DALLAS, Aug. 1, 2018 /PRNewswire/ -- Alerian reported index linked product positions of $15.0 billion as of June 30, 2018. Linked products include exchange-traded funds, exchange-traded notes, return of capital notes, variable insurance portfolios, and mutual funds.

Below is a full list of energy master limited partnership (MLP) positions, as of June 30, 2018, in products linked to the Alerian Index Series.

About Alerian
Alerian equips investors to make informed decisions about energy infrastructure and Master Limited Partnerships (MLPs). Its benchmarks are widely used by industry executives, investment professionals, research analysts, and national media to analyze relative performance. As of June 30, 2018, over $15 billion is directly tied to the Alerian Index Series through exchange-traded funds and notes, separately managed accounts, and structured products. For more information, including index values and constituents, research content, and announcements regarding rebalancings, please visit alerian.com.

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SOURCE Alerian

DALLAS, July 19, 2018 /PRNewswire/ -- Alerian announced today that Rice Midstream Partners (NYSE: RMP) is expected to be removed from the Alerian MLP Infrastructure Index (AMZI), Alerian Natural Gas MLP Index (ANGI), Alerian Midstream Energy Index (AMNA), Alerian US Midstream Energy Index (AMUS), Alerian MLP Index (AMZ), Alerian MLP Equal Weight Index (AMZE), and Alerian Mid Cap MLP Index (AMMI) in a special rebalancing.

Alerian also announced that NuStar GP Holdings (NYSE: NSH) is expected to be removed from the Alerian Midstream Energy Select Index (AMEI), AMNA, AMUS, and Alerian Small Cap MLP Index (AMSI). In addition, NuStar Energy (NYSE: NS) is expected to be added to the AMEI.

Special rebalancings are triggered by corporate actions such as mergers, bankruptcies, and liquidations. Pending unitholder approval, RMP will cease to trade due to its merger with EQT Midstream Partners (NYSE: EQM), and NSH will cease to trade due to its merger with NS. If approved, the rebalancing will take place one full trading day after the issuance of a press release indicating all needed merger votes have passed.

Each index will be rebalanced in accordance with its existing methodology. Constituent additions to and deletions from an index do not reflect an opinion by Alerian on the investment merits of the respective securities.

About the Alerian MLP Infrastructure Index
The Alerian MLP Infrastructure Index is a composite of energy infrastructure Master Limited Partnerships (MLPs). The capped, float-adjusted, capitalization-weighted index, whose constituents earn the majority of their cash flow from midstream activities involving energy commodities, is disseminated real-time on a price-return basis (AMZI) and on a total-return basis (AMZIX).

About the Alerian Midstream Energy Select Index
The Alerian Midstream Energy Select Index is an investable subset of the broad-based Alerian Midstream Energy Index (AMNA). The capped, float-adjusted, capitalization-weighted index, whose constituents earn the majority of their cash flow from midstream activities involving energy commodities, is disseminated real-time on a price-return basis (AMEI) and on a total-return basis (AMEIX).

About the Alerian Natural Gas MLP Index
The Alerian Natural Gas MLP Index is a composite of natural gas infrastructure Master Limited Partnerships (MLPs). The equal-weighted index, whose constituents earn the majority of their cash flow from midstream activities involving natural gas and natural gas liquids (NGLs), is disseminated real-time on a price-return basis (ANGI) and end-of-day on a total-return basis (ANGIX).

About the Alerian Midstream Energy Index
The Alerian Midstream Energy Index is a broad-based composite of North American energy infrastructure companies. The capped, float-adjusted, capitalization-weighted index, whose constituents earn the majority of their cash flow from midstream activities involving energy commodities, is disseminated real-time on a price-return basis (AMNA) and on a total-return basis (AMNAX).

About the Alerian US Midstream Energy Index
The Alerian US Midstream Energy Index is a broad-based composite of US energy infrastructure companies. The capped, float-adjusted, capitalization-weighted index, whose constituents earn the majority of their cash flow from midstream activities involving energy commodities, is disseminated real-time on a price-return basis (AMUS) and on a total-return basis (AMUSX).

