The issue of expired leases has once again reared its head for EQT–this time in West Virginia. In 2006 a group of WV landowners/rights owners sued Equitable Production Company (now EQT) claiming, among other things, “damages for improper deductions of post-production expenses from their royalty payments and damages for breach of lease agreements, breach of fiduciary duty, fraud, violation of the West Virginia Consumer Credit and Protection Act…violation of the flat rate royalty statute… and punitive damages, all related to the improper payment of royalties.” That case was settled in 2010. However, a subgroup within the larger class action group has a new/different claim: that EQT let leases lapse and then reentered and drilled on property out-of-lease. It’s called trespass.
The issue of expired leases has once again reared its head for EQT–this time in West Virginia. In 2006 a group of WV landowners/rights owners sued Equitable Production Company (now EQT) claiming, among other things, “damages for improper deductions of post-production expenses from their royalty payments and damages for breach of lease agreements, breach of fiduciary duty, fraud, violation of the West Virginia Consumer Credit and Protection Act…violation of the flat rate royalty statute… and punitive damages, all related to the improper payment of royalties.” That case was settled in 2010. However, a subgroup within the larger class action group has a new/different claim: that EQT let leases lapse and then reentered and drilled on property out-of-lease. It’s called trespass.