EQGP 10-Q 28 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2016shares
Document and Entity Information
Entity Registrant Name	EQT GP Holdings, LP and Subsidiaries
Entity Central Index Key	1,632,933
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Units, Unit Outstanding	266,165,000
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

Statements of Consolidated Oper

Statements of Consolidated Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Operating revenues	[1],[2]	$ 180,601	$ 154,811
Operating expenses:
Operating and maintenance	[1],[3]	16,645	14,479
Selling, general and administrative	[1],[3]	17,249	15,653
Depreciation and amortization	[1],[4]	15,478	11,927
Total operating expenses	[1]	49,372	42,059
Operating income	[1]	131,229	112,752
Other income	[1],[5]	7,137	714
Interest expense	[1],[6]	10,257	11,457
Income before income taxes	[1]	128,109	102,009
Income tax expense	[1]	0	20,334
Net income	[1],[4],[7]	128,109	81,675
Net income attributable to noncontrolling interests	[1]	77,787	47,741
Net income attributable to EQT GP Holdings, LP	[1]	$ 50,322	$ 33,934
Net income per limited partner unit - basic and diluted (in dollars per share)	[1]	$ 0.19
Weighted average number of common units outstanding- basic and diluted (in shares)	[1]	266,173
Cash distributions declared per unit (in dollars per share)	[1],[8]	$ 0.134
[1]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[2]	Operating revenues included affiliate revenues from EQT of $131.4 million and $106.6 million for the three months ended March 31, 2016 and 2015, respectively.
[3]	Operating and maintenance expense included charges from EQT of $8.0 million and $7.6 million for the three months ended March 31, 2016 and 2015, respectively. Selling, general and administrative expense included charges from EQT of $15.0 million and $12.8 million for the three months ended March 31, 2016 and 2015, respectively.
[4]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[5]	For the three months ended March 31, 2016, other income included distributions received from EES of $2.8 million and equity income from the MVP Joint Venture of $1.6 million
[6]	Interest expense included interest on a capital lease with an affiliate of $5.4 million and $5.9 million for the three months ended March 31, 2016 and 2015, respectively.
[7]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[8]	Represents the cash distributions declared related to the period presented.

Statements of Consolidated Ope3

Statements of Consolidated Operations (Unaudited) (Footnotes) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Operating and maintenance expense	[1],[2]	$ 16,645	$ 14,479
Selling, general and administrative expense	[1],[2]	17,249	15,653
Dividends received		2,800
Equity income	[3]	1,589	0
Interest expense on capital lease	[1]	5,400	5,900
EQT Corporation and Subsidiaries
Affiliate revenues	[1]	131,400	106,600
Operating and maintenance expense	[1]	8,000	7,600
Selling, general and administrative expense	[1]	$ 15,000	$ 12,800
[1]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[2]	Operating and maintenance expense included charges from EQT of $8.0 million and $7.6 million for the three months ended March 31, 2016 and 2015, respectively. Selling, general and administrative expense included charges from EQT of $15.0 million and $12.8 million for the three months ended March 31, 2016 and 2015, respectively.
[3]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.

Statements of Consolidated Cash

Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	[1],[2],[3]	$ 128,109	$ 81,675
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	[1],[2]	15,478	11,927
Deferred income taxes	[2]	0	(183,840)
Equity income	[2]	(1,589)	0
AFUDC – equity	[2]	(2,472)	(714)
Non-cash long-term compensation expense	[2]	325	566
Changes in other assets and liabilities:
Accounts receivable	[2]	(593)	32
Accounts payable	[2]	(603)	(4,784)
Due to/from EQT affiliates	[2]	(16,103)	213,092
Other assets and other liabilities	[2]	(4,981)	(3,295)
Net cash provided by operating activities	[2]	117,571	114,659
Cash flows from investing activities:
Capital expenditures	[2]	(104,777)	(91,415)
MVP Interest Acquisition and capital contributions to the MVP Joint Venture	[2]	(11,430)	(54,229)
Sales of interests in the MVP Joint Venture	[2]	12,533	0
Acquisitions – net assets from EQT	[2]	0	(386,791)
Net cash used in investing activities	[2]	(103,674)	(532,435)
Cash flows from financing activities:
Proceeds from the issuance of EQM common units, net of offering costs	[2]	0	696,681
Acquisitions – purchase price in excess of net assets from EQT	[2]	0	(486,392)
Proceeds from EQM credit facility borrowings	[2]	71,000	390,000
Payments of EQM credit facility borrowings	[2]	(361,000)	(91,000)
Proceeds from the EQGP Working Capital Facility loan, net of payments	[2]	139	0
Distributions paid to noncontrolling interest owners of EQM	[2]	(39,553)	(22,845)
Net distributions to EQT	[2]	0	(23,866)
Capital lease principal payments	[2]	(2,451)	(4,477)
Distributions to EQGP unitholders	[2]	(32,472)	0
Net cash (used in) provided by financing activities	[2]	(364,337)	458,101
Net change in cash and cash equivalents	[2]	(350,440)	40,325
Cash and cash equivalents at beginning of period	[2]	350,815	171,291
Cash and cash equivalents at end of period	[2]	375	211,616
Cash paid during the period for:
Interest, net of amount capitalized	[2]	16,375	17,316
Non-cash activity during the period for:
Increase in capital lease asset/obligation	[2]	16,498	3,087
Increase in MVP investment/payable for capital contributions	[2]	13,864	0
Limited partner and general partner units issued for acquisitions	[2]	0	52,500
Net settlement of current income taxes payable with EQT	[2]	$ 0	$ 379,656
[1]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[2]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[3]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	[1]	$ 375	$ 350,815
Accounts receivable (net of allowance for doubtful accounts of $255 as of March 31, 2016 and $238 as of December 31, 2015)		17,724	17,131
Accounts receivable – affiliate		81,000	77,925
Other current assets		3,077	2,111
Total current assets		102,176	447,982
Property, plant and equipment		2,362,196	2,228,967
Less: accumulated depreciation		(274,133)	(258,974)
Net property, plant and equipment		2,088,063	1,969,993
Investments in unconsolidated entities		215,995	201,342
Other assets		14,452	14,950
Total assets		2,420,686	2,634,267
Current liabilities:
Accounts payable		46,367	35,909
Due to related party		21,154	34,196
Credit facility borrowings		9,000	299,000
Capital contribution payable to MVP Joint Venture		13,864	0
Accrued interest		3,339	8,753
Accrued liabilities		16,253	12,465
Total current liabilities		109,977	390,323
Long-term debt		493,594	493,401
Lease obligation		184,765	175,660
Other long-term liabilities		8,730	7,834
Total liabilities		797,066	1,067,218
Equity and partners’ capital:
Common units (266,165,000 issued and outstanding at March 31, 2016 and December 31, 2015)		(1,186,328)	(1,204,509)
Noncontrolling interests		2,809,948	2,771,558
Total equity and partners’ capital	[2]	1,623,620	1,567,049
Total liabilities, equity and partners’ capital		$ 2,420,686	$ 2,634,267
[1]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[2]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.