About the Alerian MLP Index
The Alerian MLP Index is the leading gauge of energy Master Limited Partnerships (MLPs). The capped, float-adjusted, capitalization-weighted index, whose constituents represent approximately 85% of total float-adjusted market capitalization, is disseminated real-time on a price-return basis (AMZ) and on a total-return basis (AMZX).

About the Alerian MLP Equal Weight Index
The Alerian MLP Equal Weight Index is the equal-weighted version of the Alerian MLP Index (AMZ). The index, which includes the same companies as the float-adjusted, capitalization-weighted AMZ but allocates the same weight to each constituent at each rebalancing, is disseminated real-time on a price-return basis (AMZE) and on a total-return basis (AMZEX).

About the Alerian Mid Cap MLP Index
The Alerian Mid Cap MLP Index is a composite of mid-cap energy Master Limited Partnerships (MLPs). The capitalization-weighted index, which represents approximately 20% of total market capitalization, is disseminated real-time on a price-return basis (AMMI) and on a total-return basis (AMMIX).

About the Alerian Small Cap MLP Index
The Alerian Small Cap MLP Index is a composite of small-cap energy Master Limited Partnerships (MLPs). The capitalization-weighted index, which represents approximately 10% of total market capitalization, is disseminated real-time on a price-return basis (AMSI) and on a total return-basis (AMSIX).

About Alerian
Alerian equips investors to make informed decisions about energy infrastructure and Master Limited Partnerships (MLPs). Its benchmarks are widely used by industry executives, investment professionals, research analysts, and national media to analyze relative performance. As of June 30, 2018, over $15 billion is directly tied to the Alerian Index Series through exchange-traded funds and notes, separately managed accounts, and structured products. For more information, including index values and constituents, research content, and announcements regarding rebalancings, please visit alerian.com.

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SOURCE Alerian

DALLAS, July 13, 2018 /PRNewswire/ -- Swank Capital, LLC and Cushing^® Asset Management, LP announce an upcoming interim change to the constituents of The Cushing^® 30 MLP Index (the "Index"). On April 25, 2018, Index constituents EQT Midstream Partners, LP (NYSE: EQM) and Rice Midstream Partners LP (NYSE: RMP) entered into an agreement and plan of merger wherein EQM would acquire RMP, subject to the approval of RMP unitholders. A special meeting of RMP unitholders is scheduled for July 20, 2018, for the purpose of considering and voting on the proposed transaction. Per the Index's methodology guide, after the market closes on July 20, 2018, and effective on July 23, 2018, CNX Midstream Partners LP (NYSE: CNXM) will replace RMP as a constituent of the Index at RMP's then-current weight.

There will be no changes to the remaining constituents of the Index on that date.

ABOUT THE CUSHING^® 30 MLP INDEX

The Cushing^® 30 MLP Index tracks the performance of 30 publicly traded MLP securities that hold midstream energy infrastructure assets in North America, chosen according to a formula-based proprietary valuation model developed by Cushing^® Asset Management, LP to rank MLPs for potential inclusion in the Index. The Index price level is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPX".

ABOUT SWANK CAPITAL AND CUSHING^® ASSET MANAGEMENT

Cushing^® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies.

Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing^® MLP Market Cap Index (Bloomberg Ticker: CMCI), The Cushing^® MLP High Income Index (Bloomberg Ticker: MLPY), The Cushing^® Energy Index (Bloomberg Ticker: CENI), The Cushing^® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing^® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing^® Utility Index (Bloomberg Ticker: CUTI). For more information, please visit http://www.cushingasset.com/indices.

Contact:
Judson Redmond
214-692-6334
www.cushingasset.com

The Cushing® 30 MLP Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and, these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Swank Capital, LLC, and Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.

