EQGP 10-Q 23 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jun. 30, 2015 - shares	Total
Document and Entity Information
Entity Registrant Name	EQT GP Holdings, LP
Entity Central Index Key	1,632,933
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Entity Common Units, Units Outstanding	266,165,000
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Statements of Consolidated Oper

Statements of Consolidated Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended				6 Months Ended
		Jun. 30, 2015		Jun. 30, 2014		Jun. 30, 2015		Jun. 30, 2014
Income Statement [Abstract]
Operating revenues	[1],[2]	$ 144,613		$ 109,327		$ 299,424		$ 217,235
Operating expenses:
Operating and maintenance	[1],[3]	17,232		13,626		31,711		26,365
Selling, general and administrative	[1],[3]	14,765		12,865		30,418		25,420
Depreciation and amortization	[1]	12,258		10,436		24,185	[4]	20,433	[4]
Total operating expenses	[1]	44,255		36,927		86,314		72,218
Operating income	[1]	100,358		72,400		213,110		145,017
Equity income	[1],[5]	394		0		394	[4]	0	[4]
Other income	[1]	1,169		559		1,883		828
Interest expense	[1],[6]	11,640		6,629		23,097		12,284
Income before income taxes	[1]	90,281		66,330		192,290		133,561
Income tax expense	[1]	5,436		13,705		25,770		32,315
Net income	[1]	84,845		52,625		166,520	[4],[7]	101,246	[4],[7]
Net income attributable to noncontrolling interests		56,189	[1]	27,343	[1]	103,929		46,085	[1]
Net income	[1]	28,656		25,282		62,591		55,161
Calculation of limited partners' interest in net income:
Net income attributable to EQT GP Holdings, LP	[1]	28,656		$ 25,282		62,591		$ 55,161
Less: results attributable to the pre-IPO period	[1]	(8,303)				(42,238)
Limited partners' interest in net income	[1]	$ 20,353				$ 20,353
Net income per limited partner unit - basic (in dollars per unit)	[1]	$ 0.08				$ 0.08
Weighted average number of common units outstanding- basic and diluted (in dollars per unit)	[1]	266,167				266,167
Cash distributions declared per unit (in dollars per share)	[1],[8]	$ 0.04739				$ 0.04739
[1]	Financial statements for the six months ended June 30, 2015 and the three and six months ended June 30, 2014 have been retrospectively recast to reflect the inclusion of the Northern West Virginia Marcellus gathering system (NWV Gathering). See Note B.
[2]	Operating revenues included affiliate revenues from EQT Corporation and subsidiaries (collectively, EQT) of $107.7 million and $74.9 million for the three months ended June 30, 2015 and 2014, respectively, and $214.3 million and $147.2 million for the six months ended June 30, 2015 and 2014, respectively. See Note E.
[3]	Operating and maintenance expense included charges from EQT of $9.0 million and $7.6 million for the three months ended June 30, 2015 and 2014, respectively, and $16.6 million and $13.9 million for the six months ended June 30, 2015 and 2014, respectively. Selling, general and administrative expense included charges from EQT of $12.9 million and $10.5 million for the three months ended June 30, 2015 and 2014, respectively, and $25.7 million and $20.4 million for the six months ended June 30, 2015 and 2014, respectively. See Note E.
[4]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[5]	Equity income relates to EQM's interest in Mountain Valley Pipeline, LLC, which is a related party.
[6]	Interest expense included interest on a capital lease with an affiliate of $5.9 million and $5.4 million for the three months ended June 30, 2015 and 2014, respectively, and $11.8 million and $10.3 million for the six months ended June 30, 2015 and 2014, respectively.
[7]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[8]	Represents the cash distributions declared related to the period presented. The initial distribution has been pro-rated for the 47-day period from the date of the closing of EQGP’s IPO on May 15, 2015 to June 30, 2015. See Note I.

Statements of Consolidated Ope3

Statements of Consolidated Operations (Footnotes) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating and maintenance expense	[1],[2]	$ 17,232	$ 13,626	$ 31,711	$ 26,365
Selling, general and administrative expenses	[1],[2]	14,765	12,865	30,418	25,420
Interest expense on capital lease	[1]	5,900	5,400	11,800	10,300
EQT
Affiliate revenues	[1]	107,700	74,900	214,300	147,200
Operating and maintenance expense	[1]	9,000	7,600	16,600	13,900
Selling, general and administrative expenses	[1]	$ 12,900	$ 10,500	$ 25,700	$ 20,400
[1]	Financial statements for the six months ended June 30, 2015 and the three and six months ended June 30, 2014 have been retrospectively recast to reflect the inclusion of the Northern West Virginia Marcellus gathering system (NWV Gathering). See Note B.
[2]	Operating and maintenance expense included charges from EQT of $9.0 million and $7.6 million for the three months ended June 30, 2015 and 2014, respectively, and $16.6 million and $13.9 million for the six months ended June 30, 2015 and 2014, respectively. Selling, general and administrative expense included charges from EQT of $12.9 million and $10.5 million for the three months ended June 30, 2015 and 2014, respectively, and $25.7 million and $20.4 million for the six months ended June 30, 2015 and 2014, respectively. See Note E.