Consolidated Balance Sheets (U6

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 255	$ 238
Common units issued (in shares)	266,165,000	266,165,000
Common units outstanding (in shares)	266,165,000	266,165,000

Statements of Consolidated Equi

Statements of Consolidated Equity and Partners' Capital (Unaudited) - USD ($) $ in Thousands		Total		Partners' Capital Parent Net Investment	Partners' Capital Common Units	Noncontrolling Interests in Consolidated Subsidiaries
Beginning balance at Dec. 31, 2014	[1]	$ 1,011,998		$ (775,342)	$ 0	$ 1,787,340
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	[1]	81,675	[2],[3]	33,934		47,741
Equity-based compensation plans	[1]	571		571
Distributions to noncontrolling interest owners of EQM	[1]	(22,845)				(22,845)
Acquisitions from affiliates	[1]	(925,683)		(925,683)
Net distributions to EQT	[1]	355,790		355,790
EQM equity transactions	[1],[4]	749,181		52,500		696,681
Changes in ownership of EQM, net	[1]	(72,954)		119,557		(192,511)
Ending balance at Mar. 31, 2015	[1]	1,177,733		(1,138,673)	0	2,316,406
Beginning balance at Dec. 31, 2015	[1]	1,567,049		0	(1,204,509)	2,771,558
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	[1]	128,109	[2],[3]		50,322	77,787
Capital contribution	[1]	162			162
Equity-based compensation plans	[1]	325			169	156
Distributions to noncontrolling interest owners of EQM	[1]	(39,553)				(39,553)
Distributions to EQGP unitholders	[1]	(32,472)			(32,472)
Ending balance at Mar. 31, 2016	[1]	$ 1,623,620		$ 0	$ (1,186,328)	$ 2,809,948
[1]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[2]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[3]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[4]	Includes the impact of EQM's public equity offerings and units issued in connection with acquisitions from EQT as described in Note B.

Financial Statements

Financial Statements	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statements	Financial Statements Organization On May 15, 2015, EQGP completed its IPO. EQGP was formed in January 2015 as a Delaware limited partnership and wholly owned subsidiary of EQT Gathering Holdings, LLC (EQT Gathering Holdings), which is a Delaware limited liability company and wholly owned subsidiary of EQT. EQGP was formed to own EQT's partnership interests in 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 direct 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. 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. Prior to the IPO, EQT directly held partnership interests in EQM through wholly owned subsidiaries, including the EQM General Partner. Prior to the closing of the IPO, those subsidiaries merged with and into EQGP and EQT contributed 100% of the outstanding limited liability company interests in the EQM General Partner to EQGP. 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 March 31, 2016 and December 31, 2015 , and the results of its operations, cash flows and equity and partners' capital for the three months ended March 31, 2016 and 2015 . Certain previously reported amounts have been reclassified to conform to the current year presentation. The balance sheet at December 31, 2015 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 noncontrolling interest ownership attributable to the publicly held limited partner interests in EQM, additional expenses incurred by EQGP which include selling, general and administrative expenses, interest expense net of interest income and incremental income tax expense for the period prior to the EQGP IPO. Because the EQM General Partner is a wholly owned subsidiary of EQGP and controls EQM through its general partner interest, EQM is consolidated by EQGP. NWV Gathering was a business and the NWV Gathering Acquisition was a transaction between entities under common control; therefore, EQM recorded the assets and liabilities of NWV Gathering at their carrying amounts to EQT on the date of the transaction. 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 as if the business was 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 it during the periods reported. Due to the seasonal nature of EQM’s utility customer contracts, the interim statements for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . For further information, refer to the consolidated financial statements and footnotes thereto included in EQGP's Annual Report on Form 10-K for the year ended December 31, 2015 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 supersede most of the existing revenue recognition requirements in GAAP when it becomes effective and is required to be adopted using one of two retrospective application methods. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date which approved a one year deferral of ASU 2014-09 for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted as of the original effective date for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. 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. EQGP adopted this standard in the first quarter of 2016 which had no significant impact on reported results. See Note J for additional disclosures required as a result of the adoption of this standard. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. The changes primarily affect the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. This standard will eliminate the cost method of accounting for equity investments. The ASU will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period, with early adoption of certain provisions permitted. EQGP is currently evaluating the impact this standard will have on its financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases . The ASU requires, among other things, that lessees recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. 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. EQGP is currently evaluating the impact this standard will have on its financial statements and related disclosures.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisitions	Acquisitions NWV Gathering Acquisition On March 17, 2015, EQT contributed NWV Gathering to EQM Gathering. 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. MVP Interest Acquisition On March 30, 2015, EQM assumed from EQT 100% of the membership interests in MVP Holdco, the owner of the MVP Interest in the MVP Joint Venture, for approximately $54.2 million . The cash payment 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. See Note F. Preferred Interest Acquisition On April 15, 2015, pursuant to the NWV Gathering Acquisition contribution and sale agreement, EQM acquired the Preferred Interest in EES from EQT for approximately $124.3 million . EES generates revenue from services provided to a local distribution company. See Note F.

