Suspends Earnings Release Conference
Calls
Equitrans Midstream Corporation (NYSE: ETRN) will release its
first quarter 2024 earnings information on April 30, 2024. On March
11, 2024, ETRN announced that it has entered into a definitive
agreement to be acquired by EQT Corporation (NYSE: EQT), subject to
required regulatory approvals and clearances, approval of
shareholders of each of EQT and ETRN, and other closing conditions;
therefore, ETRN will no longer host its quarterly results
conference calls with analysts and investors.
About Equitrans Midstream Corporation
Equitrans Midstream Corporation has a premier asset footprint in
the Appalachian Basin and, as the parent company of EQM Midstream
Partners, is one of the largest natural gas gatherers in the United
States. Through its strategically located infrastructure assets in
the Marcellus and Utica regions, Equitrans has an operational focus
on gas transmission and storage systems, gas gathering systems, and
water services that support natural gas development and production
across the Basin. With a rich 140-year history in the energy
industry, Equitrans was launched as a standalone company in 2018
with a vision to be the premier midstream services provider in
North America. While working to meet America's growing need for
clean-burning energy, Equitrans is proud of its environmental,
social, and governance (ESG) practices, striving every day to
preserve and protect the environment, provide an engaging workplace
for its employees, support and enrich its local communities, and to
deliver sustained value for customers and shareholders.
Visit www.equitransmidstream.com; and to learn more about our
ESG practices visit www.csr.equitransmidstream.com
Cautionary Statements Regarding Forward Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the federal securities laws. Forward-looking
statements may be identified by words such as “anticipates,”
“believes,” “cause,” “continue,” “could,” “depend,” “develop,”
“estimates,” “expects,” “forecasts,” “goal,” “guidance,” “have,”
“impact,” “implement,” “increase,” “intends,” “lead,” “maintain,”
“may,” “might,” “plans,” “potential,” “possible,” “projected,”
“reduce,” “remain,” “result,” “scheduled,” “seek,” “should,”
“will,” “would” and other similar words or expressions. The absence
of such words or expressions does not necessarily mean the
statements are not forward-looking. Forward-looking statements are
not statements of historical fact and reflect EQT Corporation’s
(“EQT”) and Equitrans Midstream Corporation’s (“Equitrans”) current
views about future events. These forward-looking statements
include, but are not limited to, statements regarding the proposed
transaction between EQT and Equitrans, the expected closing of the
proposed transaction and the timing thereof. Information adjusted
for the proposed transaction should not be considered a forecast of
future results. Although Equitrans believes Equitrans’
forward-looking statements are reasonable, statements made
regarding future results are not guarantees of future performance
and are subject to numerous assumptions, uncertainties and risks
that are difficult to predict. Actual outcomes and results may be
materially different from the results stated or implied in such
forward-looking statements included in this press release.
Actual outcomes and results may differ materially from those
included in the forward-looking statements in this press release
due to a number of factors, including, but not limited to: the
occurrence of any event, change or other circumstances that could
give rise to the termination of the merger agreement; the
possibility that shareholders of EQT may not approve the issuance
of EQT common stock in connection with the proposed transaction;
the possibility that the shareholders of Equitrans may not adopt
the merger agreement; the risk that EQT or Equitrans may be unable
to obtain governmental and regulatory approvals required for the
proposed transaction, or required governmental and regulatory
approvals may delay the merger or result in the imposition of
conditions that could cause the parties to abandon the merger; the
risk that the parties may not be able to satisfy the conditions to
the proposed transaction in a timely manner or at all; risks
related to disruption of management’s time from ongoing business
operations due to the proposed transaction; the risk that any
announcements relating to the proposed transaction could have
adverse effects on the market price of EQT’s common stock or
Equitrans’ common stock; the risk of any unexpected costs or
expenses resulting from the proposed transaction; the risk of any
litigation relating to the proposed transaction; the risk that the
proposed transaction and its announcement could have an adverse
effect on the ability of EQT and Equitrans to retain and hire key
personnel, on the ability of EQT or Equitrans to attract
third-party customers and maintain their relationships with
derivatives and joint venture counterparties and on EQT’s and
Equitrans’ operating results and businesses generally; the risk
that problems may arise in successfully integrating the businesses
of EQT and Equitrans, which may result in the combined company not
operating as effectively and efficiently as expected; the risk that
the combined company may be unable to achieve synergies or other
anticipated benefits of the proposed transaction or it may take
longer than expected to achieve those synergies or benefits and
other important factors that could cause actual results to differ
materially from those projected; the volatility in commodity prices
for crude oil and natural gas; Equitrans’ ability to construct,
complete and place in service the Mountain Valley Pipeline project;
the effect of future regulatory or legislative actions on EQT and
Equitrans or the industry in which they operate, including the risk
of new restrictions with respect to oil and natural gas development
activities; the risk that the credit ratings of the combined
business may be different from what EQT and Equitrans expect; the
ability of management to execute its plans to meet its goals and
other risks inherent in EQT’s and Equitrans’ businesses; public
health crises, such as pandemics and epidemics, and any related
government policies and actions; the potential disruption or
interruption of EQT’s or Equitrans’ operations due to war,
accidents, political events, civil unrest, severe weather, cyber
threats, terrorist acts, or other natural or human causes beyond
EQT’s or Equitrans’ control; the combined company’s ability to
identify and mitigate the risks and hazards inherent in operating
in the global energy industry; and other factors detailed in EQT’s
and Equitrans’ Annual Reports on Form 10-K for the year ended
December 31, 2023 and subsequent Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K. All such factors are difficult to
predict and are beyond EQT’s and Equitrans’ control. Additional
risks or uncertainties that are not currently known to EQT or
Equitrans, that EQT or Equitrans currently deem to be immaterial,
or that could apply to any company could also cause actual outcomes
and results to differ materially from those included in the
forward-looking statements in this press release. EQT and Equitrans
undertake no obligation to publicly correct or update the
forward-looking statements in this press release, in other
documents or on their respective websites to reflect new
information, future events or otherwise, except as required by
applicable law. All such statements are expressly qualified by this
cautionary statement. Readers are cautioned not to place undue
reliance on these forward-looking statements that speak only as of
the date hereof.
