EQT taking over Rice

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.  

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Permalink Reply by WV Mineral Owner on December 15, 2017 at 5:33am

Jeff,

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.

Permalink Reply by Jeff Kerr on December 15, 2017 at 9:31am

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    

Permalink Reply by WV Mineral Owner on December 15, 2017 at 9:39am

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.

Permalink Reply by Marki Robert ONeill on October 18, 2018 at 8:02am
They want (post production cuts) expenses for transportation and refining deducted from your wellhead price and these expenses have nothing to do with the wellhead price. The refined product sells for a much higher price. Get smart and get an attorney.
Permalink Reply by Ryan Gadworth on October 22, 2018 at 7:19am

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.

Permalink Reply by bo boboski on October 22, 2018 at 9:13am

"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!

Permalink Reply by Ryan Gadworth on October 22, 2018 at 1:31pm

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.

Permalink Reply by GM on October 22, 2018 at 2:34pm

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.

Permalink Reply by Inchworm antenna on October 22, 2018 at 2:37pm

bottom line is it's not appropriate to be a Royalty Manipulator.  People need to call it what it is.

Permalink Reply by Jeff Kerr on October 22, 2018 at 3:34pm

all we want is a fair deal what the contract we signed say;s 

Permalink Reply by WV Mineral Owner on October 22, 2018 at 4:03pm

Ryan,

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.

Permalink Reply by Ryan Gadworth on October 23, 2018 at 2:55am

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

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