Equity and Partners' Capital

Equity and Partners' Capital	3 Months Ended
	Mar. 31, 2016
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 of March 31, 2016 , EQT indirectly held 239,715,000 EQGP common units, representing a 90.1% limited partner interest, and the entire non-economic general partner interest in EQGP while the public held 26,450,000 EQGP common units, representing a 9.9% limited partner interest in EQGP. Net Income Per Limited Partner Unit 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. The weighted average phantom unit awards included in the calculations of both basic and diluted weighted average limited partner units outstanding included 7,662 phantom units for the three months ended March 31, 2016 . Holdings of EQM Equity As of March 31, 2016 , EQGP and its subsidiaries owned 21,811,643 EQM common units, representing a 27.6% limited partner interest, 1,443,015 EQM general partner units, representing the 1.8% general partner interest, and all of the incentive distribution rights (IDRs) in EQM. As of March 31, 2016 , the public held 55,820,806 EQM common units, representing a 70.6% limited partner interest in EQM. The following table summarizes EQM's common, subordinated and general partner units issued from January 1, 2015 through March 31, 2016 . EQM Limited Partner Units EQM General Partner Units Common Subordinated Total Balance at January 1, 2015 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 511,973 — 178,816 690,789 $750 million "At the Market" (ATM) Program 1,162,475 — — 1,162,475 November 2015 equity offering 5,650,000 — — 5,650,000 Balance at December 31, 2015 77,520,181 — 1,443,015 78,963,196 2014 EQM VDA issuance 19,796 — — 19,796 EQM Total Return Program issuance 92,472 — — 92,472 Balance at March 31, 2016 77,632,449 — 1,443,015 79,075,464 In February 2016 , EQM issued 19,796 common units under the 2014 EQM Value Driver Award (2014 EQM VDA) and 92,472 common units under the EQM Total Return Program, which were compensation programs for EQT employees performing work for EQM. The awards were granted in January 2014 and July 2012, respectively.

Financial Information by Busine

Financial Information by Business Segment	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Financial Information by Business Segment	Financial Information by Business Segment Three Months Ended 2016 2015 (Thousands) Revenues from external customers (including affiliates): Gathering $ 93,316 $ 75,450 Transmission and storage 87,285 79,361 Total $ 180,601 $ 154,811 Operating income: Gathering $ 70,055 $ 55,462 Transmission and storage 62,131 57,290 Headquarters (957 ) — Total operating income $ 131,229 $ 112,752 Reconciliation of operating income to net income: Other income 7,137 714 Interest expense 10,257 11,457 Income tax expense — 20,334 Net income $ 128,109 $ 81,675 March 31, 2016 December 31, 2015 (Thousands) Segment assets: Gathering $ 1,028,169 $ 963,877 Transmission and storage 1,168,248 1,110,027 Total operating segments 2,196,417 2,073,904 Headquarters, including cash 224,269 560,363 Total assets $ 2,420,686 $ 2,634,267 Three Months Ended 2016 2015 (Thousands) Depreciation and amortization: Gathering $ 6,769 $ 5,159 Transmission and storage 8,709 6,768 Total $ 15,478 $ 11,927 Expenditures for segment assets: Gathering $ 69,431 $ 36,269 Transmission and storage 46,407 21,462 Total (1) $ 115,838 $ 57,731 (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 approximately $29.4 million and $17.4 million at March 31, 2016 and 2015 , respectively.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In the ordinary course of business, EQGP and EQM have transactions with EQT and its affiliates. 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 each have an omnibus agreement with EQT. Pursuant to the omnibus agreements, EQT performs centralized corporate, general and administrative services for EQGP and EQM. In exchange, EQGP and EQM reimburse EQT for the expenses incurred in providing these services, including direct and indirect costs and expenses attributable to EQT's long-term incentive programs. Pursuant to an operation and management services agreement, EQT Gathering, LLC (EQT Gathering), an indirect 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 omnibus agreement. The expenses for which EQGP and EQM reimburse EQT and its subsidiaries may not necessarily reflect the actual expenses that EQGP and 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, Note C, Note F and Note G for further discussion of related party transactions.

Investments in Unconsolidated E

Investments in Unconsolidated Entities	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities MVP Joint Venture The MVP Joint Venture plans to construct 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 March 31, 2016. 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 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, including, but not limited to, decisions about operating and construction budgets, project construction schedule, material contracts or precedent agreements, indebtedness, significant acquisitions or dispositions, material regulatory filings and strategic decisions require the approval of owners holding more than a 66 2/3% interest in the joint venture and no one member owns more than a 66 2/3% interest. EQM accounted for the MVP Interest as an equity method investment as EQM has the ability to exercise significant influence over operating and financial policies of the MVP Joint Venture. The value of the equity method investment recorded on the consolidated balance sheets was approximately $91.7 million and $77.0 million as of March 31, 2016 and December 31, 2015, respectively. On February 15, 2016, the MVP Joint Venture issued a capital call notice to MVP Holdco for a total amount of $13.9 million , of which $9.4 million was paid on April 15, 2016 and the remaining $4.5 million is expected to be paid on May 16, 2016. The capital contribution payable has been reflected on the consolidated balance sheet as of March 31, 2016 with a corresponding increase to EQM's investment in the MVP Joint Venture. For the three months ended March 31, 2016 , equity income of $1.6 million was reported in other income in the statements of consolidated operations related to EQM's portion of the MVP Joint Venture's AFUDC on construction of the MVP. On January 21, 2016, an affiliate of Consolidated Edison, Inc. (ConEd) acquired a 12.5% interest in the MVP Joint Venture, 8.5% of which was purchased from EQM. EQM received a cash payment of approximately $12.5 million which represented EQM's proportional capital contributions to the MVP Joint Venture through the date of the transaction. ConEd has the right to terminate its purchase of the interest in the MVP Joint Venture and be reimbursed for the purchase price and all capital contributions it makes to the MVP Joint Venture for a period ending no later than December 31, 2016. As of March 31, 2016, 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. Upon the FERC’s initial release to begin construction of the MVP, EQM's guarantee will terminate and EQM will be obligated to issue a new guarantee in an amount equal to 33% of MVP Holdco’s remaining obligations to make capital contributions to the MVP Joint Venture in connection with the then remaining construction budget, less, subject to certain limits, any credit assurances issued by any affiliate of EQM under such affiliate's precedent agreement with the MVP Joint Venture. As of March 31, 2016 , EQM's maximum financial statement exposure related to the MVP Joint Venture was approximately $183 million , which included the investment balance on the consolidated balance sheet as of March 31, 2016 and amounts which could have become due under the performance guarantee as of that date. Preferred Interest EES was 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 EES that most significantly impact its economic performance. The Preferred Interest was determined to be a cost method investment as EQM does not have the ability to exercise significant influence over operating and financial policies of EES. EQM received cash distributions from EES of approximately $3 million during the three months ended March 31, 2016 which were included in other income in the accompanying statements of consolidated operations. EQM expects to receive cash distributions of approximately $11 million during the year ended December 31, 2016 . As of March 31, 2016 and December 31, 2015 , the estimated fair value of EQM's Preferred Interest was approximately $145 million and $140 million , respectively, and the carrying value of EQM's Preferred Interest was approximately $124 million at both dates. The fair value of EQM's Preferred Interest is a Level 3 fair value measurement. As of March 31, 2016 , the carrying value represents EQM's maximum exposure to loss.

