Equitrans Midstream Corp. and EQM Midstream Partners LP have completed the acquisition of all of the outstanding common units representing limited partner interests in EQM that it did not already own.

In addition, EQM has completed the redemption of $600 million aggregate principal amount of outstanding EQM Series A perpetual convertible preferred units and that all remaining EQM Series A perpetual convertible preferred units were exchanged for ETRN Series A perpetual convertible preferred shares.

“In late 2018, we began our corporate simplification immediately following our launch as a standalone midstream company, and today, Equitrans Midstream emerges as a single C-Corp structure with strong, clear corporate governance and a broader investor base,” Chairman and CEO Thomas F. Karam said, in a statement. “Equitrans is built to be resilient in any environment, highlighted by our long-term firm contracts and our ability to generate significant free cash flow. We are committed to efficiently deploying capital to create and deliver greater value to shareholders, as well as to being among the leading ESG companies in the midstream sector.”

Based in Canonsburg, Pennsylvania, Equitrans Midstream has assets in the Appalachian Basin and is one of the largest natural gas gatherers in the U.S. With a 135-year history in the energy industry, ETRN was launched as a standalone company in 2018 and, through its subsidiaries, has an operational focus on gas gathering systems, transmission and storage systems, and water services assets that support natural gas producers across the Basin.

ETRN is the parent company of EQM Midstream Partners LP, a limited partnership formed to own, operate, acquire and develop midstream assets in the Appalachian Basin. As one of the largest gatherers of natural gas in the U.S., EQM provides midstream services to producers, utilities and other customers through its strategically located natural gas transmission, storage and gathering systems, and water services to support energy development and production in the Marcellus and Utica regions. EQM owns approximately 950 miles of FERC-regulated interstate pipelines and also owns and/or operates approximately 1,900 miles of high- and low-pressure gathering lines.