services to customers at an amount that reflects the consideration the entity expects in exchange for those goods or services. EQM adopted this standard on January 1, 2018 using the modified retrospective method of adoption. Adoption of the ASU did not require an adjustment to the opening balance of equity. EQM does not expect the standard to have a significant effect on its results of operations, liquidity or financial position. EQM implemented processes and controls to ensure new contracts are reviewed for the appropriate accounting treatment and to generate the disclosures required under the new standard in the first quarter of 2018. For the disclosures required by this ASU, see Note C. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . The standard primarily affects accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments, and eliminates the cost method of accounting for equity investments. EQM adopted this standard in the first quarter of 2018 with no significant effect on its financial statements or related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases . The standard requires an entity to record assets and obligations for contracts currently recognized as operating leases. Lessees and lessors must apply a modified retrospective transition approach. The ASU will be effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early adoption permitted. EQM has performed a high-level identification of agreements covered by this standard, is currently evaluating processes and internal controls and is in the process of implementing a third-party supported lease accounting information system to facilitate the accounting and financial reporting requirements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. This ASU amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For assets held at amortized cost basis, this ASU eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The ASU will be effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period. EQM is currently evaluating the effect this standard will have on its financial statements and related disclosures. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test of Goodwill Impairment . ASU 2017-04 simplifies the quantitative goodwill impairment test requirements by eliminating the requirement to calculate the implied fair value of goodwill (Step 2 of the current goodwill impairment test). Instead, a company would record an impairment charge based on the excess of a reporting unit’s carrying value over its fair value (measured in Step 1 of the current goodwill impairment test). Entities will apply the standard’s provisions prospectively. EQM adopted this standard in the first quarter of 2018 with no significant effect on its financial statements or related disclosures.

Acquisitions and Merger (Tables

Acquisitions and Merger (Tables)	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Schedule Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the allocation of the fair value of the assets and liabilities of ROM, Strike Force and Rice WV as of November 13, 2017 through pushdown accounting from EQT. The preliminary allocation to certain assets and/or liabilities may be adjusted by material amounts as EQT continues to finalize the fair value estimates. At November 13, 2017 (Thousands) Estimated fair value of ROM, Strike Force and Rice WV (1) $ 1,514,743 Estimated Fair Value of Assets Acquired and Liabilities Assumed: Current assets (2) 66,586 Intangible assets (3) 623,200 Property and equipment, net (4) 846,823 Other non-current assets 71 Current liabilities (2) (59,891 ) Total estimated fair value of assets acquired and liabilities assumed $ 1,476,789 Goodwill 37,954 (1) Includes the estimated fair value attributable to noncontrolling interest of $166 million . (2) The fair value of current assets and current liabilities were assumed to approximate their carrying values. (3) The identifiable intangible assets for customer relationships were estimated by applying a discounted cash flow approach which was adjusted for customer attrition assumptions and projected market conditions. (4) The estimated fair value of long-lived property and equipment were determined utilizing estimated replacement cost adjusted for a usage or obsolescence factor.

