EQT Gas Prices Paid (Let's Compare)

EQT is paying 1.44 for gas in Wetzel. Anyone else getting that little...or more?

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Permalink Reply by Sherre Boyanowski on October 22, 2015 at 2:12pm

Did you file a W-9 with them. It tells them your Tax ID number. If you did not, they then will take out 28% Federal tax.

Permalink Reply by Jeff Kerr on October 23, 2015 at 8:24am

yea and they are getting interest on the taxes they with hold  from you.  think about that

Permalink Reply by Dana L Jacobs on October 23, 2015 at 10:39am

So wish that was correct info. The do not withhold unless asked. Or not provided a w-9 The person at EQT told me I was the 6th person to ask this week.

Permalink Reply by Dana L Jacobs on October 19, 2015 at 6:31am
EQT isn't deducting taxes on my Royalties. If so not under gross or owner taxes.I'm new to this so they could be under a different heading.
At a $1.27 it's not enough to worry about.
Permalink Reply by Jim White on October 19, 2015 at 6:51am

Neither EQT, nor HG, Ascent or Antero are taking deductions out of our old lease, flat rate or otherwise (amendments for pooling old leases). Under WV law I don't believe they are allowed to unless it is stated in the lease. I hear that other companies are viewing this differently. Can't believe that EQT is trying to take fed deductions. That is the reason we provide them with our SS#. The paperwork usually states that if we don't give them our tax info, THEN they will take the deductions.

Permalink Reply by Adam Martin on October 19, 2015 at 8:28am
I don't necessarily have an issue with paying deductions. But if we are paying for transportation or other costs, why are we not getting the better price down the line in other markets either midwest or down south? I would like to know if part of our deductions are going for EQT to hedge the price of gas. If that is the case, should we not get the hedged price that EQT and others publish on their qurterly reports? Anyone out there know if their operator is using part of what is being deducted to pay for their hedging position?
Permalink Reply by Jeff Kerr on October 19, 2015 at 2:45pm

yea there paying us at the well head so its there gas so why are we paying to get it to market thank our ele. officials 

Permalink Reply by Hopeful on October 21, 2015 at 12:48am

I've given this answer several times on this and other forums -- operators do not pass along hedge profits/losses to royalty owners.

Permalink Reply by Leo S on October 23, 2015 at 10:42am

This is a huge problem....leases need to contain a clause to ensure mineral owners are selling their minerals at a minimum value. Even if the value goes to $0, because of the hedging contracts, E&Ps will continue to produce.  I am not a professional, but it seems the hedging contracts are always greater than the daily prices.  Myself, I always want to use the hedging value, not the market value.

Permalink Reply by Isopatch on October 20, 2015 at 2:21pm

Don't take my word for it.  Call EQT and ask them yourself.  Only passing along what they told me.  And I believe THEM.

Maybe they're moving mineral land owners who receive royalty payments from producing wells into this new 28% tax withholding deduction gradually.  And, they've not gotten to every mineral acreage owner yet.  I don't know.  

They told me the policy of withholding 28% for taxes began at the beginning of 2015.  

Permalink Reply by Jeff Kerr on October 19, 2015 at 8:20am

Rice  paying 79 cents per mcf was our last check  

Permalink Reply by Bernie Horabik on October 20, 2015 at 2:49pm

Ouch!

That is the lowest I've heard of for Western Greene County.

Is that 79 cents per mcf before or after deductions?

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