Statements of Consolidated Cash

Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2015		Jun. 30, 2014
Statement of Cash Flows [Abstract]
Net income	[1],[2],[3]	$ 166,520		$ 101,246
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	[1],[3]	24,185		20,433
Deferred income taxes	[1]	(185,456)		(334,479)
Equity income	[1],[3],[4]	(394)		0
Other income	[1]	(1,883)		(828)
Non-cash long-term compensation expense	[1]	888		1,805
Changes in other assets and liabilities:
Accounts receivable	[1]	2,551		(3,643)
Accounts payable	[1]	4,639		3,514
Due to/from EQT affiliates	[1]	224,827		342,345
Other assets and liabilities	[1]	3,225		4,958
Net cash provided by operating activities	[1]	239,102		135,351
Cash flows from investing activities:
Capital expenditures	[1]	(208,890)		(131,669)
MVP Interest Acquisition	[1]	(45,885)		0
Acquisitions – net assets from EQT	[1]	(386,791)		(168,198)
Purchase of preferred interest in EQT Energy Supply, LLC	[1]	(124,317)		0
Net cash used in investing activities	[1]	(765,883)		(299,867)
Cash flows from financing activities:
Proceeds from the issuance of EQM common units, net of offering costs	[1]	696,582		902,451
Acquisitions – purchase price in excess of net assets from EQT	[1]	(486,392)		(952,802)
Proceeds from short-term loans	[1]	434,000		450,000
Payments of short-term loans	[1]	(122,000)		(122,020)
Distributions to noncontrolling interests	[1]	(52,672)		(25,673)
Capital contributions	[1]	213		45
Net distributions to EQT	[1]	(107,759)		(131,155)
Capital lease principal payments	[1]	(5,472)		(2,216)
Net cash provided by financing activities	[1]	356,500		118,630
Net change in cash and cash equivalents	[1]	(170,281)		(45,886)
Cash and cash equivalents at beginning of period	[1]	171,291	[5]	247,988
Cash and cash equivalents at end of period	[1]	1,010	[5]	202,102
Cash paid during the period for:
Interest paid	[1]	25,442		10,800
Non-cash activity during the period for:
Increase in capital lease asset/obligation	[1]	8,235		5,178
Elimination of net current and deferred taxes at IPO	[1]	(164,586)		0
Limited partner and general partner units issued for acquisitions	[1]	52,500		59,000
Net settlement of current income taxes payable with EQT	[1]	$ 380,316		$ 215,380
[1]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[2]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[3]	Financial statements for the six months ended June 30, 2015 and the three and six months ended June 30, 2014 have been retrospectively recast to reflect the inclusion of the Northern West Virginia Marcellus gathering system (NWV Gathering). See Note B.
[4]	Equity income relates to EQM's interest in Mountain Valley Pipeline, LLC, which is a related party.
[5]	Financial statements as of December 31, 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	[1],[2]	$ 1,010	$ 171,291
Accounts receivable (net of allowance for doubtful accounts of $211 as of June 30, 2015 and $260 as of December 31, 2014)	[1]	13,941	16,492
Accounts receivable – affiliate	[1]	61,511	55,068
Other current assets	[1]	1,283	1,710
Total current assets	[1]	77,745	244,561
Property, plant and equipment	[1]	2,007,248	1,821,803
Less: accumulated depreciation	[1]	(235,075)	(216,486)
Net property, plant and equipment	[1]	1,772,173	1,605,317
Deferred income taxes, net	[1]	0	258,744
Equity in nonconsolidated investments	[1]	46,279	0
Other assets	[1]	141,285	18,057
Total assets	[1]	2,037,482	2,126,679
Current liabilities:
Accounts payable	[1]	40,537	43,785
Due to related party	[1]	35,601	409,931
Short-term loans	[1]	312,000	0
Accrued interest	[1]	8,519	8,338
Accrued liabilities	[1]	6,036	9,055
Total current liabilities	[1]	402,693	471,109
Long-term debt	[1]	493,017	492,633
Lease obligation	[1]	148,831	143,828
Other long-term liabilities	[1]	6,017	7,111
Total liabilities	[1]	1,050,558	1,114,681
Equity and partners’ capital:
Common units (266,165,000 issued and outstanding at June 30, 2015)	[1]	(1,355,924)	0
Parent net investment	[1]	0	(775,342)
Total equity and partners’ capital	[1]	(1,355,924)	(775,342)
Noncontrolling interests	[1]	2,342,848	1,787,340
Total equity and partners’ capital	[1],[3]	986,924	1,011,998
Total liabilities, equity and partners’ capital	[1]	$ 2,037,482	$ 2,126,679
[1]	Financial statements as of December 31, 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[2]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[3]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.

Consolidated Balance Sheets (U6

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Accounts Receivable, for doubtful accounts	$ 211	$ 260
Common units issued	266,165,000
Common units outstanding	266,165,000

Statements of Consolidated Equi

Statements of Consolidated Equity and Partners' Capital (Unaudited) - USD ($) $ in Thousands		Total		Parent Net Investment	Common Units	Noncontrolling Interests in Consolidated Subsidiaries
Beginning Balance at Dec. 31, 2013	[1]	$ 1,112,460		$ 283,793		$ 828,667
Increase (Decrease) in Partners' Capital
Net Income	[1]	101,246	[2],[3]	55,161		46,085
Capital contribution	[1]	500		500
Equity-based compensation plans	[1]	1,967		1,967
Distributions to noncontrolling interests	[1]	(25,673)				(25,673)
Issuance of units	[1]	(1,180,000)		(1,180,000)
Net contributions from EQT	[1]	84,225		84,225
EQM equity transactions	[1],[4]	961,451		59,000		902,451
Ending Balance at Jun. 30, 2014	[1]	1,056,176		(695,354)	$ 0	1,751,530
Beginning Balance at Dec. 31, 2014	[1]	1,011,998	[5]	(775,342)	0	1,787,340
Increase (Decrease) in Partners' Capital
Net Income	[1]	166,520	[2],[3]	42,238	20,353	103,929
Capital contribution	[1]	1,748		1,748
Equity-based compensation plans	[1]	914		247	118	549
Distributions to noncontrolling interests	[1]	(52,672)				(52,672)
Issuance of units	[1]	(925,683)		(925,683)
EQM equity transactions	[1],[4]	749,082		52,500		696,582
Net distributions to EQT	[1]	272,557		272,557
Changes in ownership of EQM, net	[1]	(72,954)		119,926		(192,880)
Elimination of net current and deferred tax liabilities	[1]	(164,586)		(164,586)
Elimination of net current and deferred taxes upon IPO	[1]			1,376,395	(1,376,395)
Ending Balance at Jun. 30, 2015	[1]	$ 986,924	[5]	$ 0	$ (1,355,924)	$ 2,342,848
[1]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[2]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[3]	Financial statements for the six months ended June 30, 2015 and the three and six months ended June 30, 2014 have been retrospectively recast to reflect the inclusion of the Northern West Virginia Marcellus gathering system (NWV Gathering). See Note B.
[4]	Includes the impact of EQM's public equity offerings and units issued in connection with acquisitions from EQT as described in Note B.
[5]	Financial statements as of December 31, 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.

