EQT Midstream Partners, which operates a 700 mile pipeline to transmit natural gas from the Appalachian basin, registered with the SEC on Monday for a $250 million US IPO. The company, based in Pittsburgh, PA, was formed by natural gas producer EQT Corporation in January 2012. Revenue for twelve months ended 9/30/2011 was $107 million. EQT Midstream Partners plans to list on the New York Stock Exchange under the symbol EQM. Citi and Barclays are the lead underwriters on the deal.
EQT Midstream Partners is the eleventh oil and gas company to file for an IPO this year. Two companies, Dynamic Offshore (later acquired) and Platinum Energy Solutions, have postponed IPOs in recent weeks, as declining natural gas prices have led to cutbacks in spending.