CUSH-MLPX

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SOURCE Cushing Asset Management, LP; Swank Capital, LLC

DALLAS, July 13, 2018 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce an upcoming interim change to the constituents of The Cushing^® MLP Market Cap Index (the "Index"). On April 25, 2018, Index constituents EQT Midstream Partners, LP (NYSE: EQM) and Rice Midstream Partners LP (NYSE: RMP) entered into an agreement and plan of merger wherein EQM would acquire RMP, subject to the approval of RMP unitholders. A special meeting of RMP unitholders is scheduled for July 20, 2018, for the purpose of considering and voting on the proposed transaction. Per the Index's methodology guide, after the market closes on July 20, 2018, and effective on July 23, 2018, Sunoco LP (NYSE: SUN) will replace RMP as a constituent of the Index at RMP's then-current weight.

There will be no changes to the remaining constituents of the Index on that date.

ABOUT THE CUSHING^® MLP MARKET CAP INDEX

The Cushing^® MLP Market Cap Index tracks the performance of widely held master limited partnerships (MLPs). The Index is weighted on a float-adjusted market capitalization basis, with the weight of each constituent capped at 7.5% at rebalance. The Index price level is calculated by S&P Dow Jones Indices while the constituents are selected from the entire universe of publicly traded MLPs.  The Cushing^® MLP Market Cap Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "CMCI".

ABOUT SWANK CAPITAL AND CUSHING^® ASSET MANAGEMENT

Cushing^® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies.

Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing^® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing^® MLP High Income Index (Bloomberg Ticker: MLPY) ), The Cushing^® Energy Index (Bloomberg Ticker: CENI), The Cushing^® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing^® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing^® Utility Index (Bloomberg Ticker: CUTI). For more information, please visit http://www.cushingasset.com/indices.

Contact:
Judson Redmond
214-692-6334
www.cushingasset.com

The Cushing® MLP Market Cap Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and, these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.

CUSH-CMCI

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SOURCE Cushing Asset Management, LP; Swank Capital, LLC

DALLAS, May 7, 2018 /PRNewswire/ -- Swank Capital, LLC and Cushing^® Asset Management, LP announce an upcoming interim change to constituents of The Cushing^® MLP High Income Index (the "Index"). Per the Index's methodology guide, a constituent change due to a distribution cut will take place on the latter of the distribution ex-date or the last business day of the week that is at least five business days after the day on which the announcement is made. Due to the April 26, 2018, distribution cut announcement by SunCoke Energy Partners, L.P. (NYSE: SXCP), after the market closes on May 14, 2018, (the distribution ex-date) and effective on May 15, 2018, Rice Midstream Partners LP (NYSE: RMP) will replace SXCP as a constituent of the Index at SXCP's then-current weight.

There will be no changes to the remaining constituents of the Index on May 14, 2018.

ABOUT THE CUSHING^® MLP HIGH INCOME INDEX

The Cushing^® MLP High Income Index provides a benchmark that is designed to track the performance of 30 publicly traded energy and shipping master limited partnership (MLP) securities with an emphasis on current yield.  The securities are chosen for inclusion according to a three-tier proprietary weighting system developed by Cushing^® Asset Management, LP. The Cushing^® MLP High Income Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPY".

ABOUT SWANK CAPITAL AND CUSHING^® ASSET MANAGEMENT

Cushing^® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies. 

Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing^® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing^® MLP Market Cap Index (Bloomberg Ticker: CMCI) ), The Cushing^® Energy Index (Bloomberg Ticker: CENI), The Cushing^® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing^® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing^® Utility Index (Bloomberg Ticker: CUTI).  For more information, please visit http://www.cushingasset.com/indices. 

Contact:
Judson Redmond
214-692-6334
www.cushingasset.com

The Cushing^® MLP High Income Index (the "Index") is the exclusive property of Swank Capital, LLC and Cushing^® Asset Management, LP, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to maintain and calculate the Index. S&P^® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones^® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Swank Capital, LLC, and Cushing^® Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones S&P nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.

CUSH-MLPY

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SOURCE Cushing® Asset Management, LP and Swank Capital, LLC

DALLAS, Feb. 21, 2018 /PRNewswire/ -- Alerian reported index linked product positions of $16.3 billion as of December 31, 2017. Linked products include exchange-traded funds, exchange-traded notes, return of capital notes, variable insurance portfolios, and mutual funds.

Below is a full list of energy master limited partnership (MLP) positions, as of December 31, 2017, in products linked to the Alerian Index Series.