Financial Statements

Financial Statements	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statements	Financial Statements Organization On May 15, 2015, EQT GP Holdings, LP (EQGP) completed its initial public offering (IPO). EQGP was formed in January 2015 as a Delaware limited partnership and wholly owned subsidiary of EQT Gathering Holdings, LLC (EQT Gathering Holdings), a Delaware limited liability company and wholly owned subsidiary of EQT Corporation (EQT). EQGP was formed to own EQT's partnership interests in EQT Midstream Partners, LP (EQM), a growth-oriented Delaware limited partnership formed by EQT to own, operate, acquire and develop midstream assets in the Appalachian Basin. EQT Midstream Services, LLC (EQM General Partner) is a wholly owned subsidiary of EQGP and is EQM's general partner. EQT GP Services, LLC (EQGP General Partner) is a wholly owned subsidiary of EQT and is EQGP's general partner. As of June 30, 2015 , EQGP owned the following three types of EQM partnership interests: (i) 21,811,643 EQM common units, representing a 30.2% limited partner interest in EQM, (ii) 1,443,015 EQM general partner units, representing a 2.0% general partner interest in EQM, and (iii) all of EQM's incentive distribution rights (IDRs), which entitle EQGP to receive up to 48.0% of incremental cash distributed by EQM if certain target distribution levels are reached in any quarter. For accounting purposes, the historical financial statements of EQGP for the time periods prior to the completion of the IPO (the Predecessor) include the assets, liabilities and results of operations of EQM General Partner and EQT Midstream Investments, LLC (EQM LP). Prior to the IPO, EQM General Partner and EQM LP were wholly owned subsidiaries of EQT and directly held EQT's partnership interests in EQM. Prior to the closing of the IPO, EQM LP merged with and into EQGP and EQT contributed 100% of the outstanding limited liability company interests in EQM General Partner to EQGP. EQGP and EQM do not have any employees. Administrative support for EQGP is provided by EQT. Operational support for EQM is provided by EQT. 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 EQGP as of June 30, 2015 and December 31, 2014 , the results of its operations for the three and six months ended June 30, 2015 and 2014 and its cash flows and equity and partners' capital for the six months ended June 30, 2015 and 2014 . Certain previously reported amounts have been reclassified to conform to the current year presentation. The balance sheet at December 31, 2014 , 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. EQGP has no independent operations and EQGP's only cash-generating assets consist of its partnership interests in EQM. EQGP’s financial statements differ from those of EQM primarily as a result of: (i) the presentation of noncontrolling interest ownership in EQM attributable to the publicly held limited partner interests in EQM, (ii) general and administrative expenses incurred by EQGP, which are separate from and in addition to those incurred by EQM, and (iii) incremental income tax expense as applicable to the period prior to the EQGP IPO (see Note F). Because EQM General Partner is a wholly owned subsidiary of EQGP and controls EQM through its general partner interest, EQM is consolidated by EQGP. As discussed in Note B, EQGP's financial statements include the historical results of the Jupiter natural gas gathering system (Jupiter), which was acquired by EQM on May 7, 2014, and NWV Gathering, which was acquired by EQM on March 17, 2015. NWV Gathering and Jupiter were businesses and the NWV Gathering Acquisition and Jupiter Acquisition (defined in Note B) were transactions between entities under common control; therefore, EQM recorded the assets and liabilities of NWV Gathering and Jupiter at their carrying amounts to EQT on the date of the respective transactions. The difference between EQT’s net carrying amount and the total consideration paid to EQT was recorded as a capital transaction with EQT, which resulted in a reduction in partners’ capital. EQM recast its consolidated financial statements to retrospectively reflect the NWV Gathering Acquisition and Jupiter Acquisition as if the entities were owned for all periods presented; however, the consolidated financial statements are not necessarily indicative of the results of operations that would have occurred if EQM had owned them during the periods reported. Due to the seasonal nature of EQM’s utility customer contracts, the interim statements for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . For further information, refer to the EQGP Predecessor audited financial statements and footnotes thereto for the year ended December 31, 2014 included in EQGP's prospectus dated May 11, 2015 and filed with the SEC on May 12, 2015 pursuant to Rule 424(b)(4) of the Securities Act of 1933, as amended, as well as "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. Recently Issued Accounting Standards In May 2014, the FASB issued Accounting Standards Update (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 to which the entity expects to be entitled in exchange for those goods or services. ASU No. 2014-09 will replace most of the existing revenue recognition requirements in GAAP when it becomes effective. In July 2015, the FASB approved the deferral of the effective date of this ASU to annual reporting periods beginning after December 15, 2017, with the option to adopt as early as annual reporting periods beginning after December 15, 2016. EQGP is currently evaluating the method of adoption and impact this standard will have on its financial statements and related disclosures. In February 2015, the FASB issued ASU No. 2015-02, Consolidation . The standard changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The ASU will be effective for annual reporting periods beginning after December 15, 2015, including interim periods therein. EQGP is currently evaluating the impact this standard will have on its financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement . The ASU adds guidance that will help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement. The ASU will be effective for annual reporting periods beginning after December 15, 2015. EQGP is currently evaluating the impact this standard will have on its financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-06, Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions . The ASU applies to master limited partnerships that receive net assets through a dropdown transaction. EQGP has adopted this standard which had no significant impact on reported results or disclosures.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Acquisitions	Acquisitions NWV Gathering Acquisition On March 10, 2015 , EQM entered into a contribution and sale agreement (Contribution Agreement) pursuant to which, on March 17, 2015, EQT contributed NWV Gathering to EQM Gathering Opco, LLC (EQM Gathering), an indirect wholly owned subsidiary of EQM (the NWV Gathering Acquisition). EQM paid total consideration of approximately $925.7 million to EQT, consisting of approximately $873.2 million in cash, 511,973 EQM common units and 178,816 EQM general partner units. The cash portion of the purchase price was funded with the net proceeds from an equity offering of EQM common units and borrowings under EQM's credit facility. On April 15, 2015 , pursuant to the Contribution Agreement, EQM acquired a preferred interest in EQT Energy Supply, LLC, (the Preferred Interest), an indirect wholly owned subsidiary of EQT that generates revenue from services provided to a local distribution company, from EQT for approximately $124.3 million . EQM accounts for the Preferred Interest as a cost method investment and included it in other assets on the consolidated balance sheets. EQT Energy Supply, LLC has been determined to be a variable interest entity because it has insufficient equity to finance its activities. EQM is not the primary beneficiary because it does not have the power to direct the activities of EQT Energy Supply, LLC that most significantly impact its economic performance. MVP Interest Acquisition On March 30, 2015, EQM assumed 100% of the membership interests in MVP Holdco, LLC (MVP Holdco), an indirect wholly owned subsidiary of EQT that owns an approximately 55% interest (the MVP Interest) in Mountain Valley Pipeline, LLC (MVP Joint Venture) for approximately $54.2 million (MVP Interest Acquisition), which represented EQM's reimbursement to EQT for 100% of the capital contributions made by EQT to the MVP Joint Venture as of March 30, 2015. The MVP Joint Venture plans to construct the Mountain Valley Pipeline (MVP) project, an estimated 300 -mile natural gas interstate pipeline spanning from northern West Virginia to southern Virginia. The MVP project is subject to FERC approval. The voluntary pre-filing process with the FERC began in October 2014 and the pipeline is expected to be in-service during the fourth quarter of 2018. The MVP Joint Venture has been determined to be a variable interest entity because the MVP Joint Venture has insufficient equity to finance activities during the construction stage of the MVP. 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. EQM accounted for the MVP Interest beginning on the date it was assumed from EQT as an equity method investment. On March 11, 2015, the MVP Joint Venture announced that WGL Holdings, Inc. and Vega Energy Partners, Ltd. had acquired 7% and 3% ownership interests, respectively, in the MVP Joint Venture. As a result, EQM was reimbursed $8.3 million of capital contributions. Jupiter Acquisition On April 30, 2014, EQM entered into a contribution agreement pursuant to which, on May 7, 2014, EQT contributed to EQM Gathering certain assets constituting the Jupiter natural gas gathering system (Jupiter Acquisition). The aggregate consideration paid by EQM to EQT in connection with the Jupiter Acquisition was approximately $1,180 million , consisting of a $1,121 million cash payment and issuance of 516,050 EQM common units and 262,828 EQM general partner units. The cash portion of the purchase price was funded with the net proceeds from an equity offering of EQM common units and borrowings under EQM’s credit facility.

