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Equitrans Midstream Corporation (NYSE: ETRN) issued a correction regarding its earlier earnings call discussion. It mistakenly referred to the Proposed Energy Permitting Provisions as the Federal Permitting Reform and Jobs Act. The Proposed Energy Permitting Provisions aim to enhance energy infrastructure permitting, specifically related to the Mountain Valley Pipeline project. ETRN has a significant presence in the Appalachian Basin and operates as a leading natural gas gatherer in the U.S., focusing on gas transmission, storage, and supporting services.
Positive
Strong asset footprint in the Appalachian Basin, enhancing growth potential.
Operational focus on gas transmission, storage systems, and gathering services.
Negative
Incorrect reference to legislation may indicate internal communication issues.
CANONSBURG, Pa.--(BUSINESS WIRE)--
Equitrans Midstream Corporation (NYSE: ETRN) is issuing a correction to information discussed during its earnings call earlier today. On the call, ETRN discussed proposed legislation, a summary of which was released yesterday and has been the subject of widespread news coverage (Proposed Energy Permitting Provisions). The Proposed Energy Permitting Provisions relate to improving the energy infrastructure permitting process and specifically mention the Mountain Valley Pipeline project. ETRN incorrectly referred to the Proposed Energy Permitting Provisions as the Federal Permitting Reform and Jobs Act, a previous, separate legislative proposal introduced last year.
About Equitrans Midstream Corporation:
Equitrans Midstream Corporation (ETRN) 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 assets in the Marcellus and Utica regions, ETRN 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 135-year history in the energy industry, ETRN was launched as a standalone company in 2018 with the vision to be the premier midstream services provider in North America. ETRN is helping to meet America’s growing need for clean-burning energy, while also providing a rewarding workplace and enriching the communities where its employees live and work.
Analyst inquiries:
Nate Tetlow – Vice President, Corporate Development and Investor Relations
412.553.5834
ntetlow@equitransmidstream.com
Media inquiries:
Natalie A. Cox – Communications and Corporate Affairs
412.395.3941
ncox@equitransmidstream.com
Source: Equitrans Midstream Corporation
FAQ
What was the correction issued by Equitrans Midstream Corporation regarding its earnings call?
Equitrans corrected its earlier statement, clarifying it mistakenly referred to the Proposed Energy Permitting Provisions as the Federal Permitting Reform and Jobs Act during its earnings call.
What is the significance of the Proposed Energy Permitting Provisions for Equitrans?
The Proposed Energy Permitting Provisions aim to improve energy infrastructure permitting, particularly affecting projects like the Mountain Valley Pipeline, which is crucial for Equitrans' operations.
What are the main services provided by Equitrans Midstream Corporation?
Equitrans focuses on gas transmission, storage systems, gas gathering systems, and water services related to natural gas development in the Appalachian region.
How does the correction affect Equitrans Midstream Corporation's stock performance?
While the correction itself does not directly impact stock performance, it raises concerns regarding internal accuracy in communications, which investors may view unfavorably.
