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Revolving Credit Facilities
6 Months Ended
Jun. 30, 2018
Short-term Debt [Abstract]  
Revolving Credit Facilities
Revolving Credit Facilities

The Company has a $2.5 billion revolving credit facility that expires in July 2022. The Company had $0.2 billion in borrowings and no letters of credit outstanding under the credit facility as of June 30, 2018. The Company had $1.3 billion in borrowings and $159.4 million of letters of credit outstanding under the credit facility as of December 31, 2017. The maximum amount of outstanding borrowings at any time under the credit facility during the three and six months ended June 30, 2018 was $1.5 billion and $1.6 billion, respectively, and the average daily balance of borrowings outstanding was approximately $0.9 billion and $1.2 billion, respectively, at a weighted average annual interest rate of approximately 3.4% and 3.2%, respectively. The Company had no borrowings or letters of credit outstanding under its credit facility any time during the three and six months ended June 30, 2017.
 
EQM has a $1 billion revolving credit facility that expires in July 2022. EQM had no borrowings and no letters of credit outstanding under the credit facility as of June 30, 2018. EQM had $180 million in borrowings and no letters of credit outstanding under the credit facility as of December 31, 2017. The maximum amount of outstanding borrowings under EQM’s revolving credit facility at any time during the three and six months ended June 30, 2018 was $338 million and $420 million, respectively, and the average daily balance of borrowings outstanding was approximately $122 million and $211 million, respectively. EQM incurred interest at a weighted average annual interest rate of approximately 3.4% and 3.2% for the three and six months ended June 30, 2018, respectively. EQM had no borrowings or letters of credit outstanding under its revolving credit facility any time during the three and six months ended June 30, 2017. During the third quarter, EQM intends to increase its borrowing capacity from $1 billion to up to $2 billion.

See discussion of the termination of the RMP Credit Agreement in Note B. RMP OpCo had $260 million in borrowings and $1 million of letters of credit outstanding under the RMP Credit Agreement as of June 30, 2018. RMP OpCo had $286 million in borrowings and $1 million of letters of credit outstanding under the RMP Credit Agreement as of December 31, 2017. The maximum amount of outstanding borrowings under the RMP Credit Agreement at any time during the three and six months ended June 30, 2018 was $375 million and the average daily balance of borrowings outstanding was approximately $305 million and $306 million, respectively, at a weighted average annual interest rate of approximately 3.9% and 3.8%, respectively.