Equity and Partners' Capital

Equity and Partners' Capital	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Equity and Partners' Capital	Equity and Partners' Capital Holdings of EQGP Equity On May 15, 2015, EQGP completed its IPO of 26,450,000 common units representing limited partner interests. All of the common units sold in the IPO were sold by EQT Gathering Holdings. EQGP did not receive any proceeds from, or incur any expenses in connection with, the completion of the IPO. As the selling unitholder, EQT Gathering Holdings received all proceeds from EQGP's IPO. As of June 30, 2015 , EQT indirectly held 239,715,000 EQGP common units, representing a 90.1% limited partner interest in EQGP, and the entire non-economic general partner interest in EQGP. As of June 30, 2015 , the public held 26,450,000 EQGP common units, representing a 9.9% limited partner interest in EQGP. Net Income Per Limited Partner Unit For EQGP, net income per limited partner unit is calculated by dividing the limited partners' interest in net income by the weighted average number of common units outstanding. Net income attributable to periods prior to the closing of EQGP's IPO is attributable to subsidiaries of EQT and has been excluded from the limited partners' interest in net income. Net income per limited partner unit for the 47 -day period beginning on the date EQGP's IPO closed through June 30, 2015 was calculated based on the number of units outstanding after the IPO. Holdings of EQM Equity As of June 30, 2015 , EQGP and its affiliates held 21,811,643 EQM common units, representing a 30.2% limited partner interest, 1,443,015 EQM general partner units, representing the 2.0% general partner interest, and all of the IDRs in EQM. As of June 30, 2015 , the public held 48,896,063 EQM common units, representing a 67.8% limited partner interest in EQM. The following table summarizes EQM's common, subordinated and general partner units issued January 1, 2014 through June 30, 2015 : EQM Limited Partner Units EQM General Partner Units Common Subordinated Total Balance at January 1, 2014 30,468,902 17,339,718 975,686 48,784,306 May 2014 equity offering 12,362,500 — — 12,362,500 Jupiter Acquisition consideration (see Note B) 516,050 — 262,828 778,878 Balance at December 31, 2014 43,347,452 17,339,718 1,238,514 61,925,684 Conversion of subordinated units to common units 17,339,718 (17,339,718 ) — — 2014 EQM VDA issuance 21,063 — 430 21,493 March 2015 equity offering 9,487,500 — 25,255 9,512,755 NWV Gathering Acquisition consideration (see Note B) 511,973 — 178,816 690,789 Balance at June 30, 2015 70,707,706 — 1,443,015 72,150,721 In connection with EQM's IPO in 2012, EQM issued 17,339,718 subordinated units to EQM LP. The subordination period with respect to all 17,339,718 EQM subordinated units expired on February 17, 2015. As a result, all of the outstanding EQM subordinated units converted into EQM common units on a one -for-one basis on February 17, 2015. In February 2015, EQM issued 21,063 common units under the 2014 EQM Value Driver Award (2014 EQM VDA). As a result, EQT purchased 430 EQM general partner units to maintain its 2.0% general partner interest in EQM. On March 17, 2015 , EQM completed an underwritten public offering of 8,250,000 common units. On March 18, 2015 , the underwriters exercised their option to purchase 1,237,500 additional common units on the same terms as the offering. EQM received net proceeds of approximately $696.6 million after deducting the underwriters' discount and offering expenses which were used to finance a portion of the cash consideration paid to EQT in connection with the NWV Gathering Acquisition. As a result of the sale of the additional common units, EQT purchased 25,255 EQM general partner units for approximately $1.9 million to maintain its 2.0% general partner interest in EQM. In connection with the March 17, 2015 underwritten public offering by EQM, EQGP recorded a $122.8 million gain to parent net investment, a decrease in non-controlling interest of EQM of $195.8 million and an increase to deferred tax liability of $73.0 million . This transaction was classified as non-cash and is not included on the consolidated statement of cash flows for the six months ended June 30, 2015 .

Financial Information by Busine

Financial Information by Business Segment	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Financial Information by Business Segment	Financial Information by Business Segment EQGP has no independent operations or material assets other than its partnership interests in EQM. As a result, the segment information presented below aligns with the presentation of EQM's operating segments. Operating segments are revenue-producing components of the enterprise for which separate financial information is produced internally and is subject to evaluation by the chief operating decision maker in deciding how to allocate resources. EQM reports its operations in two segments, which reflect its lines of business. Transmission and storage includes EQM’s FERC-regulated interstate pipeline and storage business. Gathering includes EQM's high-pressure gathering lines and FERC-regulated low pressure gathering system. The operating segments are evaluated on their contribution to EQM’s operating income. All of EQM’s operating revenues, income from operations and assets are generated or located in the United States. Three Months Ended Six Months Ended 2015 2014 2015 2014 (Thousands) Revenues from external customers (including affiliates): Transmission and storage $ 68,140 $ 59,125 $ 147,501 $ 118,442 Gathering 76,473 50,202 151,923 98,793 Total $ 144,613 $ 109,327 $ 299,424 $ 217,235 Operating income: Transmission and storage $ 45,917 $ 41,982 $ 103,207 $ 84,019 Gathering 55,479 30,418 110,941 60,998 Headquarters (1,038 ) — (1,038 ) — Total operating income $ 100,358 $ 72,400 $ 213,110 $ 145,017 Reconciliation of operating income to net income: Equity income 394 — 394 — Other income 1,169 559 1,883 828 Interest expense 11,640 6,629 23,097 12,284 Income tax expense 5,436 13,705 25,770 32,315 Net income $ 84,845 $ 52,625 $ 166,520 $ 101,246 June 30, 2015 December 31, 2014 (Thousands) Segment assets: Transmission and storage $ 998,173 $ 928,864 Gathering 863,350 765,090 Total operating segments $ 1,861,523 $ 1,693,954 Headquarters, including cash 175,959 432,725 Total assets $ 2,037,482 $ 2,126,679 Three Months Ended Six Months Ended 2015 2014 2015 2014 (Thousands) Depreciation and amortization: Transmission and storage $ 7,017 $ 6,322 $ 13,785 $ 12,481 Gathering 5,241 4,114 10,400 7,952 Total $ 12,258 $ 10,436 $ 24,185 $ 20,433 Expenditures for segment assets: Transmission and storage $ 58,020 $ 25,080 $ 79,482 $ 39,081 Gathering 69,029 56,406 105,298 90,855 Total (1) $ 127,049 $ 81,486 $ 184,780 $ 129,936 (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 on the statements of consolidated cash flows until they are paid in a subsequent period. Accrued capital expenditures were $27.0 million and $14.4 million at June 30, 2015 and 2014 , respectively. Additionally, EQM capitalizes certain labor overhead costs which include a portion of non-cash equity-based compensation. These non-cash capital expenditures in the table above were less than $0.1 million and approximately $0.1 million for the three months ended June 30, 2015 and 2014 , respectively, and less than $0.1 million and approximately $0.2 million for the six months ended June 30, 2015 and 2014 , respectively.

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions In the ordinary course of business, EQGP and EQM have transactions with affiliated companies. EQM has various contracts with affiliates including, but not limited to, transportation service and precedent agreements, storage agreements and gas gathering agreements. EQGP and EQM have various agreements with EQT. EQGP and EQM each have an omnibus agreement with EQT pursuant to which EQT performs various services for them. These services include, as applicable, centralized corporate, general and administrative services, such as legal, corporate recordkeeping, planning, budgeting, regulatory, accounting, billing, business development, treasury, insurance administration and claims processing, risk management, health, safety and environmental, information technology, human resources, investor relations, cash management and banking, payroll, internal audit, taxes, and engineering. In exchange, EQGP and EQM reimburse EQT for the expenses incurred in providing these services. EQGP and EQM are required to reimburse EQT for the allocable portion of the premiums on any insurance policies covering EQGP or EQM assets. Effective January 1, 2015, EQM amended its omnibus agreement to provide for reimbursement by EQM of direct and indirect costs and expenses attributable to EQT's long-term incentive programs as these plans will be utilized to compensate and retain EQT employees who provide services to EQM. Pursuant to an operation and management services agreement, EQT Gathering, LLC, a wholly owned subsidiary of EQT, provides EQM’s pipelines and storage facilities with certain operational and management services. EQM reimburses EQT Gathering for such services pursuant to the terms of the EQM omnibus agreement. The expenses for which EQGP and EQM reimburse EQT and its subsidiaries may not necessarily reflect the actual expenses that EQGP or EQM would incur on a stand-alone basis and EQGP and EQM are unable to estimate what those expenses would be on a stand-alone basis. See also Note B for a discussion of the MVP Joint Venture and the Preferred Interest in EQT Energy Supply, LLC and see Note G for a discussion of EQGP's Working Capital Loan Agreement with EQT.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Predecessor's financial statements for the period prior to EQGP's IPO include U.S. federal and state income tax as its income was included as part of EQT's consolidated return for federal and state income tax purposes. Current federal tax obligations of all subsidiary companies are settled through EQT. The consolidated federal income tax is allocated among the group’s members on a separate return basis with tax credits allocated to the members generating the credits. In connection with the completion of the EQGP IPO and EQGP 's limited partnership structure for U.S. federal and state income tax purposes, approximately $164.6 million of net current and deferred income taxes were eliminated through equity. Subsequent to May 15, 2015, for federal and state income tax purposes, all income, expenses, gains, losses and tax credits generated by EQGP will flow through to EQGP's unitholders, and accordingly, will not result in a provision for income taxes for EQGP. For the period prior to EQGP's IPO, EQGP estimated an annual effective tax rate based on projected results for the year and applied this rate to income before taxes to calculate income tax expense. All of EQM's earnings were included in EQGP's net income. However, EQGP was not required to record income tax expense with respect to the portion of EQM's earnings allocated to its noncontrolling public limited partners, which reduced EQGP's effective tax rate. EQGP's effective income tax rate for the six months ended June 30, 2015 was 13.4% , compared to 24.2% for the six months ended June 30, 2014 . The decrease in the effective tax rate was primarily attributable to the increase in EQM's earnings allocated to the noncontrolling limited partners resulting from EQM's underwritten public offerings of common units in May 2014 and March 2015 in addition to the EQGP IPO on May 15, 2015.