About Alerian
Alerian equips investors to make informed decisions about Master Limited Partnerships (MLPs) and energy infrastructure. Its benchmarks, including the flagship Alerian MLP Index (AMZ), are widely used by industry executives, investment professionals, research analysts, and national media to analyze relative performance. As of December 31, 2017, over $16 billion was directly tied to the Alerian Index Series through exchange-traded funds and notes, separately managed accounts, and structured products. For more information, including index values and constituents, research content, and announcements regarding rebalancings, please visit alerian.com.

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SOURCE Alerian

CANONSBURG, Pa., Nov. 2, 2017 /PRNewswire/ -- Rice Midstream Partners LP (NYSE: RMP) ("RMP" or the "Partnership") today reported third quarter 2017 financial and operating results. Highlights include:

• Gathering throughput averaged 1,483 MDth/d, a 9% increase from second quarter 2017
• Compression throughput averaged 1,027 MDth/d, a 15% increase from second quarter 2017
• Freshwater delivery volumes were 577 MMGal, a 36% increase over second quarter 2017
• Net income attributable to limited partners of $49.5 million, or $0.48 per unit
• Adjusted EBITDA⁽¹⁾ of $65.2 million, a 17% increase relative to second quarter 2017
• Distributable cash flow ("DCF")⁽¹⁾ of $58.7 million, resulting in DCF coverage ratio⁽¹⁾ of 1.91x
• Raised third quarter distribution to $0.2814 per common unit, an increase of 19% over the third quarter 2016
• Exited the quarter with low leverage⁽¹⁾ of 1.0x

Commenting on the results, Daniel J. Rice IV, Chief Executive Officer, said, "Our team delivered another exceptional quarter of strong results driven by solid gathering and compression volumes and significant growth from our freshwater delivery business. This seamless execution underpins our rapid distribution growth of 19% over the prior year quarter and achievement of 1.91 times distributable cash flow coverage."

Proposed Merger of Rice Energy with EQT Corporation

In light of Rice Energy's previously announced merger with EQT Corporation ("EQT"), Rice Energy and RMP discontinued providing guidance and long-term outlook information regarding results of operations and distribution growth through 2023. In addition, investors are cautioned not to rely on historical forward-looking statements regarding guidance and long-term outlook information, which forward-looking statements spoke only as of the date provided and were subject to the specific risks and uncertainties that accompanied such forward-looking statements.

In order to provide more clarity to our investors, we are reiterating the following analysis to demonstrate the impact of the elimination of the drop down opportunities for RMP on its previously published (and discontinued) long-term outlook. Based upon Rice Energy's previously published development plan, the elimination of future drop down transactions would have resulted in an outlook that would have targeted 20% distribution growth, DCF coverage of approximately 1.4x and leverage of less than 2.5x through 2019.

As mentioned above, a significant number of factors that are outside of our control will ultimately determine the long-term distributions of RMP including, among other things, the development program to be adopted by EQT. As such, investors are cautioned that the above analysis should not be construed as guidance or relied upon as an expectation that such levels will be achieved.

Third Quarter 2017 Results

Third quarter gathering throughput averaged 1,483 MDth/d, consisting of 1,168 MDth/d affiliate volumes and 315 MDth/d third party volumes. Freshwater delivery volumes were 577 MMgal,  consisting of 431 MMgal affiliate volumes and 146 MMgal third party volumes, driving significant growth as a result of accelerated completion activity. Higher than anticipated freshwater delivery volumes and lower operating expenses contributed to increases in Adjusted EBITDA⁽¹⁾ to $65.2 million and DCF⁽¹⁾ to $58.7 million.

As of September 30, 2017, RMP's concentrated gathering and compression acreage dedication in the Marcellus Shale core covered approximately 243,000 acres in Washington and Greene Counties with approximately 34,000 acres dedicated from high quality, third party customers.

Quarterly Cash Distribution

On October 20, 2017, we declared a quarterly distribution of $0.2814 per unit for the third quarter 2017, an increase of $0.0103 per unit, or 4%, relative to second quarter 2017. The distribution will be payable on November 16, 2017 to unitholders of record as of November 7, 2017.