Credit Facility Borrowings

Credit Facility Borrowings	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Credit Facility Borrowings	Credit Facility Borrowings 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 March 31, 2016 and December 31, 2015 , EQGP had approximately $0.2 million and $0.1 million , respectively, outstanding under the Working Capital Facility which is included in due to related party on the consolidated balance sheet. The maximum amount of EQGP’s outstanding credit facility borrowings at any time during the three months ended March 31, 2016 was approximately $0.2 million . For the three months ended March 31, 2016 , the average daily balance of EQGP’s outstanding credit facility borrowings was approximately $0.1 million and interest was incurred at a weighted average annual interest rate of approximately 1.9% . 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. EQM had $9 million and $299 million outstanding on its credit facility as of March 31, 2016 and December 31, 2015 , respectively. The maximum amount of EQM’s outstanding credit facility borrowings at any time during the three months ended March 31, 2016 and 2015 was $299 million and $390 million , respectively. The average daily balance of credit facility borrowings outstanding was approximately $134 million and $60 million for the three months ended March 31, 2016 and 2015 , respectively. Interest was incurred on the credit facility borrowings at a weighted average annual interest rate of approximately 1.9% and 1.7% for the three months ended March 31, 2016 and 2015 , respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
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; these are considered Level 1 fair values. The carrying value of credit facility borrowings approximates fair value as the interest rates are based on prevailing market rates; this is considered a Level 1 fair value. As of March 31, 2016 and December 31, 2015 , the estimated fair value of EQM's long-term debt was approximately $433 million and $414 million , respectively, and the carrying value of EQM's long-term debt was approximately $494 million and $493 million , respectively. The fair value of EQM's long-term debt is a Level 2 fair value measurement. See Note F for the fair value of the Preferred Interest.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
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. Federal tax obligations of all subsidiary companies were settled through EQT. The consolidated federal income tax was allocated among the group’s members on a separate return basis with tax credits allocated to the members generating the credits. 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 three months ended March 31, 2015 was 20% . As a result of its limited partnership structure following EQGP's IPO, EQGP is not subject to federal and state income taxes. 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 the unitholders; accordingly, EQGP does not record a provision for income taxes.

Consolidated Variable Interest

Consolidated Variable Interest Entity	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated Variable Interest Entity	Consolidated Variable Interest Entity EQGP adopted ASU No. 2015-02, Consolidation, in the first quarter of 2016 and, as a result, EQGP determined EQM to be a variable interest entity. Through EQGP's ownership and control of the EQM General Partner, EQGP has the power to direct the activities that most significantly impact EQM's economic performance. In addition, through EQGP's general partner interest, IDRs and limited partner interest in EQM, EQGP has the obligation to absorb EQM's losses and the right to receive benefits from EQM in accordance with its general partner and limited partner ownership percentages and IDRs. Therefore, EQGP has a controlling financial interest in EQM, is the primary beneficiary of EQM and consolidates EQM. EQGP's only cash-generating assets consist of its partnership interests in EQM. As a result, EQGP's results of operations do not differ materially from the results of operations of EQM. The risks associated with EQM's operations are discussed in EQGP's Annual Report on Form 10-K for the year ended December 31, 2015 . See further discussion of the impact that EQGP's involvement in EQM has on EQGP's financial position, results of operations and cash flows included in EQGP's Annual Report on Form 10-K for the year ended December 31, 2015 , including in the section captioned "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. For a discussion of related party transactions, see Note 5 of Item 8 in EQGP's Annual Report on Form 10-K for the year ended December 31, 2015 . The following table presents amounts included in EQGP's consolidated balance sheets that were for the use or obligation of EQM as of March 31, 2016 and December 31, 2015 . Classification March 31, 2016 December 31, 2015 (Thousands) Assets: Cash and cash equivalents $ 368 $ 350,814 Accounts receivable 17,724 17,131 Accounts receivable – affiliate 81,000 77,925 Other current assets 2,963 1,680 Net property, plant and equipment 2,088,063 1,969,993 Investments in unconsolidated entities 215,995 201,342 Other assets 14,452 14,950 Liabilities: Accounts payable 46,094 35,868 Due to related party 20,367 33,413 Credit facility borrowings 9,000 299,000 Capital contribution payable to MVP Joint Venture 13,864 — Accrued interest 3,339 8,753 Accrued liabilities 16,253 12,194 Long-term debt 493,594 493,401 Lease obligation 184,765 175,660 Other long-term liabilities $ 8,730 $ 7,834

Distributions

Distributions	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Distributions	Distributions EQM and EQGP declared the following cash distributions to their respective unitholders for the periods presented: Quarters Ended EQM Total Quarterly Distribution per Common Unit EQM Total Quarterly Cash Distribution EQM Quarterly Distribution to Noncontrolling Interests EQGP Total Quarterly Distribution per Common Unit Date of Distribution (Thousands, except per unit amounts) 2015 March 31 $ 0.61 $ 52,222 $ 29,827 N/A May 2015 June 30 (1) 0.64 56,464 31,293 $ 0.04739 August 2015 September 30 0.675 62,396 33,790 0.104 November 2015 December 31 $ 0.71 $ 72,575 $ 39,533 $ 0.122 February 2016 2016 March 31 (2) $ 0.745 $ 78,093 $ 41,587 $ 0.134 May 2016 (1) The initial cash distribution to EQGP’s unitholders for the second quarter of 2015 of $0.04739 per common unit 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. (2) On April 26, 2016 , the Board of Directors of the EQM General Partner declared a cash distribution to EQM's unitholders for the first quarter of 2016 of $0.745 per common unit. The cash distribution will be paid on May 13, 2016 to unitholders of record, including EQGP, at the close of business on May 6, 2016 . Based on the 77,632,449 EQM common units outstanding on April 27, 2016, cash distributions to EQGP will be approximately $36.5 million consisting of: $16.3 million related to its limited partner interest, $1.4 million related to its general partner interest and $18.8 million related to its IDRs in EQM. These distribution amounts to EQGP are subject to change if EQM issues additional common units on or prior to the record date for the first quarter 2016 distribution. On April 26, 2016 , the Board of Directors of the EQGP General Partner declared a cash distribution to EQGP’s unitholders for the first quarter of 2016 of $0.134 per common unit, or approximately $35.7 million . The distribution will be paid on May 23, 2016 to unitholders of record at the close of business on May 6, 2016 .