Revenue from Contracts with C21

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenue Information, by Business Segment	The table below provides disaggregated revenue information by EQM business segment for the three and six months ended June 30, 2018 . Three Months Ended June 30, 2018 Gathering Transmission Total (Thousands) Firm reservation fee revenues $ 111,702 $ 82,222 $ 193,924 Volumetric based fee revenues: Usage fees under firm contracts (1) 9,956 4,828 14,784 Usage fees under interruptible contracts (2) 58,958 2,095 61,053 Total volumetric based fee revenues 68,914 6,923 75,837 Total operating revenues $ 180,616 $ 89,145 $ 269,761 Six Months Ended June 30, 2018 Gathering Transmission Total (Thousands) Firm reservation fee revenues $ 221,635 $ 179,997 $ 401,632 Volumetric based fee revenues: Usage fees under firm contracts (1) 22,064 8,650 30,714 Usage fees under interruptible contracts (2) 116,545 7,432 123,977 Total volumetric based fee revenues 138,609 16,082 154,691 Total operating revenues $ 360,244 $ 196,079 $ 556,323 (1) Includes fees on volumes gathered and transported in excess of firm contracted capacity and also for transmission includes commodity charges and fees on all volumes transported under firm contracts. (2) Includes volumes from contracts under which EQM has agreed to hold capacity available but for which it does not receive a capacity reservation fee.
Summary of Remaining Performance Obligations	The following table summarizes the transaction price allocated to EQM's remaining performance obligations under all contracts with firm reservation fees and MVCs as of June 30, 2018 . 2018 2019 2020 2021 2022 Thereafter Total (Thousands) Gathering firm reservation fees $ 223,806 $ 471,226 $ 547,153 $ 557,152 $ 557,152 $ 2,841,279 $ 5,197,768 Gathering revenues supported by MVCs — 65,700 71,370 71,175 71,175 136,875 416,295 Transmission firm reservation fees 179,786 347,061 347,261 341,769 338,010 2,602,572 4,156,459 Total $ 403,592 $ 883,987 $ 965,784 $ 970,096 $ 966,337 $ 5,580,726 $ 9,770,522

Equity and Net Income per Lim22

Equity and Net Income per Limited Partner Unit (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Summary of Units Issued	The following table summarizes EQM's limited partner common units and general partner units issued from January 1, 2018 through June 30, 2018 . There were no issuances in 2017 . Limited Partner Common Units General Partner Units Total Balance at January 1, 2018 80,581,758 1,443,015 82,024,773 Common units issued (1) 9,608 — 9,608 May 2018 Acquisition consideration 5,889,282 — 5,889,282 Balance at June 30, 2018 86,480,648 1,443,015 87,923,663 (1) Units issued upon a resignation from the EQM General Partner's Board of Directors in February 2018.

Financial Information by Busi23

Financial Information by Business Segment (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of Revenue from External Customers and Operating Income and Reconciliation to Net Income	Three Months Ended Six Months Ended 2018 2017 2018 2017 (Thousands) Revenues from external customers (including affiliates): Gathering $ 180,616 $ 112,145 $ 360,244 $ 214,474 Transmission 89,145 84,670 196,079 182,413 Total operating revenues $ 269,761 $ 196,815 $ 556,323 $ 396,887 Operating income: Gathering $ 121,631 $ 83,425 $ 252,513 $ 157,129 Transmission 60,642 57,863 140,093 129,467 Total operating income $ 182,273 $ 141,288 $ 392,606 $ 286,596 Reconciliation of operating income to net income: Equity income (1) 10,938 5,111 19,749 9,388 Other income 944 1,402 1,842 2,939 Net interest expense 20,683 8,662 31,399 16,588 Net income $ 173,472 $ 139,139 $ 382,798 $ 282,335 (1) Equity income is included in the Transmission segment.
Schedule of Segment Assets	June 30, December 31, (Thousands) Segment assets: Gathering $ 3,250,242 $ 3,020,491 Transmission (1) 2,505,947 1,948,047 Total operating segments 5,756,189 4,968,538 Headquarters, including cash 806,236 179,038 Total assets $ 6,562,425 $ 5,147,576 (1) The equity investment in the MVP Joint Venture was included in the headquarters segment prior to June 30, 2018. As of June 30, 2018, the investment in the MVP Joint Venture was included in the Transmission segment and the amount at December 31, 2017 has been recast to confirm with this presentation.
Schedule of Depreciation, Amortization, and Expenditures for Segment Assets	Three Months Ended Six Months Ended 2018 2017 2018 2017 (Thousands) Depreciation: Gathering $ 15,646 $ 9,555 $ 30,590 $ 18,415 Transmission 12,430 11,845 24,871 23,532 Total $ 28,076 $ 21,400 $ 55,461 $ 41,947 Expenditures for segment assets: Gathering $ 139,099 $ 53,708 $ 252,297 $ 102,546 Transmission 27,962 29,978 46,891 51,367 Total (1) $ 167,061 $ 83,686 $ 299,188 $ 153,913 (1) EQM accrues capital expenditures when work has been completed but the associated bills have not yet been paid. These accrued amounts are excluded from capital expenditures in the statements of consolidated cash flows until they are paid in a subsequent period. Accrued capital expenditures were approximately $62.3 million , $60.3 million and $66.0 million at June 30, 2018 , March 31, 2018 and December 31, 2017 , respectively. Accrued capital expenditures were approximately $31.2 million , $34.0 million and $26.7 million at June 30, 2017 , March 31, 2017 and December 31, 2016 , respectively.