About Rice Midstream Partners

Rice Midstream Partners LP is a fee-based, growth-oriented limited partnership formed by Rice Energy Inc. (NYSE: RICE) to own, operate, develop and acquire midstream assets in the Appalachian basin. RMP provides midstream services to Rice Energy and third-party companies through its natural gas gathering, compression and water assets in the rapidly developing dry gas cores of the Marcellus and Utica Shales. For more information, please visit www.ricemidstream.com.

Forward Looking Statements

This release includes forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than historical facts included in this release, that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as, forecasted gathering volumes, revenues, Adjusted EBITDA, distribution growth, and distributable cash flow, Rice Energy's targeted production growth and other operational results, the terms, timing and completion of any acquisitions or divestitures, the timing of completion of midstream projects, future capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strengths, goals, expansion and growth of our business and operations, plans, market conditions, references to future success, references to intentions as to future matters and other such matters are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although we believe that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.

We caution you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to our gathering and compression and water services businesses. These risks include, but are not limited to: commodity price volatility; inflation; environmental risks; regulatory changes; the uncertainty inherent in projecting future throughput volumes, cash flow and access to capital; and the timing of development expenditures of Rice Energy or our other customers. Information concerning these and other factors can be found in our filings with the Securities and Exchange Commission (the "SEC"), including our Forms 10-K, 10-Q and 8-K. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by us will be realized, or even if realized, that they will have the expected consequences to or effects on us, our business or operations. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

This release does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities or a solicitation of any vote or approval. This communication relates to a proposed business combination between EQT Corporation ("EQT") and Rice.

In connection with the proposed transaction, EQT has filed with the SEC a registration statement on Form S-4 on July 27, 2017, that includes a joint proxy statement of EQT and Rice and also constitutes a prospectus of EQT, and has filed a definitive proxy statement on October 12, 2017. Each of EQT and Rice also plan to file other relevant documents with the SEC regarding the proposed transactions. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. The definitive joint proxy statement/prospectus(es) for EQT and/or Rice will be mailed to shareholders of EQT and/or Rice, as applicable.

INVESTORS AND SECURITY HOLDERS OF EQT AND RICE ARE URGED TO READ THE PROXY STATEMENT(S), REGISTRATION STATEMENT(S), PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents containing important information about EQT and Rice, once such documents are filed with the SEC through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by EQT will be available free of charge on EQT's website at www.eqt.com or by directing a request to Investor Relations, EQT Corporation, EQT Plaza, 625 Liberty Avenue, Pittsburgh, Pennsylvania 15222-3111, Tel. No. (412) 553-5700. Copies of the documents filed with the SEC by Rice will be available free of charge on Rice's website at www.riceenergy.com or by directing a request to Investor Relations, Rice Energy Inc., 2200 Rice Drive, Canonsburg, Pennsylvania 15317, Tel. No. (724) 271-7200.

EQT, Rice and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of Rice is set forth in Rice's proxy statement for its 2017 annual meeting of shareholders, which was filed with the SEC on April 17, 2017. Information about the directors and executive officers of EQT is set forth in its proxy statement for its 2017 annual meeting, which was filed with the SEC on March 6, 2017. These documents may be obtained free of charge from the sources indicated above.

Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC when such materials become available. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from EQT or Rice using the sources indicated above.

Rice Midstream Partners LP
Supplemental Non-GAAP Financial Measures
(Unaudited)

Adjusted EBITDA, distributable cash flow and DCF coverage ratio are non-GAAP supplemental financial measures that management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies, may use to assess the financial performance of our assets, without regard to financing methods, capital structure or historical cost basis; our operating performance and return on capital as compared to other companies in the midstream energy sector, without regard to historical cost basis or, in the case of Adjusted EBITDA, financing or capital structure; our ability to incur and service debt and fund capital expenditures; the ability of our assets to generate sufficient cash flow to make distributions to our unitholders; and the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities.

