EQT will purchase Rice Energy for $6.7 billion
Friday, June 23, 2017
EQT Corp will purchase Rice Energy and become the largest natural gas producer in the United States, making it a giant in the Marcellus and Utica Shale plays.
According to CNBC, EQT announced plans to buy all of Rice Energy’s shares for $6.7 billion. When the deal is done, EQT’s output will total 3.6 billion cubic feet of natural gas per day. The projected output tops U.S. production by Exxon Mobil and Chesapeake Energy.
“This transaction brings together two of the top Marcellus and Utica producers to form a natural gas operating position that will be unmatched in the industry,” EQT President and CEO Steve Schlotterbeck said in a statement.
EQT expects the deal will close in the final quarter this year.
Learn more: CNBC > EQT’s purchase of Rice Energy just created a new energy powerhouse
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Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.