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.
Richardson v. EQT... They too had a Gross Lease and were screwed, thus they won their suit in Federal Court. The general lesson was, EQT does not care what a lease calls for, it does as it pleases.
EQT wants to be CHK!
well Chesp. burned and failed I hope EQT has learned a lesson from history
My thoughts as well Jeff
EQT is heavily debt laden. they bought and borrowed their way into the e&p space, from humble if not sketchy beginnings. buying companys like Rice then managing them like CHK will make for interesting ringside viewing over time. i believe their corporate culture demands extracting as much cost from landowners as possible including contract violation as acceptable internal policy. the entire NG complex is negatively affected by the "McClendon" philosophy and landowners must continue to demand political and judicial attention. this institutionalized behavior must be destroyed like the disease that it is.
They acquired 3-4 companies in a 2 year period. They are going to have to drill a lot to be profitable and my understanding is that the pipeline infrastructure still isn't where it needs to be. I wonder if they are setting themselves up to be bought by a Shell or other larger company in the industry. Shell would make sense with the cracker plant near Pittsburgh being built.
Shell is already billions in the hole with "Swepi". they overpaid billions to get into the e&p space. EQT overpaid for Rice. that's why the Rice brothers sold. they knew what they were doing. the landscape is littered with financial blowups. some are managed away and others sell all or parts at some point much cheaper. Anadarko [JV] Mitsui in at 5 billion, out at 1 billion. Alta in at 1billion with Blackstone [VC] pulling strings. goes on and on.
yes we had a delay rental from rice and I had to call EQT to get the ball rolling The check was printed in Sept. and got it in middle of Oct. my brother has not got his yet. Rice was whey better to work with. Rice pd us in July or Aug. why would EQT shoot themselves in the foot like this. Not very good at business as far as I see..looks like a take over is coming
folks may be interested in reading the third qtr. guidance from EQT. all is not well in the "house of huge."
I'm still trying to get the back royalties owed to me on my interest in 6 wells on the Sand Rock well pad in Greene Co. First it was Vantage, then Rice and now EQT. I just started getting royalties in March of this year for Jan of this year. The wells were producing from 2011 and 2013 I believe. I have been in touch with EQT, and all I get is the run-around. And YES, they seem to have a lot of fees! I'm on Social Security and don't have money to hire a lawyer, so I wait....
yea we are still fighting with them on a delay rental we signed with rice.. Rice always pd. in time I got mine after I called 3 months late My brother still has not got his. check Rice was a better Co, to work with hands down.Looks like EQT bit off more than they can chew. I see a big take over coming and EQT will have to sell at a loss to get out of this..