Investment in Unconsolidated 24

Investment in Unconsolidated Entity (Tables)	6 Months Ended
	Jun. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Unaudited Condensed Financial Statements for the Investment in Unconsolidated Equity	The following tables summarize the unaudited condensed financial statements for the MVP Joint Venture. Condensed Consolidated Balance Sheets June 30, December 31, (Thousands) Current assets $ 1,161,641 $ 330,271 Noncurrent assets 1,334,266 747,728 Total assets $ 2,495,907 $ 1,077,999 Current liabilities $ 290,855 $ 65,811 Equity 2,205,052 1,012,188 Total liabilities and equity $ 2,495,907 $ 1,077,999 Condensed Statements of Consolidated Operations Three Months Ended Six Months Ended 2018 2017 2018 2017 (Thousands) Net interest income $ 7,732 $ 2,730 $ 13,915 $ 4,977 AFUDC - equity 16,307 8,503 29,489 15,656 Net income $ 24,039 $ 11,233 $ 43,404 $ 20,633

Acquisitions and Merger - Narra

Acquisitions and Merger - Narrative (Details)

Jul. 23, 2018USD ($)

May 01, 2018USD ($)shares

Apr. 25, 2018shares

Nov. 13, 2017USD ($)

Jun. 30, 2018USD ($)

Jun. 30, 2017USD ($)

Jun. 30, 2018USD ($)

Jun. 30, 2017USD ($)

Dec. 31, 2017USD ($)

Business Acquisition [Line Items]

Goodwill

[1]

$ 37,954,000

$ 37,954,000

$ 37,954,000

Amortization of intangible assets

[2]

10,387,000

$ 0

20,773,000

[3]

$ 0

[3]

Strike Force Midstream

Business Acquisition [Line Items]

Membership interest (as a percent)

100.00%

May 2018 Acquisition

Business Acquisition [Line Items]

Equity interest issued or issuable (in shares) | shares

5,889,282

Payments to acquire businesses, gross

$ 1,150,000,000

Goodwill

$ 37,954,000

Intangible assets acquired

$ 623,200,000

Weighted average useful life

15 years

Amortization of intangible assets

10,400,000

$ 0

20,800,000

$ 0

Accumulated amortization

26,300,000

26,300,000

$ 5,500,000

Estimated annual amortization expense, current

41,500,000

41,500,000

Estimated annual amortization expense, 2019

41,500,000

41,500,000

Estimated annual amortization expense, 2020

41,500,000

41,500,000

Estimated annual amortization expense, 2021

41,500,000

41,500,000

Estimated annual amortization expense, 2022

$ 41,500,000

$ 41,500,000

Consideration transferred

$ 1,514,743,000

Strike Force Midstream

Business Acquisition [Line Items]

Percentage of voting interests acquired

25.00%

Consideration transferred

$ 175,000,000

Strike Force Midstream Holdings LLC | May 2018 Acquisition | Strike Force Midstream

Business Acquisition [Line Items]

Membership interest (as a percent)

75.00%

Rice Midstream Partners, LP | EQM-RMP Merger

Business Acquisition [Line Items]

Common share conversation ratio

0.3319

Consideration transferred, common units (in shares) | shares

34,000,000

Subsequent Event | EQM-RMP Merger

Business Acquisition [Line Items]

Repayment of outstanding borrowings

$ 260,000,000

[1]

As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.