We define Adjusted EBITDA as net income (loss) before interest expense, depreciation expense, amortization of intangible assets, non-cash equity compensation expense, amortization of deferred financing costs and other non-recurring items. Adjusted EBITDA is not a measure of net income as determined by GAAP. We define distributable cash flow as Adjusted EBITDA less cash interest expense and estimated maintenance capital expenditures. We define DCF coverage ratio as distributable cash flow divided by total distributions declared. Distributable cash flow does not reflect changes in working capital balances and is not a presentation made in accordance with GAAP.

We believe that the presentation of Adjusted EBITDA, distributable cash flow and DCF coverage ratio will provide useful information to investors in assessing our financial condition and results of operations. The GAAP measure most directly comparable to Adjusted EBITDA and distributable cash flow is net income. Our non-GAAP financial measures of Adjusted EBITDA and distributable cash flow should not be considered as alternatives to GAAP net income. Each of Adjusted EBITDA and distributable cash flow has important limitations as an analytical tool because they exclude some but not all items that affect net income. You should not consider Adjusted EBITDA, distributable cash flow or DCF coverage ratio in isolation or as a substitute for analysis of our results as reported under GAAP. Because Adjusted EBITDA, distributable cash flow and DCF coverage ratio may be defined differently by other companies in our industry, our definitions of Adjusted EBITDA, distributable cash flow and DCF coverage ratio may not be comparable to similarly titled measures of other companies, thereby diminishing its utility.

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SOURCE Rice Midstream Partners LP

CANONSBURG, Pa., Oct. 20, 2017 /PRNewswire/ -- Rice Midstream Partners LP (NYSE: RMP) ("RMP") today announced the Board of Directors of its general partner has approved a cash distribution of $0.2814 per unit for the third quarter 2017, an increase of $0.0103 per unit, or 4% above the second quarter 2017 distribution. The distribution is payable on November 16, 2017, to unitholders of record on November 7, 2017.

About Rice Midstream Partners

Rice Midstream Partners LP is a fee-based, growth-oriented limited partnership formed by Rice Energy Inc. (NYSE: RICE) to own, operate, develop and acquire midstream assets in the Appalachian basin. RMP provides midstream services to Rice Energy and third-party companies through its natural gas gathering, compression, and water assets in the dry gas cores of the Marcellus and Utica Shales.

For more information, please visit our website at www.ricemidstream.com.

Notice

This release serves as a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b). Please note that 100 percent of RMP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, RMP's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.

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SOURCE Rice Midstream Partners LP

CANONSBURG, Pa., Oct. 19, 2017 /PRNewswire/ -- Rice Midstream Partners LP (NYSE: RMP) ("RMP") plans to announce third quarter 2017 financial and operating results after market close on Thursday, November 2, 2017. RMP will not host an earnings conference call.

RMP's financial statements and related footnotes will be available in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, which will be filed with the U.S. Securities and Exchange Commission ("SEC") on November 2, 2017.

About Rice Midstream Partners

Rice Midstream Partners LP is a fee-based, growth-oriented limited partnership formed by Rice Energy Inc. (NYSE: RICE) to own, operate, develop and acquire midstream assets in the Appalachian basin. RMP provides midstream services to Rice Energy and third-party companies through its natural gas gathering, compression, and water assets in the dry gas cores of the Marcellus and Utica Shales.

For more information, please visit our website at www.ricemidstream.com.

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SOURCE Rice Midstream Partners LP

CANONSBURG, Pa., Aug. 2, 2017 /PRNewswire/ -- Rice Energy Inc. (NYSE: RICE) ("Rice Energy") today reported second quarter 2017 financial and operating results. Highlights include:

• Net production averaged 1,354 MMcfe/d, a 6% increase from first quarter 2017
• Rice Midstream Holdings LLC ("RMH") gathering throughput averaged 1,175 MDth/d, a 21% increase from first quarter 2017
• Lease operating expense of $0.14 per Mcfe, a 30% decrease relative to first quarter 2017
• Net income attributable to common stockholders of $62.9 million, or $0.30 per diluted share
• Reported Adjusted EBITDAX⁽¹⁾ of $229.5 million
• Exited the quarter with low leverage⁽¹⁾ of 1.5x
• Entered into a definitive merger agreement pursuant to which EQT Corporation (NYSE: EQT) ("EQT") will acquire all of the outstanding shares of Rice Energy common stock for total net consideration of approximately $6.7 billion
• Acquired 16,500 net undeveloped acres in the Marcellus Shale core primarily in Greene County, Pennsylvania for $180 million in July 2017
• Entered into a purchase and sale agreement ("PSA") to sell the Barnett assets producing 76 MMcfe/d for $175 million, subject to customary closing purchase price adjustments