Important Information For Investors And Shareholders;
Additional Information And Where To Find It
In connection with the proposed transaction between EQT and
Equitrans, EQT intends to file with the U.S. Securities and
Exchange Commission (the “SEC”) a registration statement on Form
S-4 (the “registration statement”) that will include a joint proxy
statement of EQT and Equitrans and that will also constitute a
prospectus of EQT (the “joint proxy statement/prospectus”). EQT and
Equitrans also intend to file other documents regarding the
proposed transaction with the SEC. This document is not a
substitute for the joint proxy statement/prospectus or the
registration statement or any other document that EQT or Equitrans
may file with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS
ARE URGED TO CAREFULLY READ THE REGISTRATION STATEMENT, THE JOINT
PROXY STATEMENT/PROSPECTUS, AND ALL OTHER RELEVANT DOCUMENTS FILED
OR THAT MAY BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED
TRANSACTION, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE
DOCUMENTS, AS THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL
CONTAIN IMPORTANT INFORMATION ABOUT EQT, EQUITRANS, THE PROPOSED
TRANSACTION, THE RISKS THERETO AND RELATED MATTERS. After the
registration statement has been declared effective, a definitive
joint proxy statement/prospectus will be mailed to the shareholders
of EQT and the shareholders of Equitrans. Investors will be able to
obtain free copies of the registration statement and joint proxy
statement/prospectus and other relevant documents filed or that
will be filed with the SEC by EQT or Equitrans through the website
maintained by the SEC at www.sec.gov. Copies of the documents filed
with the SEC by EQT may be obtained free of charge on EQT’s website
at www.ir.eqt.com/investor-relations. Copies of the documents filed
with the SEC by Equitrans may be obtained free of charge on
Equitrans’ website at www.ir.equitransmidstream.com.
Participants In Solicitation
EQT and Equitrans and their respective directors, executive
officers and other members of management and employees may be
deemed to be participants in the solicitation of proxies in
connection with the proposed transaction contemplated by the joint
proxy statement/prospectus. Information regarding EQT’s directors
and executive officers and their ownership of EQT’s securities is
set forth in EQT’s filings with the SEC, including EQT’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2023 and
its Definitive Proxy Statement on Schedule 14A that was filed with
the SEC on March 1, 2024. To the extent such person’s ownership of
EQT’s securities has changed since the filing of such proxy
statement, such changes have been or will be reflected on
Statements of Changes in Beneficial Ownership on Form 4 filed with
the SEC. Information regarding Equitrans’ directors and executive
officers and their ownership of Equitrans’ securities is set forth
in Equitrans’ filings with the SEC, including Equitrans’ Annual
Report on Form 10-K for the fiscal year ended December 31, 2023 and
its Definitive Proxy Statement on Schedule 14A that was filed with
the SEC on March 4, 2024. To the extent such person’s ownership of
Equitrans’ securities has changed since the filing of such proxy
statement, such changes have been or will be reflected on
Statements of Changes in Beneficial Ownership on Form 4 filed with
the SEC. Additional information regarding the interests of those
persons and other persons who may be deemed participants in the
proposed transaction may be obtained by reading the joint proxy
statement/prospectus and other relevant materials that will be
filed with the SEC regarding the proposed transaction when such
documents become available. You may obtain free copies of these
documents as described in the preceding paragraph.
No Offer Or Solicitation
This press release relates to the proposed transaction between
EQT and Equitrans. This press release is for informational purposes
only and shall not constitute an offer to sell or exchange, or the
solicitation of an offer to buy or exchange, any securities or a
solicitation of any vote or approval, in any jurisdiction, pursuant
to the proposed transaction or otherwise, nor shall there be any
sale, issuance, exchange or transfer of the securities referred to
in this document in any jurisdiction in contravention of applicable
law. No offer of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240416526344/en/
Analyst/Investor inquiries: Anthony DeFabio – Treasurer
and Director, Investor Relations 412.518.7193
adefabio@equitransmidstream.com Media inquiries: Natalie A.
Cox – Vice President, Communications and Corporate Affairs
ncox@equitransmidstream.com
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