[2]

As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of Rice Olympus Midstream LLC (ROM), Strike Force Midstream Holdings LLC (Strike Force) and Rice West Virginia Midstream LLC (Rice WV), which were acquired by EQM effective on May 1, 2018 (the May 2018 Acquisition), because this transaction was between entities under common control.

[3]

As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.

Acquisitions and Merger - Sched

Acquisitions and Merger - Schedule Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		Nov. 13, 2017	Jun. 30, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	[1]		$ 37,954	$ 37,954
May 2018 Acquisition
Business Acquisition [Line Items]
Consideration transferred		$ 1,514,743
Current assets		66,586
Intangible assets		623,200
Property and equipment, net		846,823
Property and equipment, net		71
Current liabilities		(59,891)
Total estimated fair value of assets acquired and liabilities assumed		1,476,789
Goodwill		37,954
Noncontrolling interest, fair value		$ 166,000
[1]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.

Revenue from Contracts with C27

Revenue from Contracts with Customers - Narrative (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Contract billing cycle	21 days
Gathering
Disaggregation of Revenue [Line Items]
Weighted average remaining term		8 years
Transmission
Disaggregation of Revenue [Line Items]
Weighted average remaining term		15 years

Revenue from Contracts with C28

Revenue from Contracts with Customers - Schedule of Disaggregated Revenue Information, by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 269,761	$ 556,323
Firm reservation fee revenues | Firm reservation fee revenues
Disaggregation of Revenue [Line Items]
Total operating revenues	193,924	401,632
Volumetric based fee revenues
Disaggregation of Revenue [Line Items]
Total operating revenues	75,837	154,691
Volumetric based fee revenues | Usage fees under firm contracts
Disaggregation of Revenue [Line Items]
Total operating revenues	14,784	30,714
Volumetric based fee revenues | Usage fees under interruptible contracts
Disaggregation of Revenue [Line Items]
Total operating revenues	61,053	123,977
Gathering
Disaggregation of Revenue [Line Items]
Total operating revenues	180,616	360,244
Gathering | Firm reservation fee revenues | Firm reservation fee revenues
Disaggregation of Revenue [Line Items]
Total operating revenues	111,702	221,635
Gathering | Volumetric based fee revenues
Disaggregation of Revenue [Line Items]
Total operating revenues	68,914	138,609
Gathering | Volumetric based fee revenues | Usage fees under firm contracts
Disaggregation of Revenue [Line Items]
Total operating revenues	9,956	22,064
Gathering | Volumetric based fee revenues | Usage fees under interruptible contracts
Disaggregation of Revenue [Line Items]
Total operating revenues	58,958	116,545
Transmission
Disaggregation of Revenue [Line Items]
Total operating revenues	89,145	196,079
Transmission | Firm reservation fee revenues | Firm reservation fee revenues
Disaggregation of Revenue [Line Items]
Total operating revenues	82,222	179,997
Transmission | Volumetric based fee revenues
Disaggregation of Revenue [Line Items]
Total operating revenues	6,923	16,082
Transmission | Volumetric based fee revenues | Usage fees under firm contracts
Disaggregation of Revenue [Line Items]
Total operating revenues	4,828	8,650
Transmission | Volumetric based fee revenues | Usage fees under interruptible contracts
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 2,095	$ 7,432

