Equitrans Midstream Corp. said on March 15 its unit will buy a stake in two pipeline systems in Ohio and West Virginia from a fund managed by Morgan Stanley, in a deal worth $1.03 billion.
The unit, EQM Midstream Partners LP, will buy a 60% stake in Eureka Midstream Holdings LLC and whole of Hornet Midstream Holdings LLC.
Eureka Midstream is a 190-mile gathering header pipeline system in Ohio and West Virginia that services both dry Utica and wet Marcellus production. Hornet Midstream is a 15-mile, high-pressure gathering system in West Virginia that connects to the Eureka system.
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