Short-term Loans

Short-term Loans	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Short-term Loans	Short-term Loans EQGP Working Capital Facility On May 15, 2015 in connection with the closing of EQGP's IPO, EQGP entered into a Working Capital Loan Agreement with EQT (the Working Capital Facility). The Working Capital Facility provides for interest bearing loans of up to $50 million outstanding at any one time and matures on the earlier of February 18, 2019 or at least 90 days after EQT gives notice of termination. As of June 30, 2015 , EQGP had no loans or letters of credit outstanding under the Working Capital Facility. EQM Credit Facility EQM has a $750 million credit facility that expires in February 2019. The credit facility is available to fund working capital requirements and capital expenditures, to purchase assets, to pay distributions, to repurchase units and for general partnership purposes. As of June 30, 2015 , EQM had $312 million outstanding on the credit facility. There were no amounts outstanding as of December 31, 2014. The maximum amount of EQM’s outstanding short-term loans at any time during the three months ended June 30, 2015 and 2014 was $323 million and $450 million , respectively, and during the six months ended June 30, 2015 and 2014 was $390 million and $450 million , respectively. The average daily balance of short-term loans outstanding was approximately $302 million and $252 million for the three months ended June 30, 2015 and 2014 , respectively, and was approximately $182 million and $173 million for the six months ended June 30, 2015 and 2014 , respectively. Interest was incurred on the loans at a weighted average annual interest rate of 1.69% and 1.66% for the three months ended June 30, 2015 and 2014 , respectively, and 1.69% and 1.68% for the six months ended June 30, 2015 and 2014 , respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying value 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. The carrying value of short-term loans under EQM's credit facility approximates fair value as the interest rates are based on prevailing market rates. As of June 30, 2015 and December 31, 2014 , the estimated fair value of EQM's long-term debt was approximately $472 million and $496 million , respectively, and the carrying value of EQM's long-term debt was approximately $493 million .

Distributions

Distributions	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Distributions	Distributions EQGP Partnership Distributions EQGP’s partnership agreement requires EQGP to distribute all of its available cash (as defined in EQGP's partnership agreement) to EQGP unitholders within 55 days of the end of each quarter, beginning with the quarter ended June 30, 2015 . On July 21, 2015 , the Board of Directors of EQGP General Partner declared an initial cash distribution to EQGP’s unitholders for the second quarter of 2015 of $0.04739 per common unit. The cash distribution was pro-rated for the 47 -day period from the date of the closing of EQGP's IPO on May 15, 2015 to June 30, 2015 . The cash distribution will be paid on August 24, 2015 to unitholders of record at the close of business on August 4, 2015 . EQM Partnership Distributions EQM's partnership agreement requires EQM to distribute all of its available cash (as defined in EQM's partnership agreement) to EQM unitholders of record on the applicable record date within 45 days after the end of each quarter. EQM declared the following cash distributions to its unitholders, including distributions to EQGP, for the periods presented: Quarter Ended EQM Total Quarterly Distribution per Common Unit EQM Total Quarterly Cash Distribution EQM Quarterly Distribution to Noncontrolling Interests EQM Date of Distribution (Thousands, except per unit data) 2014 March 31 $0.49 $24,950 $13,241 May 2014 June 30 $0.52 $34,100 $20,482 August 2014 2015 March 31 $0.61 $52,222 $29,827 May 2015 June 30 (1) $0.64 $56,464 $31,293 August 2015 (1) On July 21, 2015 , the Board of Directors of EQM General Partner declared a cash distribution to EQM unitholders for the second quarter of 2015 of $0.64 per common unit, $1.1 million to EQM General Partner related to its 2.0% EQM general partner interest and $10.1 million to EQM General Partner related to its incentive distribution rights. The cash distribution will be paid on August 14, 2015 to unitholders of record at the close of business on August 4, 2015 .

Equity and Partners' Capital (T

Equity and Partners' Capital (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of Common Units, Subordinated Units and General Partner Units Issued	The following table summarizes EQM's common, subordinated and general partner units issued January 1, 2014 through June 30, 2015 : EQM Limited Partner Units EQM General Partner Units Common Subordinated Total Balance at January 1, 2014 30,468,902 17,339,718 975,686 48,784,306 May 2014 equity offering 12,362,500 — — 12,362,500 Jupiter Acquisition consideration (see Note B) 516,050 — 262,828 778,878 Balance at December 31, 2014 43,347,452 17,339,718 1,238,514 61,925,684 Conversion of subordinated units to common units 17,339,718 (17,339,718 ) — — 2014 EQM VDA issuance 21,063 — 430 21,493 March 2015 equity offering 9,487,500 — 25,255 9,512,755 NWV Gathering Acquisition consideration (see Note B) 511,973 — 178,816 690,789 Balance at June 30, 2015 70,707,706 — 1,443,015 72,150,721