Revenue from Contracts with C29

Revenue from Contracts with Customers - Summary of Remaining Performance Obligations (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 403,592
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	883,987
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	965,784
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	970,096
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	966,337
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	5,580,726
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	9,770,522
Transmission | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 179,786
Remaining performance obligations, expected timing	6 months
Transmission | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 347,061
Remaining performance obligations, expected timing	1 year
Transmission | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 347,261
Remaining performance obligations, expected timing	1 year
Transmission | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 341,769
Remaining performance obligations, expected timing	1 year
Transmission | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 338,010
Remaining performance obligations, expected timing	1 year
Transmission | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 2,602,572
Remaining performance obligations, expected timing
Transmission | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 4,156,459
Time-and-materials Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 223,806
Remaining performance obligations, expected timing	6 months
Time-and-materials Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 471,226
Remaining performance obligations, expected timing	1 year
Time-and-materials Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 547,153
Remaining performance obligations, expected timing	1 year
Time-and-materials Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 557,152
Remaining performance obligations, expected timing	1 year
Time-and-materials Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 557,152
Remaining performance obligations, expected timing	1 year
Time-and-materials Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 2,841,279
Remaining performance obligations, expected timing
Time-and-materials Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 5,197,768
Minimum Volume Commitment Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 0
Remaining performance obligations, expected timing	6 months
Minimum Volume Commitment Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 65,700
Remaining performance obligations, expected timing	1 year
Minimum Volume Commitment Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 71,370
Remaining performance obligations, expected timing	1 year
Minimum Volume Commitment Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 71,175
Remaining performance obligations, expected timing	1 year
Minimum Volume Commitment Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 71,175
Remaining performance obligations, expected timing	1 year
Minimum Volume Commitment Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 136,875
Minimum Volume Commitment Contract | Gathering | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 416,295

Equity and Net Income per Lim30

Equity and Net Income per Limited Partner Unit - Narrative (Details) - shares	Jul. 23, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Class of Stock [Line Items]
Partners' capital account, units issued (in shares)				9,608		0
Number of common units held by parent (in shares)		86,480,648		86,480,648		80,581,758
Number of general partner units held by parent (in shares)		87,923,663		87,923,663		82,024,773
Partners' capital, units acquired (in shares)				5,889,282
Phantom Units
Class of Stock [Line Items]
Weighted average limited partner units outstanding - basic (in shares)		17,369	21,041	20,467	20,506
EQT | EQGP
Class of Stock [Line Items]
General partner's ownership interest (as a percent)				100.00%
Limited Partner Common Units
Class of Stock [Line Items]
Partners' capital account, units issued (in shares)				9,608
Number of general partner units held by parent (in shares)		86,480,648		86,480,648		80,581,758
Partners' capital, units acquired (in shares)				5,889,282
Limited Partner Common Units | EQGP | EQM
Class of Stock [Line Items]
Number of common units held by parent (in shares)		21,811,643		21,811,643
Ownership interest (as a percent)				24.80%
Limited Partner Common Units | EQT | EQM
Class of Stock [Line Items]
Ownership interest (as a percent)				6.70%
Partners' capital, units acquired (in shares)				5,889,282
Limited Partner Common Units | EQT | EQGP
Class of Stock [Line Items]
Ownership interest (as a percent)				91.30%
General Partner Units
Class of Stock [Line Items]
Partners' capital account, units issued (in shares)				0
Number of general partner units held by parent (in shares)		1,443,015		1,443,015		1,443,015
Partners' capital, units acquired (in shares)				0
General Partner Units | EQGP | EQM
Class of Stock [Line Items]
Number of general partner units held by parent (in shares)		1,443,015		1,443,015
General partner's ownership interest (as a percent)				1.60%
EQM-RMP Merger | Subsequent Event | EQT | EQM
Class of Stock [Line Items]
Consideration transferred, common units (in shares)	9,544,530

