Agreed and why my concern. EQT is more secretive than the CIA and one hand doesn't know what the other is doing even within supportive depts. I do NOT trust them and feel that the smart landowner will keep their eyes and ears open to any shenanigans they may be up to before it's too LATE to stop them. Suing and court hearings are long and expensive. And how much do you lose or gets put on hold in the meanwhile? I honestly don't trust EQT. BTW - anyone get their royalty pymt for June?
Hi Farmgas. I just wanted to jump on here and make a few comments re: the EQT/Rice dispute and how it would impact current operations and investor attraction. First off, it was the top 5 investors who approached the Rice Team to try to do something about the way EQT was managing the company and assets in the 1st place. I went to my brokerage house and bought 11 shares of EQT just so I could vote in the upcoming Proxy War to try to help get EQT's board out and Rice's in. (My brokerage firm IS one of the top 5 shareholders). As a result I have been deluged with all of the materials being sent out by both Rice and EQT. Rice has been very professional and just stating the facts while EQT sounds more like a bunch of spoiled brats having temper tantrums against someone they don't like. Even had I NOT had experience with both companies, I would have voted for the Rice board just based on EQTs business practices and the tone of the materials being sent. One of the complaints prompting the shareholders to seek the Rice's assistance was the lack of development of assets and the increase in cost of developing what they were. Stock prices have plummeted. EQT as a company is very badly managed. I have both dealt with them as a landowner and spoken with employees and they are so secretive about EVERYTHING, NO ONE knows what is going on in either EQT or Equitrans. Their landowner relationship is horrible and in truth, I don't trust them. If Rice gets in, there will be huge changes that can only help. I have already voted my tiny bit of shares but am sure my brokerage company has many more to add.
I haven’t had time to read the proxy material yet but right off I noticed the Rice material was sent bulk mail. The Several EQT mailings have stamps affixed. Easy to see who is interested in cost saving.
maybe EQT bit off more than they can chew I liked Rice way better Rice paid every month like time work EQT not so good.and you get the runaround with eqt I sure hope Rice takes it back or at least buy back the acres they sold
It seems that the PA DEP continues to issues well permits to both Rice & EQT? Aren't they one company now?
well the Atty I spoke with in Waynesburg told us that EQT only pays on legs going thru your Prop. I have a small portion in the Michael McNicholas well and the leg is not even close to our Prop. So I think the Atty is mistaken or EQT is trying to see if it will fly ??
Thank you BW
Annual Meeting and Proxy Vote is today. Guess we'll see what happens soon.
News last nite unofficially says Rice Brothers have the votes.