Financial Information by Busi18

Financial Information by Business Segment (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of revenue from external customers and operating income and reconciliation to net income	All of EQM’s operating revenues, income from operations and assets are generated or located in the United States. Three Months Ended Six Months Ended 2015 2014 2015 2014 (Thousands) Revenues from external customers (including affiliates): Transmission and storage $ 68,140 $ 59,125 $ 147,501 $ 118,442 Gathering 76,473 50,202 151,923 98,793 Total $ 144,613 $ 109,327 $ 299,424 $ 217,235 Operating income: Transmission and storage $ 45,917 $ 41,982 $ 103,207 $ 84,019 Gathering 55,479 30,418 110,941 60,998 Headquarters (1,038 ) — (1,038 ) — Total operating income $ 100,358 $ 72,400 $ 213,110 $ 145,017 Reconciliation of operating income to net income: Equity income 394 — 394 — Other income 1,169 559 1,883 828 Interest expense 11,640 6,629 23,097 12,284 Income tax expense 5,436 13,705 25,770 32,315 Net income $ 84,845 $ 52,625 $ 166,520 $ 101,246
Schedule of segment assets	June 30, 2015 December 31, 2014 (Thousands) Segment assets: Transmission and storage $ 998,173 $ 928,864 Gathering 863,350 765,090 Total operating segments $ 1,861,523 $ 1,693,954 Headquarters, including cash 175,959 432,725 Total assets $ 2,037,482 $ 2,126,679
Schedule of depreciation, depletion and amortization and expenditures for segment assets	Three Months Ended Six Months Ended 2015 2014 2015 2014 (Thousands) Depreciation and amortization: Transmission and storage $ 7,017 $ 6,322 $ 13,785 $ 12,481 Gathering 5,241 4,114 10,400 7,952 Total $ 12,258 $ 10,436 $ 24,185 $ 20,433 Expenditures for segment assets: Transmission and storage $ 58,020 $ 25,080 $ 79,482 $ 39,081 Gathering 69,029 56,406 105,298 90,855 Total (1) $ 127,049 $ 81,486 $ 184,780 $ 129,936 (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 on the statements of consolidated cash flows until they are paid in a subsequent period. Accrued capital expenditures were $27.0 million and $14.4 million at June 30, 2015 and 2014 , respectively. Additionally, EQM capitalizes certain labor overhead costs which include a portion of non-cash equity-based compensation. These non-cash capital expenditures in the table above were less than $0.1 million and approximately $0.1 million for the three months ended June 30, 2015 and 2014 , respectively, and less than $0.1 million and approximately $0.2 million for the six months ended June 30, 2015 and 2014 , respectively.

Distributions (Tables)

Distributions (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Summary of Cash Distributions to Unitholders	EQM declared the following cash distributions to its unitholders, including distributions to EQGP, for the periods presented: Quarter Ended EQM Total Quarterly Distribution per Common Unit EQM Total Quarterly Cash Distribution EQM Quarterly Distribution to Noncontrolling Interests EQM Date of Distribution (Thousands, except per unit data) 2014 March 31 $0.49 $24,950 $13,241 May 2014 June 30 $0.52 $34,100 $20,482 August 2014 2015 March 31 $0.61 $52,222 $29,827 May 2015 June 30 (1) $0.64 $56,464 $31,293 August 2015 (1) On July 21, 2015 , the Board of Directors of EQM General Partner declared a cash distribution to EQM unitholders for the second quarter of 2015 of $0.64 per common unit, $1.1 million to EQM General Partner related to its 2.0% EQM general partner interest and $10.1 million to EQM General Partner related to its incentive distribution rights. The cash distribution will be paid on August 14, 2015 to unitholders of record at the close of business on August 4, 2015 .

Financial Statements (Narrative

Financial Statements (Narrative) (Details)	1 Months Ended	6 Months Ended
	Apr. 30, 2015	Jun. 30, 2015partnership_interest_typeshares
Financial Statements
Number of types of partnership interests | partnership_interest_type		3
Common units outstanding		266,165,000
Percent (up to) of incremental cash distribution in any quarter		48.00%
Limited liability company interest transferred	100.00%
Limited Partner Common
Financial Statements
Common units outstanding		26,450,000
Limited partner ownership interest		9.90%
General Partner
Financial Statements
General partner ownership interest		2.00%
Affiliated Entity | Limited Partner Common
Financial Statements
Common units outstanding		21,811,643
Limited partner ownership interest		30.20%
Affiliated Entity | General Partner
Financial Statements
Number of general partner units		1,443,015
General partner ownership interest		2.00%

Acquisitions - NWV Gathering Ac

Acquisitions - NWV Gathering Acquisition (Narrative) (Details) - USD ($) $ in Thousands		Apr. 15, 2015	Mar. 17, 2015	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition [Line Items]
Cash payment	[1]			$ 45,885	$ 0
NWV Gathering
Business Acquisition [Line Items]
Consideration paid to acquire preferred interest			$ 925,700
Cash payment			$ 873,200
NWV Gathering | Partnership Interest | Common Partner Units
Business Acquisition [Line Items]
Number of units part of consideration			511,973
NWV Gathering | Partnership Interest | General Partner Units
Business Acquisition [Line Items]
Number of units part of consideration			178,816
EQT Energy Supply, LLC
Business Acquisition [Line Items]
Consideration paid to acquire preferred interest		$ 124,300
[1]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.

Acquisitions - MVP Interest Acq

Acquisitions - MVP Interest Acquisition (Narrative) (Details) $ in Millions	Mar. 30, 2015USD ($)mi	Mar. 11, 2015USD ($)
MVP Interest in Joint Venture
Business Acquisition [Line Items]
Ownership interest	100.00%
Consideration paid	$ 54.2
Reimbursed capital contributions		$ 8.3
Mountain Valley Pipeline
Business Acquisition [Line Items]
Length of pipeline (in miles) | mi	300
MVP Holdco
Business Acquisition [Line Items]
Ownership interest	100.00%
Mountain Valley Pipeline
Business Acquisition [Line Items]
Ownership interest	55.00%
EQM | WGL Holdings, Inc.
Business Acquisition [Line Items]
Ownership interest		7.00%
EQM | Vega Energy Partners, Ltd.
Business Acquisition [Line Items]
Ownership interest		3.00%

Acquisitions - Jupiter Acquisit

Acquisitions - Jupiter Acquisition (Narrative) (Details) - USD ($) $ in Thousands		May. 07, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition [Line Items]
Cash payment	[1]		$ 45,885	$ 0
Common units issued			266,165,000
EQT | Jupiter
Business Acquisition [Line Items]
Consideration paid		$ 1,180,000
Cash payment		$ 1,121,000
Common units issued		516,050
General partner units issued		262,828
[1]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.

Equity and Partners' Capital -

Equity and Partners' Capital - Holdings of EQGP Equity (Narrative) (Details) - shares	May. 15, 2015	Mar. 17, 2015	Jun. 30, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Common units outstanding			266,165,000
EQM
Class of Stock [Line Items]
Number of common units issued for IPO			9,512,755	12,362,500
Limited Partner Common
Class of Stock [Line Items]
Number of common units issued for IPO	26,450,000
Common units outstanding			26,450,000
Limited partner ownership interest			9.90%
Limited Partner Common | EQM
Class of Stock [Line Items]
Number of common units issued for IPO		8,250,000	9,487,500	12,362,500
Common units outstanding			48,896,063
Limited partner ownership interest			67.80%
Limited Partner Subordinated | EQM
Class of Stock [Line Items]
Number of common units issued for IPO			0	0
Affiliated Entity | Limited Partner Common
Class of Stock [Line Items]
Common units outstanding			21,811,643
Limited partner ownership interest			30.20%
Affiliated Entity | Limited Partner Common | EQT
Class of Stock [Line Items]
Common units outstanding			239,715,000
Limited partner ownership interest			90.10%

Equity and Partners' Capital 25

Equity and Partners' Capital - Net Income Per Limited Partner Unit (Narrative) (Details)	2 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Period for calculating net income per limited partner unit	47 days