Equity and Net Income per Lim31

Equity and Net Income per Limited Partner Unit - Summary of Units Issued (Details) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Increase (Decrease) in Partners' Capital
Balance at January 1, 2018	82,024,773
Common units issued (in shares)	9,608	0
May 2018 Acquisition consideration	5,889,282
Balance at June 30, 2018	87,923,663	82,024,773
Limited Partner Common Units
Increase (Decrease) in Partners' Capital
Balance at January 1, 2018	80,581,758
Common units issued (in shares)	9,608
May 2018 Acquisition consideration	5,889,282
Balance at June 30, 2018	86,480,648	80,581,758
General Partner Units
Increase (Decrease) in Partners' Capital
Balance at January 1, 2018	1,443,015
Common units issued (in shares)	0
May 2018 Acquisition consideration	0
Balance at June 30, 2018	1,443,015	1,443,015

Financial Information by Busi32

Financial Information by Business Segment (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018		Jun. 30, 2017		Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Revenues from external customers (including affiliates):
Total operating revenues	[1],[2]	$ 269,761	$ 196,815	$ 556,323		$ 396,887
Operating income:
Total operating income	[1]	182,273	141,288	392,606		286,596
Reconciliation of operating income to net income:
Equity income	[1],[3]	10,938	5,111	19,749	[4]	9,388	[4]
Other income	[1]	944	1,402	1,842		2,939
Net interest expense	[1],[5]	20,683	8,662	31,399		16,588
Net income	[1]	173,472	139,139	382,798	[4],[6]	282,335	[4],[6]
Segment assets:
Total assets	[7]	6,562,425		6,562,425					$ 5,147,576
Depreciation:
Total	[1]	28,076	21,400	55,461	[4]	41,947	[4]
Expenditures for segment assets:
Accrued capital expenditures		62,300	31,200	62,300		31,200		$ 60,300	66,000	$ 34,000	$ 26,700
Operating Segments
Segment assets:
Total assets		5,756,189		5,756,189					4,968,538
Depreciation:
Total		28,076	21,400	55,461		41,947
Expenditures for segment assets:
Total		167,061	83,686	299,188		153,913
Headquarters, including cash
Segment assets:
Total assets		806,236		806,236					179,038
Gathering | Operating Segments
Revenues from external customers (including affiliates):
Total operating revenues		180,616	112,145	360,244		214,474
Operating income:
Total operating income		121,631	83,425	252,513		157,129
Segment assets:
Total assets		3,250,242		3,250,242					3,020,491
Depreciation:
Total		15,646	9,555	30,590		18,415
Expenditures for segment assets:
Total		139,099	53,708	252,297		102,546
Transmission | Operating Segments
Revenues from external customers (including affiliates):
Total operating revenues		89,145	84,670	196,079		182,413
Operating income:
Total operating income		60,642	57,863	140,093		129,467
Segment assets:
Total assets		2,505,947		2,505,947					$ 1,948,047
Depreciation:
Total		12,430	11,845	24,871		23,532
Expenditures for segment assets:
Total		$ 27,962	$ 29,978	$ 46,891		$ 51,367
[1]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of Rice Olympus Midstream LLC (ROM), Strike Force Midstream Holdings LLC (Strike Force) and Rice West Virginia Midstream LLC (Rice WV), which were acquired by EQM effective on May 1, 2018 (the May 2018 Acquisition), because this transaction was between entities under common control.
[2]	Operating revenues included affiliate revenues from EQT Corporation and subsidiaries (collectively, EQT) of $180.4 million and $148.2 million for the three months ended June 30, 2018 and 2017, respectively, and $361.6 million and $291.6 million for six months ended June 30, 2018 and 2017, respectively. See Note F.
[3]	Represents equity income from Mountain Valley Pipeline, LLC (the MVP Joint Venture). See Note G.
[4]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[5]	Net interest expense included interest income on the Preferred Interest in EES of $1.7 million and $1.7 million for the three months ended June 30, 2018 and 2017, respectively, and $3.3 million and $3.4 million for the six months ended June 30, 2018 and 2017, respectively.
[6]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[7]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.

