any one know if EQT will be at least as good as rice was. I am not very happy with this deal. I just got use to rice and now its dealing with Eqt. Any one have a history with Eqt to tell us what to expect from them. With no competition in this area I feel leases will be much less. Any thoughts on this. I am in Greene Co. PA Springhill TWP.
Good Luck!!! EQT is very creative when it comes to deductions and reducing royalty payments. They are known for having taken more than 100% of a deduction for expenses such as travel, meals, uniforms and entertainment. I urge you to review your monthly statement with a microscope.
Thank you for the reply I was happy with Rice but wasn't sure on EQT And I will keep a eye on my statement Thank you again
Good luck, I foresee a class action lawsuit against EQT at some point, based on questionable deductions, etc. They sell your gas to a sister company at a lower price than the current market price, plus take deductions.
Jeff, EQT is one of the best companies in the industry. They have been around for roughly 100 years. While most companies that have been in our area leave after a few years, they are invested here. I agree their terms definitely aren't the best for landowners but the fact that they are more likely to drill than some other companies will provide more long term money from royalty payments. Knowing that my lease is with EQT and not one of the other companies around here makes me feel better about the long terms.
"they are more likely to drill". True,but if you end up getting"o" royalties because of all their deductions, it would have been better to leave it in the ground!
Come on, lets be realistic here and not be a conspiracy theorist. 15-20 years ago, no one in this region knew the industry would grow to be what it is today. Lets be happy with what we have and not be greedy. We should be thankful that bonus prices are where they have been and most leases in the area are paid up leases and not the old school delay rental leases. The norm used to be less than $100/acre an 12.5% royalty! I feel very fortunate to have signed a lease withe the terms I did and have received the unexpected income due to the oil and gas activity.
And Ryan's paycheck is signed EQT, or XTO, Rice. And if it isn't than you don't know.
Seriously, it's a freaking joke.
bottom line is it's not appropriate to be a Royalty Manipulator. People need to call it what it is.
all we want is a fair deal what the contract we signed say;s
I suggest you research some of the many Successful lawsuits against EQT for failing to make proper payment and deducting expenses that are not only unfair, but in some cases, specifically prohibited by law.
Yes, I read some articles regarding this over the past few months. I agree it is wrong and wasn't defending that at all. I fortunately have a gross lease so maybe that's why I am bias and not quick to say EQT is not paying folks correctly on a regular basis. I was just happy to hear that a company with a long history in our region bought our lease instead of a company from Texas or Oklahoma. I'm also hoping they drill one of the other formations that are said to be under our lands. My neighbor told me there are 2 more formations they can drill but I never heard anymore about that. Our lease only covers the utica so they will have to lease me again to drill further