Financial Statements (Policies)

Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	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 March 31, 2016 and December 31, 2015 , and the results of its operations, cash flows and equity and partners' capital for the three months ended March 31, 2016 and 2015 . Certain previously reported amounts have been reclassified to conform to the current year presentation. The balance sheet at December 31, 2015 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 noncontrolling interest ownership attributable to the publicly held limited partner interests in EQM, additional expenses incurred by EQGP which include selling, general and administrative expenses, interest expense net of interest income and incremental income tax expense for the period prior to the EQGP IPO. Because the EQM General Partner is a wholly owned subsidiary of EQGP and controls EQM through its general partner interest, EQM is consolidated by EQGP. NWV Gathering was a business and the NWV Gathering Acquisition was a transaction between entities under common control; therefore, EQM recorded the assets and liabilities of NWV Gathering at their carrying amounts to EQT on the date of the transaction. 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 as if the business was 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 it during the periods reported. Due to the seasonal nature of EQM’s utility customer contracts, the interim statements for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . For further information, refer to the consolidated financial statements and footnotes thereto included in EQGP's Annual Report on Form 10-K for the year ended December 31, 2015 as well as “Management's Discussion and Analysis of Financial Condition and Results of Operations” contained therein.
Recently Issued Accounting Standards	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 supersede most of the existing revenue recognition requirements in GAAP when it becomes effective and is required to be adopted using one of two retrospective application methods. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date which approved a one year deferral of ASU 2014-09 for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted as of the original effective date for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. 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. EQGP adopted this standard in the first quarter of 2016 which had no significant impact on reported results. See Note J for additional disclosures required as a result of the adoption of this standard. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. The changes primarily affect the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. This standard will eliminate the cost method of accounting for equity investments. The ASU will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period, with early adoption of certain provisions permitted. EQGP is currently evaluating the impact this standard will have on its financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases . The ASU requires, among other things, that lessees recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. 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. EQGP is currently evaluating the impact this standard will have on its financial statements and related disclosures.

Equity and Partners' Capital (T

Equity and Partners' Capital (Tables)	3 Months Ended
	Mar. 31, 2016
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 from January 1, 2015 through March 31, 2016 . EQM Limited Partner Units EQM General Partner Units Common Subordinated Total Balance at January 1, 2015 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 511,973 — 178,816 690,789 $750 million "At the Market" (ATM) Program 1,162,475 — — 1,162,475 November 2015 equity offering 5,650,000 — — 5,650,000 Balance at December 31, 2015 77,520,181 — 1,443,015 78,963,196 2014 EQM VDA issuance 19,796 — — 19,796 EQM Total Return Program issuance 92,472 — — 92,472 Balance at March 31, 2016 77,632,449 — 1,443,015 79,075,464

Financial Information by Busi21

Financial Information by Business Segment (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of revenue from external customers and operating income and reconciliation to net income	Three Months Ended 2016 2015 (Thousands) Revenues from external customers (including affiliates): Gathering $ 93,316 $ 75,450 Transmission and storage 87,285 79,361 Total $ 180,601 $ 154,811 Operating income: Gathering $ 70,055 $ 55,462 Transmission and storage 62,131 57,290 Headquarters (957 ) — Total operating income $ 131,229 $ 112,752 Reconciliation of operating income to net income: Other income 7,137 714 Interest expense 10,257 11,457 Income tax expense — 20,334 Net income $ 128,109 $ 81,675
Schedule of segment assets	March 31, 2016 December 31, 2015 (Thousands) Segment assets: Gathering $ 1,028,169 $ 963,877 Transmission and storage 1,168,248 1,110,027 Total operating segments 2,196,417 2,073,904 Headquarters, including cash 224,269 560,363 Total assets $ 2,420,686 $ 2,634,267
Schedule of depreciation and amortization and expenditures for segment assets	Three Months Ended 2016 2015 (Thousands) Depreciation and amortization: Gathering $ 6,769 $ 5,159 Transmission and storage 8,709 6,768 Total $ 15,478 $ 11,927 Expenditures for segment assets: Gathering $ 69,431 $ 36,269 Transmission and storage 46,407 21,462 Total (1) $ 115,838 $ 57,731 (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 approximately $29.4 million and $17.4 million at March 31, 2016 and 2015 , respectively.

Consolidated Variable Interes22

Consolidated Variable Interest Entity (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of consolidated variable interest entity	The following table presents amounts included in EQGP's consolidated balance sheets that were for the use or obligation of EQM as of March 31, 2016 and December 31, 2015 . Classification March 31, 2016 December 31, 2015 (Thousands) Assets: Cash and cash equivalents $ 368 $ 350,814 Accounts receivable 17,724 17,131 Accounts receivable – affiliate 81,000 77,925 Other current assets 2,963 1,680 Net property, plant and equipment 2,088,063 1,969,993 Investments in unconsolidated entities 215,995 201,342 Other assets 14,452 14,950 Liabilities: Accounts payable 46,094 35,868 Due to related party 20,367 33,413 Credit facility borrowings 9,000 299,000 Capital contribution payable to MVP Joint Venture 13,864 — Accrued interest 3,339 8,753 Accrued liabilities 16,253 12,194 Long-term debt 493,594 493,401 Lease obligation 184,765 175,660 Other long-term liabilities $ 8,730 $ 7,834

Distributions (Tables)

Distributions (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Summary of cash distributions to unitholders	EQM and EQGP declared the following cash distributions to their respective unitholders for the periods presented: Quarters Ended EQM Total Quarterly Distribution per Common Unit EQM Total Quarterly Cash Distribution EQM Quarterly Distribution to Noncontrolling Interests EQGP Total Quarterly Distribution per Common Unit Date of Distribution (Thousands, except per unit amounts) 2015 March 31 $ 0.61 $ 52,222 $ 29,827 N/A May 2015 June 30 (1) 0.64 56,464 31,293 $ 0.04739 August 2015 September 30 0.675 62,396 33,790 0.104 November 2015 December 31 $ 0.71 $ 72,575 $ 39,533 $ 0.122 February 2016 2016 March 31 (2) $ 0.745 $ 78,093 $ 41,587 $ 0.134 May 2016 (1) The initial cash distribution to EQGP’s unitholders for the second quarter of 2015 of $0.04739 per common unit 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. (2) On April 26, 2016 , the Board of Directors of the EQM General Partner declared a cash distribution to EQM's unitholders for the first quarter of 2016 of $0.745 per common unit. The cash distribution will be paid on May 13, 2016 to unitholders of record, including EQGP, at the close of business on May 6, 2016 . Based on the 77,632,449 EQM common units outstanding on April 27, 2016, cash distributions to EQGP will be approximately $36.5 million consisting of: $16.3 million related to its limited partner interest, $1.4 million related to its general partner interest and $18.8 million related to its IDRs in EQM. These distribution amounts to EQGP are subject to change if EQM issues additional common units on or prior to the record date for the first quarter 2016 distribution. On April 26, 2016 , the Board of Directors of the EQGP General Partner declared a cash distribution to EQGP’s unitholders for the first quarter of 2016 of $0.134 per common unit, or approximately $35.7 million . The distribution will be paid on May 23, 2016 to unitholders of record at the close of business on May 6, 2016 .

