EQT with the Biggest SCAM YET

Just got my EQT royalty check for the month. They SOLD my OIL for 23.48 a barrel????/ and my Gas for 2.28??????. Obviously selling to a company they own to SCREW the landowner.Then they had the guts to take 25% in deductions after the scam on the sales???  If anyone know of a Class Action Suit please post it here.

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Permalink Reply by Daryl Brown on September 29, 2017 at 2:21am

There are multiple pipelines that service that area and whether gas actually flows on any one in particular or a combination of pipes what happens in reality is that gas in a specific region trades off an index or combo of indexes.  For instance you may be a seller of gas off of Columbia or TETCO or Equitrans but the pricing that you receive could be Dom South or TETCO M2 related because those are the alternatives and those indexes offer the most liquidity and fair value for gas in that specific area.  It is quite complex and very difficult to sort it all out honestly.  Not that you or anyone couldn't understand it but more that you have to really look at exactly what location you have production located to determine the price that the market will pay.  In some cases a matter of simply having a better interconnect or building a few miles of pipe may offer a material uplift in price but that cannot always be said.  Once that infrastructure is in place things tend to equalize so that spread in pricing may disappear.  Producers are always evaluating these opportunities as no one is more motivated to get the best price than they are so they definitely do their homework on this stuff.  

I liken it to a growing city where you build the shopping, neighborhoods, schools and churches all before the roads widen.  Why does this happen?  Well you have to have the tax base to support the cost of the roads, bridges and infrastructure and that is the sad reality.  In time things will get better but it may take a lot longer than a year or two or even 5 to really happen.  The growth is not slowing it is ramping up so its just difficult for the infrastructure to catch up from what is in reality a runaway truck..........

Permalink Reply by Renee E. Dorsey on October 9, 2017 at 11:18am

If your lease with Stone had no deductions, then EQT MUST honor the same language.   As long as it is really in the lease.  

Permalink Reply by DSFS on October 10, 2017 at 1:47am

Exactly. BUT EQT said they had two different opinions in their legal dept so they decided to go with the atty who would say deductions were allowed. BIG Surprise I know.

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