Investment in Unconsolidated 33

Investment in Unconsolidated Entity - Narrative (Details) $ in Thousands		1 Months Ended		6 Months Ended
		Jul. 31, 2018USD ($)	May 31, 2018USD ($)	Jun. 30, 2018USD ($)mi	Jun. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Schedule of Equity Method Investments [Line Items]
Capital call notice paid in July 2018	[1]			$ 182,805	$ 59,940
Capital call notice expected to be paid	[2]			$ 445,933			$ 105,734
Variable Interest Entity, Not Primary Beneficiary | MVP Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership interest				45.50%
Capital contribution payable to MVP Joint Venture			$ 445,900
Maximum financial statement exposure				$ 1,094,000
MVP
Schedule of Equity Method Investments [Line Items]
Length of pipeline (in miles) | mi				300
MVP | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Issuance of performance guarantee				$ 91,000
Beneficial Owner | MVP Joint Venture
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest				66.67%
Scenario, Forecast | Variable Interest Entity, Not Primary Beneficiary | MVP Joint Venture
Schedule of Equity Method Investments [Line Items]
Capital call notice expected to be paid						$ 252,500
Subsequent Event | Variable Interest Entity, Not Primary Beneficiary | MVP Joint Venture
Schedule of Equity Method Investments [Line Items]
Capital call notice paid in July 2018		$ 193,400
[1]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.
[2]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.

Investment in Unconsolidated 34

Investment in Unconsolidated Entity - Schedule of Unaudited Condensed Financial Statements for the Investment in Unconsolidated Equity (Details) - MVP Joint Venture - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Condensed Consolidated Balance Sheets
Current assets	$ 1,161,641		$ 1,161,641		$ 330,271
Noncurrent assets	1,334,266		1,334,266		747,728
Total assets	2,495,907		2,495,907		1,077,999
Current liabilities	290,855		290,855		65,811
Equity	2,205,052		2,205,052		1,012,188
Total liabilities and equity	2,495,907		2,495,907		$ 1,077,999
Condensed Statements of Consolidated Operations
Net interest income	7,732	$ 2,730	13,915	$ 4,977
AFUDC - equity	16,307	8,503	29,489	15,656
Net income	$ 24,039	$ 11,233	$ 43,404	$ 20,633

Debt - $1 Billion Facility (Det

Debt - $1 Billion Facility (Details)		3 Months Ended		6 Months Ended
		Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Jul. 01, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Credit facility borrowings	[1]	$ 0		$ 0				$ 180,000,000
Revolving Credit Facility | $1 Billion Credit Facility
Debt Instrument [Line Items]
Credit facility borrowings		0		0				$ 0
Line of Credit | $1 Billion Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,000,000,000		$ 1,000,000,000
Consolidated leverage ratio for certain measurement periods (not more than)		5		5
Consolidated leverage ratio (not more than)		5.50		5.50
Maximum amount of outstanding short-term loans at any time during the period		$ 338,000,000	$ 0	$ 420,000,000	$ 0
Average daily balance of short-term loans outstanding		$ 122,000,000		$ 211,000,000
Weighted average annual interest rate		3.40%		3.20%
Scenario, Forecast | Line of Credit | $1 Billion Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 2,000,000,000	$ 1,000,000,000
[1]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of the May 2018 Acquisition because this transaction was between entities under common control.

Debt - 364-Day Facility (Detail

Debt - 364-Day Facility (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Line of Credit | $1 Billion Credit Facility
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 1,000,000,000		$ 1,000,000,000
Maximum amount of outstanding short-term loans at any time during the period	338,000,000	$ 0	420,000,000	$ 0
Average daily balance of short-term loans outstanding	$ 122,000,000		$ 211,000,000
Weighted average annual interest rate	3.40%		3.20%
Revolving Credit Facility
Short-term Debt [Line Items]
Basis spread above commitment fee			0.10%
Revolving Credit Facility | $500 Million Uncommitted Revolving Loan Agreement
Short-term Debt [Line Items]
Line of credit expiration period			364 days		364 days
Maximum borrowing capacity	$ 500,000,000		$ 500,000,000
Renewal notice period prior to current maturity date			60 days
Short-term debt amount outstanding	0		$ 0		$ 0
Maximum amount of outstanding short-term loans at any time during the period	$ 0		$ 0	100,000,000
Average daily balance of short-term loans outstanding		$ 55,000,000		$ 40,000,000
Weighted average annual interest rate		2.20%		2.10%