Equity and Partners' Capital 26

Equity and Partners' Capital - Holdings of EQM Equity (Narrative) (Details) $ in Thousands		May. 15, 2015shares	Mar. 18, 2015USD ($)shares	Mar. 17, 2015USD ($)shares	Feb. 17, 2015	Feb. 28, 2015shares	Jun. 30, 2015USD ($)shares	Jun. 30, 2014USD ($)	Dec. 31, 2014shares	Dec. 31, 2012shares	Dec. 31, 2013shares
Class of Stock [Line Items]
Common units outstanding							266,165,000
Proceeds from the issuance of EQM common units, net of offering costs | $	[1]						$ 696,582	$ 902,451
Increase to deferred tax liability | $				$ 73,000
Common Units
Class of Stock [Line Items]
Gain to parent net investment in connection with IPO | $				122,800
Noncontrolling Interest
Class of Stock [Line Items]
Gain to parent net investment in connection with IPO | $				$ 195,800
EQM
Class of Stock [Line Items]
Number of general partner units							72,150,721		61,925,684		48,784,306
Conversion ratio					1
2014 EQM VDA issuance (in shares)							21,493
Equity offering (in shares)							9,512,755		12,362,500
Limited Partner Common
Class of Stock [Line Items]
Common units outstanding							26,450,000
Limited partner ownership interest							9.90%
Equity offering (in shares)		26,450,000
Limited Partner Common | EQM
Class of Stock [Line Items]
Common units outstanding							48,896,063
Limited partner ownership interest							67.80%
Number of general partner units							70,707,706		43,347,452		30,468,902
2014 EQM VDA issuance (in shares)						21,063	21,063
Equity offering (in shares)				8,250,000			9,487,500		12,362,500
Proceeds from the issuance of EQM common units, net of offering costs | $			$ 696,600
Limited Partner Common | EQM | Over-Allotment Option
Class of Stock [Line Items]
Equity offering (in shares)			1,237,500
General Partner
Class of Stock [Line Items]
General partner ownership interest							2.00%
General Partner | EQM
Class of Stock [Line Items]
Number of general partner units							1,443,015		1,238,514		975,686
2014 EQM VDA issuance (in shares)						430	430
Equity offering (in shares)							25,255		0
General Partner | EQT
Class of Stock [Line Items]
General partner ownership interest			2.00%			2.00%
Sale of general partner units | $			$ 1,900
Limited Partner Subordinated | EQM
Class of Stock [Line Items]
Number of general partner units							0		17,339,718		17,339,718
Number of units issued in connection with IPO										17,339,718
2014 EQM VDA issuance (in shares)							0
Equity offering (in shares)							0		0
Affiliated Entity | Limited Partner Common
Class of Stock [Line Items]
Common units outstanding							21,811,643
Limited partner ownership interest							30.20%
Affiliated Entity | Limited Partner Common | EQT
Class of Stock [Line Items]
Common units outstanding							239,715,000
Limited partner ownership interest							90.10%
Affiliated Entity | General Partner
Class of Stock [Line Items]
Number of general partner units							1,443,015
General partner ownership interest							2.00%
[1]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.

Equity and Partners' Capital 27

Equity and Partners' Capital - EQM's common, subordinated and general partner units issued (Details) - shares	May. 15, 2015	Mar. 17, 2015	Feb. 28, 2015	Jun. 30, 2015	Dec. 31, 2014
Limited Partners Common
Increase (Decrease) in Partners' Capital
Equity offering (in shares)	26,450,000
EQM
Increase (Decrease) in Partners' Capital
Beginning Balance (in shares)				61,925,684	48,784,306
Equity offering (in shares)				9,512,755	12,362,500
Conversion of subordinated units to common units (in shares)				0
2014 EQM VDA issuance (in shares)				21,493
Ending Balance (in shares)				72,150,721	61,925,684
EQM | Limited Partners Common
Increase (Decrease) in Partners' Capital
Beginning Balance (in shares)				43,347,452	30,468,902
Equity offering (in shares)		8,250,000		9,487,500	12,362,500
Conversion of subordinated units to common units (in shares)				17,339,718
2014 EQM VDA issuance (in shares)			21,063	21,063
Ending Balance (in shares)				70,707,706	43,347,452
EQM | Limited Partner Subordinated
Increase (Decrease) in Partners' Capital
Beginning Balance (in shares)				17,339,718	17,339,718
Equity offering (in shares)				0	0
Conversion of subordinated units to common units (in shares)				(17,339,718)
2014 EQM VDA issuance (in shares)				0
Ending Balance (in shares)				0	17,339,718
EQM | General Partner
Increase (Decrease) in Partners' Capital
Beginning Balance (in shares)				1,238,514	975,686
Equity offering (in shares)				25,255	0
Conversion of subordinated units to common units (in shares)				0
2014 EQM VDA issuance (in shares)			430	430
Ending Balance (in shares)				1,443,015	1,238,514
EQM | Jupiter
Increase (Decrease) in Partners' Capital
Acquisition consideration (in shares)					778,878
EQM | Jupiter | Limited Partners Common
Increase (Decrease) in Partners' Capital
Acquisition consideration (in shares)					516,050
EQM | Jupiter | Limited Partner Subordinated
Increase (Decrease) in Partners' Capital
Acquisition consideration (in shares)					0
EQM | Jupiter | General Partner
Increase (Decrease) in Partners' Capital
Acquisition consideration (in shares)					262,828
EQM | NWV Gathering
Increase (Decrease) in Partners' Capital
Acquisition consideration (in shares)				690,789
EQM | NWV Gathering | Limited Partners Common
Increase (Decrease) in Partners' Capital
Acquisition consideration (in shares)				511,973
EQM | NWV Gathering | Limited Partner Subordinated
Increase (Decrease) in Partners' Capital
Acquisition consideration (in shares)				0
EQM | NWV Gathering | General Partner
Increase (Decrease) in Partners' Capital
Acquisition consideration (in shares)				178,816

Financial Information by Busi28

Financial Information by Business Segment (Details) $ in Thousands		3 Months Ended				6 Months Ended
		Jun. 30, 2015USD ($)		Jun. 30, 2014USD ($)		Jun. 30, 2015USD ($)segment		Jun. 30, 2014USD ($)		Dec. 31, 2014USD ($)
Segment Information
Number of operating segments | segment						2
Revenues from external customers (including affiliates)	[1],[2]	$ 144,613		$ 109,327		$ 299,424		$ 217,235
Operating income	[1]	100,358		72,400		213,110		145,017
Equity income	[1],[3]	394		0		394	[4]	0	[4]
Other income	[1]	1,169		559		1,883		828
Interest expense	[1],[5]	11,640		6,629		23,097		12,284
Income tax expense	[1]	5,436		13,705		25,770		32,315
Net income	[1]	84,845		52,625		166,520	[4],[6]	101,246	[4],[6]
Segment assets	[7]	2,037,482				2,037,482				$ 2,126,679
Depreciation and amortization	[1]	12,258		10,436		24,185	[4]	20,433	[4]
Expenditures for segment assets		127,049	[8]	81,486	[8]	184,780		129,936
Accrued capital expenditures		27,000		14,400		27,000		14,400
Non-cash compensation costs capitalized (less than and approximately for the three and six months ended June 30, 2015 and 2014, respectively)		100		100				200
Headquarters, including cash
Segment Information
Operating income		(1,038)		0		(1,038)		0
Segment assets		175,959				175,959				432,725
Total operating segments
Segment Information
Segment assets		1,861,523				1,861,523				1,693,954
Transmission and storage
Segment Information
Revenues from external customers (including affiliates)		68,140		59,125		147,501		118,442
Operating income		45,917		41,982		103,207		84,019
Segment assets		998,173				998,173				928,864
Depreciation and amortization		7,017		6,322		13,785		12,481
Expenditures for segment assets		58,020		25,080		79,482		39,081
Gathering
Segment Information
Revenues from external customers (including affiliates)		76,473		50,202		151,923		98,793
Operating income		55,479		30,418		110,941		60,998
Segment assets		863,350				863,350				$ 765,090
Depreciation and amortization		5,241		4,114		10,400		7,952
Expenditures for segment assets		$ 69,029		$ 56,406		$ 105,298		$ 90,855
[1]	Financial statements for the six months ended June 30, 2015 and the three and six months ended June 30, 2014 have been retrospectively recast to reflect the inclusion of the Northern West Virginia Marcellus gathering system (NWV Gathering). See Note B.
[2]	Operating revenues included affiliate revenues from EQT Corporation and subsidiaries (collectively, EQT) of $107.7 million and $74.9 million for the three months ended June 30, 2015 and 2014, respectively, and $214.3 million and $147.2 million for the six months ended June 30, 2015 and 2014, respectively. See Note E.
[3]	Equity income relates to EQM's interest in Mountain Valley Pipeline, LLC, which is a related party.
[4]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[5]	Interest expense included interest on a capital lease with an affiliate of $5.9 million and $5.4 million for the three months ended June 30, 2015 and 2014, respectively, and $11.8 million and $10.3 million for the six months ended June 30, 2015 and 2014, respectively.
[6]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[7]	Financial statements as of December 31, 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.
[8]	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 on the statements of consolidated cash flows until they are paid in a subsequent period. Accrued capital expenditures were $27.0 million and $14.4 million at June 30, 2015 and 2014, respectively. Additionally, EQM capitalizes certain labor overhead costs which include a portion of non-cash equity-based compensation. These non-cash capital expenditures in the table above were less than $0.1 million and approximately $0.1 million for the three months ended June 30, 2015 and 2014, respectively, and less than $0.1 million and approximately $0.2 million for the six months ended June 30, 2015 and 2014, respectively.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Elimination of net current and deferred tax liabilities	[1]	$ 164,586
Effective Income Tax Rate Reconciliation, Percent		13.40%	24.20%
[1]	Financial statements for the six months ended June 30, 2015 and 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.

