Equitrans: Narrow Path to Finish MVP in 2020; Hammerhead Ready 2Q

Midstreamer Equitrans, the former EQT Midstream (before EQT split itself into two companies) posted its first-quarter 2020 update yesterday and held a conference call with analysts. Of primary concern and focus for us, and most observers was an update on the company’s 303-mile Mountain Valley Pipeline (MVP) project, which is 90% built and in the ground. The remaining portions of MVP are held up by various court cases and regulatory actions. According to officials on the call, there is a “narrow path” to completing the project by the end of this year at a cost of $5.4 billion. If the timeline slips, the cost goes up.

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