Commenting on the results, Daniel J. Rice IV, Chief Executive Officer, said, "We delivered solid results this quarter, a reflection of the hard work and dedication of our entire team. We achieved record production and throughput, significantly reduced our operating costs, increased our core acreage position by almost 20,000 net acres and divested a non-core asset. I am proud of our team's collaborative efforts, evidenced by our strong quarterly results and successful strategic transactions."

2017 Capital Budget Update

We are updating our 2017 drilling and completion capital ("D&C") budget to reflect well costs continuing to trend below budget driven by operational efficiencies in both the Marcellus and Utica that offset previously anticipated rising service costs. Additionally, we are increasing our land capital budget due to continued success acquiring leasehold and royalties that extend lateral lengths, lower cost structure and increase single well returns primarily in Greene County, Pennsylvania. We decreased our D&C capital budget from $1,035 million to $965 million, a decrease of 7%. We increased our land budget from $225 million to $245 million and also expect to spend an additional $115 million on royalty acquisitions. At RMH, we decreased our capital budget from $315 million to $300 million, a 5% decrease, as capital projects are trending below budget relative to prior expectations.

Proposed Merger with EQT Corporation

As previously announced, on June 19, 2017, Rice Energy and EQT entered into a definitive merger agreement, pursuant to which EQT will acquire all of the outstanding shares of Rice Energy common stock for total net consideration of approximately $6.7 billion, consisting of 0.37 shares of EQT common stock and $5.30 in cash per share of Rice Energy common stock. EQT will also obtain Rice Energy's midstream assets, including a 92% interest in Rice Midstream GP Holdings LP, which owns 100% of the general partner incentive distribution rights and 28% of the limited partner interests in Rice Midstream Partners LP (NYSE: RMP) ("RMP"), and the retained midstream assets currently held at Rice Energy. EQT will also assume, retire or refinance approximately $1.5 billion of net debt and preferred equity. Subject to the approval by both Rice Energy and EQT shareholders and certain customary regulatory and other closing conditions, the transaction is expected to close in the fourth quarter 2017.

In light of the pending merger with EQT, we have discontinued providing guidance and long-term outlook information regarding our results of operations. In addition, investors are cautioned not to rely on historical forward-looking statements regarding guidance and long-term outlook information, which forward-looking statements spoke only as of the date provided and were subject to the specific risks and uncertainties that accompanied such forward-looking statements.

As of June 30, 2017, our liquidity position, excluding RMP, was $1,726 million comprised of $1,499 million of upstream liquidity ($110 million of cash on hand and $1,389 million revolver availability) and $227 million of RMH liquidity ($39 million of cash on hand and $188 million revolver availability). Our balance sheet remains strong with low leverage⁽²⁾ of 1.5x.

During the quarter, we turned to sales 18 net Marcellus wells with an average lateral length of 9,200 feet and 7 net operated Utica wells with an average lateral length of 10,500 feet. Our second quarter development costs per lateral foot were under budget and averaged $805 in the Marcellus and $1,105 in the Utica for wells drilled and completed.

Subsequent to quarter end, we completed an acquisition of 16,500 net acres in the Marcellus Shale core in Pennsylvania and West Virginia from an undisclosed seller for $180 million. This acquisition is highly complementary to our existing position and consists of 11,700 net undeveloped acres in Greene County, Pennsylvania and 4,800 net undeveloped acres in Monongalia and Wetzel counties, West Virginia. The leasehold has attractive terms with an average NRI of 86% and 97% of it is held in fee or expires beyond 2021. The acquired Greene County acreage is automatically dedicated to RMP pursuant to its gas gathering and compression and water services agreements.