Financial Statements (Details)

Financial Statements (Details)	May. 15, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Limited liability company interest transferred (as a percent)	100.00%

Acquisitions - NWV Gathering Ac

Acquisitions - NWV Gathering Acquisition (Details) - NWV Gathering Acquisition $ in Millions	Mar. 17, 2015USD ($)shares
Business Acquisition [Line Items]
Consideration paid to acquire preferred interest | $	$ 925.7
Cash payment | $	$ 873.2
Partnership Interest | Common Partner Units
Business Acquisition [Line Items]
Number of units part of consideration (in shares) | shares	511,973
Partnership Interest | General Partner Units
Business Acquisition [Line Items]
Number of units part of consideration (in shares) | shares	178,816

Acquisitions - MVP Interest Acq

Acquisitions - MVP Interest Acquisition (Details) $ in Millions	Mar. 30, 2015USD ($)
MVP Interest Acquisition
Business Acquisition [Line Items]
Membership interest (as a percent)	100.00%
Consideration paid	$ 54.2
MVP Holdco
Business Acquisition [Line Items]
Membership interest (as a percent)	100.00%

Equity and Partners' Capital -

Equity and Partners' Capital - Holdings of EQGP Equity (Details) - shares	May. 15, 2015	Mar. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Common units outstanding (in shares)		266,165,000	266,165,000
Limited Partner Common
Class of Stock [Line Items]
Number of common units issued for IPO (in shares)	26,450,000
Common units outstanding (in shares)		26,450,000
Limited partner ownership interest (as a percent)		9.90%
Limited Partner Common | Affiliated Entity
Class of Stock [Line Items]
Common units outstanding (in shares)		21,811,643
Limited partner ownership interest (as a percent)		27.60%
Limited Partner Common | Affiliated Entity | EQT Corporation and Subsidiaries
Class of Stock [Line Items]
Common units outstanding (in shares)		239,715,000
Limited partner ownership interest (as a percent)		90.10%

Acquisitions - Preferred Intere

Acquisitions - Preferred Interest Acquisition (Details) $ in Millions	Apr. 15, 2015USD ($)
EQT Energy Supply, LLC
Business Acquisition [Line Items]
Consideration paid	$ 124.3

Equity and Partners' Capital 29

Equity and Partners' Capital - Net Income Per Limited Partner Unit (Details)	Mar. 31, 2016shares
Phantom Share Units (PSUs) | Limited Partner
Class of Stock [Line Items]
Weighted average phantom unit awards (in shares)	7,662

Equity and Partners' Capital 30

Equity and Partners' Capital - Holdings of EQM Equity (Details) - shares	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 29, 2016	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Common units outstanding (in shares)		266,165,000	266,165,000
EQM
Class of Stock [Line Items]
Number of general partner units (in shares)		79,075,464	78,963,196	61,925,684
2014 EQM VDA | EQM
Class of Stock [Line Items]
Common units issued (in shares)		19,796	21,493
EQM Total Return Program | EQM
Class of Stock [Line Items]
Common units issued (in shares)		92,472
Limited Partner Common
Class of Stock [Line Items]
Common units outstanding (in shares)		26,450,000
Limited partner ownership interest (as a percent)		9.90%
Limited Partner Common | EQM
Class of Stock [Line Items]
Common units outstanding (in shares)		55,820,806
Limited partner ownership interest (as a percent)		70.60%
Number of general partner units (in shares)		77,632,449	77,520,181	43,347,452
Limited Partner Common | 2014 EQM VDA | EQM
Class of Stock [Line Items]
Common units issued (in shares)	19,796	19,796	21,063
Limited Partner Common | EQM Total Return Program | EQM
Class of Stock [Line Items]
Common units issued (in shares)	92,472	92,472
General Partner | EQM
Class of Stock [Line Items]
Number of general partner units (in shares)		1,443,015	1,443,015	1,238,514
General Partner | 2014 EQM VDA | EQM
Class of Stock [Line Items]
Common units issued (in shares)		0	430
General Partner | EQM Total Return Program | EQM
Class of Stock [Line Items]
Common units issued (in shares)		0
Affiliated Entity | Limited Partner Common
Class of Stock [Line Items]
Common units outstanding (in shares)		21,811,643
Limited partner ownership interest (as a percent)		27.60%
Affiliated Entity | General Partner
Class of Stock [Line Items]
Number of general partner units (in shares)		1,443,015
General partner ownership interest (as a percent)		1.80%