Short-term Loans (Details)

Short-term Loans (Details) - USD ($)		May. 15, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Short-term Debt [Line Items]
Short-term debt amount outstanding	[1]		$ 312,000,000		$ 312,000,000		$ 0
Line of Credit | EQM
Short-term Debt [Line Items]
Maximum borrowing capacity			750,000,000		750,000,000
Line of Credit | Working Capital Facility | EQT
Short-term Debt [Line Items]
Maximum borrowing capacity		$ 50,000,000
Notice of termination		90 days
Line of Credit | Working Capital Facility | EQT
Short-term Debt [Line Items]
Short-term debt amount outstanding			0		0
Line of Credit | Revolving Credit Facility | EQM
Short-term Debt [Line Items]
Short-term debt amount outstanding			312,000,000		312,000,000		$ 0
Short-term Debt | EQM
Short-term Debt [Line Items]
Maximum amount of outstanding short-term loans at any time during the period			323,000,000	$ 450,000,000	390,000,000	$ 450,000,000
Average daily balance of short-term loans outstanding			$ 302,000,000	$ 252,000,000	$ 182,000,000	$ 173,000,000
Interest rate			1.69%	1.66%	1.69%	1.68%
[1]	Financial statements as of December 31, 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of long-term debt	[1]	$ 493,017	$ 492,633
EQM
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of long-term debt		472,000	$ 496,000
Carrying value of long-term debt	[1]	$ 493,000
[1]	Financial statements as of December 31, 2014 have been retrospectively recast to reflect the inclusion of NWV Gathering. See Note B.

Distributions (Narrative) (Deta

Distributions (Narrative) (Details) - $ / shares		Jul. 21, 2015	Jun. 30, 2015	Jun. 30, 2015		Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015
Class of Stock [Line Items]
Cash distribution period after quarter end									55 days
Cash distributions declared per unit (in dollars per share)	[1],[2]			$ 0.04739					$ 0.04739
Pro-rated distribution period			47 days
EQM
Class of Stock [Line Items]
Cash distribution period after quarter end									45 days
Cash distributions declared per unit (in dollars per share)				$ 0.64	[3]	$ 0.61	$ 0.52	$ 0.49
Subsequent Event
Class of Stock [Line Items]
Cash distributions declared per unit (in dollars per share)		$ 0.04739
Subsequent Event | EQM
Class of Stock [Line Items]
Cash distributions declared per unit (in dollars per share)		$ 0.64
[1]	Financial statements for the six months ended June 30, 2015 and the three and six months ended June 30, 2014 have been retrospectively recast to reflect the inclusion of the Northern West Virginia Marcellus gathering system (NWV Gathering). See Note B.
[2]	Represents the cash distributions declared related to the period presented. The initial distribution has been pro-rated for the 47-day period from the date of the closing of EQGP’s IPO on May 15, 2015 to June 30, 2015. See Note I.
[3]	On July 21, 2015, the Board of Directors of EQM General Partner declared a cash distribution to EQM unitholders for the second quarter of 2015 of $0.64 per common unit, $1.1 million to EQM General Partner related to its 2.0% EQM general partner interest and $10.1 million to EQM General Partner related to its incentive distribution rights. The cash distribution will be paid on August 14, 2015 to unitholders of record at the close of business on August 4, 2015.

Distributions - Cash Distributi

Distributions - Cash Distributions Declared (Details) - USD ($) $ / shares in Units, $ in Thousands		Jul. 21, 2015	Jun. 30, 2015		Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015
Distribution Made to Limited Partner [Line Items]
EQM Total Quarterly Distribution per Common Unit	[1],[2]		$ 0.04739					$ 0.04739
General Partner
Distribution Made to Limited Partner [Line Items]
General partner's ownership interest								2.00%
Subsequent Event
Distribution Made to Limited Partner [Line Items]
EQM Total Quarterly Distribution per Common Unit		$ 0.04739
EQM
Distribution Made to Limited Partner [Line Items]
EQM Total Quarterly Distribution per Common Unit			$ 0.64	[3]	$ 0.61	$ 0.52	$ 0.49
EQM Total Quarterly Cash Distribution			$ 56,464	[3]	$ 52,222	$ 34,100	$ 24,950
EQM | Noncontrolling Interest
Distribution Made to Limited Partner [Line Items]
EQM Total Quarterly Cash Distribution			$ 31,293	[3]	$ 29,827	$ 20,482	$ 13,241
EQM | Subsequent Event
Distribution Made to Limited Partner [Line Items]
EQM Total Quarterly Distribution per Common Unit		$ 0.64
EQM | Subsequent Event | General Partner
Distribution Made to Limited Partner [Line Items]
EQM Total Quarterly Cash Distribution		$ 1,100
General partner's ownership interest		2.00%
Cash distribution related to incentive distribution rights		$ 10,100
[1]	Financial statements for the six months ended June 30, 2015 and the three and six months ended June 30, 2014 have been retrospectively recast to reflect the inclusion of the Northern West Virginia Marcellus gathering system (NWV Gathering). See Note B.
[2]	Represents the cash distributions declared related to the period presented. The initial distribution has been pro-rated for the 47-day period from the date of the closing of EQGP’s IPO on May 15, 2015 to June 30, 2015. See Note I.
[3]	On July 21, 2015, the Board of Directors of EQM General Partner declared a cash distribution to EQM unitholders for the second quarter of 2015 of $0.64 per common unit, $1.1 million to EQM General Partner related to its 2.0% EQM general partner interest and $10.1 million to EQM General Partner related to its incentive distribution rights. The cash distribution will be paid on August 14, 2015 to unitholders of record at the close of business on August 4, 2015.