Where is the EQT and Rice dispute heading?

Where is this dispute heading?   What is the impact to current operations?   Will it affect their ability to attract investors?   How will it affect their competitiveness in the Appalachian Basin in the short term or long term?  

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Permalink Reply by Lori Huber on June 17, 2019 at 1:32am

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?

Permalink Reply by BW_Appalachia on June 26, 2019 at 3:46am
CX Energy has absolutely no connection to CNX. They are mineral buying group formed by two attorneys in the Washington County area.
Permalink Reply by Lori Huber on June 17, 2019 at 4:29am

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.

Permalink Reply by Dan on June 17, 2019 at 4:40am

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.  

Permalink Reply by Jeff Kerr on June 17, 2019 at 8:33am

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 

Permalink Reply by farmgas on June 19, 2019 at 7:24am

It seems that the PA DEP continues to issues well permits to both Rice & EQT?   Aren't they one company now?

Permalink Reply by BW_Appalachia on June 26, 2019 at 3:40am
Renewals initially submitted as Rice.
Permalink Reply by Jeff Kerr on June 26, 2019 at 8:24am

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 ??   

 

Permalink Reply by BW_Appalachia on June 26, 2019 at 8:49am
Perhaps the attorney misunderstood the question, but unitization requirements are fairly straightforward in PA and require more than simply properties touched by the wellbore. I believe EQT calls their units "allocation areas", but they follow the same principles and include buffer requirements from the wellbore, while also abiding by the terms in the various leases as they relate to unitization and pooling. You could pull the McNicholas DPU (or DNOAA in EQT's case) from the Greene County courthouse and see exactly what that unit boundary looks like.
Permalink Reply by Jeff Kerr on June 26, 2019 at 1:39pm

  Thank you  BW  

Permalink Reply by Lori Huber on July 10, 2019 at 1:30am

Annual Meeting and Proxy Vote is today. Guess we'll see what happens soon.

Permalink Reply by Dan on July 10, 2019 at 1:54am

News last nite unofficially says Rice Brothers have the votes.

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