Equity and Partners' Capital 31

Equity and Partners' Capital - Schedule of Holdings of EQM Equity (Details) - USD ($)	May. 15, 2015	Feb. 29, 2016	Nov. 30, 2015	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Increase (Decrease) in Partners' Capital [Roll Forward]
At the market program (in shares)						1,162,475
Common unit aggregate offering price, maximum amount						$ 750,000,000
Limited Partner Common
Increase (Decrease) in Partners' Capital [Roll Forward]
Equity offering (in shares)	26,450,000
At the market program (in shares)						1,162,475
Limited Partner Subordinated
Increase (Decrease) in Partners' Capital [Roll Forward]
At the market program (in shares)						0
General Partner
Increase (Decrease) in Partners' Capital [Roll Forward]
At the market program (in shares)						0
EQM
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)					78,963,196	61,925,684
Conversion of subordinated units to common units (in shares)						0
Equity offering (in shares)			5,650,000	9,512,755
Ending Balance (in shares)					79,075,464	78,963,196
EQM | NWV Gathering Acquisition
Increase (Decrease) in Partners' Capital [Roll Forward]
NWV Gathering Acquisition consideration (in shares)						690,789
EQM | 2014 EQM VDA
Increase (Decrease) in Partners' Capital [Roll Forward]
Common units issued (in shares)					19,796	21,493
EQM | EQM Total Return Program
Increase (Decrease) in Partners' Capital [Roll Forward]
Common units issued (in shares)					92,472
EQM | Limited Partner Common
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)					77,520,181	43,347,452
Conversion of subordinated units to common units (in shares)						17,339,718
Equity offering (in shares)			5,650,000	9,487,500
Ending Balance (in shares)					77,632,449	77,520,181
EQM | Limited Partner Common | NWV Gathering Acquisition
Increase (Decrease) in Partners' Capital [Roll Forward]
NWV Gathering Acquisition consideration (in shares)						511,973
EQM | Limited Partner Common | 2014 EQM VDA
Increase (Decrease) in Partners' Capital [Roll Forward]
Common units issued (in shares)		19,796			19,796	21,063
EQM | Limited Partner Common | EQM Total Return Program
Increase (Decrease) in Partners' Capital [Roll Forward]
Common units issued (in shares)		92,472			92,472
EQM | Limited Partner Subordinated
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)					0	17,339,718
Conversion of subordinated units to common units (in shares)						(17,339,718)
Equity offering (in shares)			0	0
Ending Balance (in shares)					0	0
EQM | Limited Partner Subordinated | NWV Gathering Acquisition
Increase (Decrease) in Partners' Capital [Roll Forward]
NWV Gathering Acquisition consideration (in shares)						0
EQM | Limited Partner Subordinated | 2014 EQM VDA
Increase (Decrease) in Partners' Capital [Roll Forward]
Common units issued (in shares)					0	0
EQM | Limited Partner Subordinated | EQM Total Return Program
Increase (Decrease) in Partners' Capital [Roll Forward]
Common units issued (in shares)					0
EQM | General Partner
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)					1,443,015	1,238,514
Conversion of subordinated units to common units (in shares)						0
Equity offering (in shares)			0	25,255
Ending Balance (in shares)					1,443,015	1,443,015
EQM | General Partner | NWV Gathering Acquisition
Increase (Decrease) in Partners' Capital [Roll Forward]
NWV Gathering Acquisition consideration (in shares)						178,816
EQM | General Partner | 2014 EQM VDA
Increase (Decrease) in Partners' Capital [Roll Forward]
Common units issued (in shares)					0	430
EQM | General Partner | EQM Total Return Program
Increase (Decrease) in Partners' Capital [Roll Forward]
Common units issued (in shares)					0

Financial Information by Busi32

Financial Information by Business Segment (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Revenues from external customers (including affiliates):
Total	[1],[2]	$ 180,601	$ 154,811
Operating income:
Total operating income	[1]	131,229	112,752
Reconciliation of operating income to net income:
Other income	[1],[3]	7,137	714
Interest expense	[1],[4]	10,257	11,457
Income tax expense	[1]	0	20,334
Net income	[1],[5],[6]	128,109	81,675
Segment assets:
Total assets		2,420,686		$ 2,634,267
Depreciation and amortization:
Total	[1],[5]	15,478	11,927
Expenditures for segment assets:
Accrued capital expenditures		29,400	17,400
Total operating segments
Revenues from external customers (including affiliates):
Total		180,601	154,811
Segment assets:
Total assets		2,196,417		2,073,904
Depreciation and amortization:
Total		15,478	11,927
Expenditures for segment assets:
Total		115,838	57,731
Total operating segments | Gathering
Revenues from external customers (including affiliates):
Total		93,316	75,450
Operating income:
Total operating income		70,055	55,462
Segment assets:
Total assets		1,028,169		963,877
Depreciation and amortization:
Total		6,769	5,159
Expenditures for segment assets:
Total		69,431	36,269
Total operating segments | Transmission and storage
Revenues from external customers (including affiliates):
Total		87,285	79,361
Operating income:
Total operating income		62,131	57,290
Segment assets:
Total assets		1,168,248		1,110,027
Depreciation and amortization:
Total		8,709	6,768
Expenditures for segment assets:
Total		46,407	21,462
Headquarters
Operating income:
Total operating income		(957)	$ 0
Segment assets:
Total assets		$ 224,269		$ 560,363
[1]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[2]	Operating revenues included affiliate revenues from EQT of $131.4 million and $106.6 million for the three months ended March 31, 2016 and 2015, respectively.
[3]	For the three months ended March 31, 2016, other income included distributions received from EES of $2.8 million and equity income from the MVP Joint Venture of $1.6 million
[4]	Interest expense included interest on a capital lease with an affiliate of $5.4 million and $5.9 million for the three months ended March 31, 2016 and 2015, respectively.
[5]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[6]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.

Investments in Unconsolidated33

Investments in Unconsolidated Entities (Details) $ in Thousands		May. 16, 2016USD ($)	Apr. 15, 2016USD ($)	Feb. 15, 2016USD ($)	Jan. 21, 2016USD ($)	Mar. 31, 2016USD ($)mi	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Capital call notice	[1]					$ 11,430	$ 54,229
Equity income	[1]					1,589	0
Sales of interests in the MVP Joint Venture	[1]					12,533	$ 0
Dividends received						2,800
Other Income
Schedule of Equity Method Investments [Line Items]
Dividends received						$ 3,000
MVP Joint Venture | Beneficial Owner
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest						66.67%
EQM
Schedule of Equity Method Investments [Line Items]
Issuance of performance guarantee						$ 91,000
EQM | Scenario, Forecast
Schedule of Equity Method Investments [Line Items]
Dividends received								$ 11,000
EQM | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Fair value of preferred interest						145,000			$ 140,000
Carrying value of preferred interest						$ 124,000			124,000
EQM | MVP Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest						45.50%
Investments in unconsolidated affiliates						$ 91,700			$ 77,000
Capital call notice				$ 13,900
Sales of interests in the MVP Joint Venture					$ 12,500
Maximum financial statement exposure						183,000
EQM | MVP Joint Venture | Variable Interest Entity, Not Primary Beneficiary | Other Income
Schedule of Equity Method Investments [Line Items]
Equity income						$ 1,600
EQM | MVP Joint Venture | Variable Interest Entity, Not Primary Beneficiary | Scenario, Forecast
Schedule of Equity Method Investments [Line Items]
Capital call notice		$ 4,500
EQM | MVP Joint Venture | Variable Interest Entity, Not Primary Beneficiary | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Capital call notice			$ 9,400
EQM | MVP
Schedule of Equity Method Investments [Line Items]
Length of pipeline (in miles) | mi						300
EQM | MVP Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Percentage of remaining obligations						33.00%
Affiliate of Consolidated Edison, Inc. | MVP Joint Venture | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Percentage of acquired interest					12.50%
Decrease in ownership interest (as a percent)					8.50%
[1]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.