Debt - EQM Term Loan Facility (

Debt - EQM Term Loan Facility (Details) - USD ($)	Apr. 25, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Line of Credit | $2.5 Billion EQM Term Loan Facility
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 2,500,000,000
Write off of Deferred Debt Issuance Cost				$ 3,000,000
Line of credit expiration period	364 days
Maximum amount of outstanding short-term loans at any time during the period		$ 1,825,000,000
Average daily balance of short-term loans outstanding				1,231,000,000
Weighted average annual interest rate		3.30%
Line of Credit | $1 Billion Credit Facility
Short-term Debt [Line Items]
Maximum borrowing capacity		$ 1,000,000,000		1,000,000,000
Maximum amount of outstanding short-term loans at any time during the period		338,000,000	$ 0	420,000,000	$ 0
Average daily balance of short-term loans outstanding		$ 122,000,000		$ 211,000,000
Weighted average annual interest rate		3.40%		3.20%

Debt - 2018 Senior Notes (Detai

Debt - 2018 Senior Notes (Details) - Senior Notes	3 Months Ended
	Jun. 30, 2018USD ($)
Debt Instrument [Line Items]
Net proceeds from offering	$ 2,465,800,000
Discount	11,800,000
Debt issuance costs	$ 22,400,000
EQM 4.75% Senior Notes Due 2023
Debt Instrument [Line Items]
Interest rate (as a percent)	4.75%
Aggregate principal amount	$ 1,100,000,000
EQM 5.50% Senior Notes Due 2028
Debt Instrument [Line Items]
Interest rate (as a percent)	5.50%
Aggregate principal amount	$ 850,000,000
EQM 6.50% Senior Notes Due 2048
Debt Instrument [Line Items]
Interest rate (as a percent)	6.50%
Aggregate principal amount	$ 550,000,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
EES | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of preferred interest	$ 117	$ 119
Level 3 | EES | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of preferred interest	125	133
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of long-term debt	3,454	987
Fair Value, Measurements, Recurring | Level 2 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of long-term debt	$ 3,454	$ 1,006

Distributions (Details)

Distributions (Details) - USD ($) $ / shares in Units, $ in Millions		Jul. 26, 2018	Jul. 24, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	[2]	Jun. 30, 2017	[2]
Distribution Made to Limited Partner [Line Items]
Cash distribution to the company's common and subordinated unitholders declared (in dollars per share)	[1]			$ 1.09	$ 0.935	$ 2.155		$ 1.825
Subsequent Event
Distribution Made to Limited Partner [Line Items]
Cash distribution to the company's common and subordinated unitholders declared (in dollars per share)			$ 1.090
Incentive distribution rights		$ 68.1
Subsequent Event | Limited Partner
Distribution Made to Limited Partner [Line Items]
Cash distribution declared to the limited partner		23.8
Subsequent Event | General Partner Units
Distribution Made to Limited Partner [Line Items]
Cash distribution declared to the general partner		$ 2.4
[1]	Represents the cash distributions declared related to the period presented. See Note J.
[2]	As discussed in Note A, the consolidated financial statements of EQM have been retrospectively recast to include the pre-acquisition results of Rice Olympus Midstream LLC (ROM), Strike Force Midstream Holdings LLC (Strike Force) and Rice West Virginia Midstream LLC (Rice WV), which were acquired by EQM effective on May 1, 2018 (the May 2018 Acquisition), because this transaction was between entities under common control.