Rice Boys Issue Proxy Card, Ask EQT Shareholders for New Board

On Monday, Toby and Derek Rice filed a proxy statement with the Securities and Exchange Commission and sent EQT shareholders a package and special proxy card (for voting) in an effort to elicit votes for their slate of nine board members at the upcoming July annual meeting–so they can take control of the company. Normally proxy statements are pretty dry affairs. Not this one! There are bombshell accusations in the proxy statement made by the Rice boys against EQT’s current management.
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Range Resources 1Q19 – Happy ME1 is Finally Back Online

Range Resources issued its first quarter 2019 update earlier this week. Natural gas liquids (NGLs) were one of the themes of the update and analyst phone call–and no wonder why. The company produced an average of 2.26 billion cubic feet equivalent per day (Bcfe/d) of natural gas in 1Q19, nearly one-third (31%) of which was NGLs. Ethane and propane, getting them to market, is a major focus for Range.
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PA Senate Democrats Hold Anti-Shale Crapfest in Pittsburgh

Yesterday the Pennsylvania Senate Democratic Policy Committee held a hearing in Pittsburgh, supposedly on strategies for combating mythical man-made global warming by reducing methane gas emissions. It reality it was an anti-shale crapfest, complete with speeches by radicals from PennFuture and the Environmental Defense Fund.
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Williams Asks U.S. Supreme Court to Toss Atlantic Sunrise Case

In March a group of Pennsylvania landowners from Lancaster County asked the U.S. Supreme Court to hear a case in which they say they’ve been screwed over by Atlantic Sunrise Pipeline, that the pipeline should not have had the right to use eminent domain to build the pipeline before the matter of compensation was fully adjudicated (see PA Landowners Beg US Supreme Court to Hear Atlantic Sunrise Case). Williams, via their Transco subsidiary, has just responded and asked the Supremes to toss the case entirely.
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NJ Residents Want to Deny NYC Residents NatGas from New Pipe

Middletown, NJ officials recently passed, unanimously, a resolution opposing the proposed construction of the Northeast Supply Enhancement (NESE) pipeline, part of the Transco pipeline system. There are a number of components to NESE, but the key component, the heart of the project, is a new 23-mile pipeline from the shore of New Jersey into (on the bottom of) the Raritan Bay–running parallel to the existing Transco pipeline–before connecting to the Transco offshore. Comments by Middletown Mayor Tony Perry are instructive and provide us with a teachable moment.
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