Credit Facility Borrowings - EQ

Credit Facility Borrowings - EQGP Working Capital Facility (Details) - Credit facility borrowings - EQT Corporation and Subsidiaries - Working Capital Facility - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	May. 15, 2015
Short-term Debt [Line Items]
Interest bearing loans outstanding (up to)			$ 50,000,000
Interest bearing loans outstanding maturity period (at least)	90 days
Credit facility borrowings	$ 200,000	$ 100,000
Maximum amount of short term loans outstanding	200,000
Average daily balance of short term loans outstanding	$ 100,000
Weighted average annual interest rate (as a percent)	1.90%

Credit Facility Borrowings - 35

Credit Facility Borrowings - EQM Credit Facility (Details) - EQM - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Credit facility borrowings
Line of Credit Facility [Line Items]
Maximum amount of short term loans outstanding	$ 299,000,000	$ 390,000,000
Average daily balance of short term loans outstanding	$ 134,000,000	$ 60,000,000
Weighted average annual interest rate (as a percent)	1.90%	1.70%
Credit facility borrowings
Line of Credit Facility [Line Items]
Line of credit facility	$ 750,000,000
Credit facility borrowings | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, outstanding amount	$ 9,000,000		$ 299,000,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of long-term debt	$ 493,594	$ 493,401
EQM | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of long-term debt	433,000	414,000
EQM | 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	$ 494,000	$ 493,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate	20.00%

Consolidated Variable Interes38

Consolidated Variable Interest Entity (Details) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Cash and cash equivalents
Variable Interest Entity [Line Items]
Assets	$ 368	$ 350,814
Accounts receivable
Variable Interest Entity [Line Items]
Assets	17,724	17,131
Accounts receivable – affiliate
Variable Interest Entity [Line Items]
Assets	81,000	77,925
Other current assets
Variable Interest Entity [Line Items]
Assets	2,963	1,680
Net property, plant and equipment
Variable Interest Entity [Line Items]
Assets	2,088,063	1,969,993
Investments in unconsolidated entities
Variable Interest Entity [Line Items]
Assets	215,995	201,342
Other assets
Variable Interest Entity [Line Items]
Assets	14,452	14,950
Accounts payable
Variable Interest Entity [Line Items]
Liabilities	46,094	35,868
Due to related party
Variable Interest Entity [Line Items]
Liabilities	20,367	33,413
Credit facility borrowings
Variable Interest Entity [Line Items]
Liabilities	9,000	299,000
Capital contribution payable to MVP Joint Venture
Variable Interest Entity [Line Items]
Liabilities	13,864	0
Accrued interest
Variable Interest Entity [Line Items]
Liabilities	3,339	8,753
Accrued liabilities
Variable Interest Entity [Line Items]
Liabilities	16,253	12,194
Long-term debt
Variable Interest Entity [Line Items]
Liabilities	493,594	493,401
Lease obligation
Variable Interest Entity [Line Items]
Liabilities	184,765	175,660
Other long-term liabilities
Variable Interest Entity [Line Items]
Liabilities	$ 8,730	$ 7,834

Distributions - Summary of Cash

Distributions - Summary of Cash Distributions to Unitholders (Details) - USD ($) $ / shares in Units, $ in Thousands		Apr. 26, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015
Distribution Made to Limited Partner [Line Items]
Total Quarterly Distribution per Common Unit (in dollars per share)	[1],[2]		$ 0.134
EQM
Distribution Made to Limited Partner [Line Items]
Total Quarterly Distribution per Common Unit (in dollars per share)			$ 0.745	$ 0.71	$ 0.675	$ 0.64	$ 0.61
EQM Total Quarterly Cash Distribution			$ 78,093	$ 72,575	$ 62,396	$ 56,464	$ 52,222
EQM | Noncontrolling Interest
Distribution Made to Limited Partner [Line Items]
EQM Total Quarterly Cash Distribution			$ 41,587	$ 39,533	$ 33,790	$ 31,293	$ 29,827
EQGP
Distribution Made to Limited Partner [Line Items]
Total Quarterly Distribution per Common Unit (in dollars per share)			$ 0.134	$ 0.122	$ 0.104	$ 0.04739
EQGP | Subsequent Event
Distribution Made to Limited Partner [Line Items]
EQM Total Quarterly Cash Distribution		$ 35,700
[1]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[2]	Represents the cash distributions declared related to the period presented.

Distributions - Narrative (Deta

Distributions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		May. 13, 2016	Apr. 26, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Apr. 27, 2016
Class of Stock [Line Items]
Cash distributions declared per unit (in dollars per share)	[1],[2]			$ 0.134
EQGP
Class of Stock [Line Items]
Cash distributions declared per unit (in dollars per share)				0.134	$ 0.122	$ 0.104	$ 0.04739
Prorated period from date of closing							47 days
EQGP | Subsequent Event
Class of Stock [Line Items]
Cash distribution in respect of general partner interest			$ 35,700
EQM
Class of Stock [Line Items]
Cash distributions declared per unit (in dollars per share)				$ 0.745	$ 0.71	$ 0.675	$ 0.64	$ 0.61
Cash distribution in respect of general partner interest				$ 78,093	$ 72,575	$ 62,396	$ 56,464	$ 52,222
EQM | Scenario, Forecast
Class of Stock [Line Items]
Cash distribution in respect of general partner interest		$ 36,500
EQM | Scenario, Forecast | Limited Partner
Class of Stock [Line Items]
Cash distribution in respect of general partner interest		16,300
EQM | Scenario, Forecast | General Partner
Class of Stock [Line Items]
Cash distribution in respect of general partner interest		1,400
Cash distribution related to incentive distribution rights		$ 18,800
EQM | Subsequent Event
Class of Stock [Line Items]
Common units outstanding									77,632,449
[1]	Financial statements for the three months ended March 31, 2015 included the results of NWV Gathering for the entire period presented as a result of the NWV Gathering Acquisition on March 17, 2015.
[2]	Represents the cash distributions declared related to the period presented.