30 Nov 2016director interest notice● Neutral
EQT RE, LLC officer James Wilmot Rogers sold 114,523 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Nov 2016quarterly activities report● Neutral
EQT RE, LLC reported a quarterly net income of $74.4 million for the period ended 2016-09-30.
3 Nov 2016quarterly activities report● Neutral
EQT RE, LLC reported a quarterly net income of $74.4 million for the period ended 2016-09-30.
31 Oct 2016director interest notice● Neutral
S Wil Vanloh Jr. became a EQT RE, LLC 10%+ owner and company insider (initial ownership filing).
28 Oct 2016securities registration● Neutral
EQT RE, LLC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
25 Oct 2016asset acquisition disposition● NeutralMajor
On Oct 19, 2016 Rice closed the Vantage Energy acquisition announced Sept 26 and, the same day, sold the acquired Vantage midstream assets (Vantage Energy II Access, LLC and Vista Gathering, LLC) to Rice Midstream Partners LP. Rice Energy Appalachia was renamed Rice Energy Operating LLC (REO); the Vantage sellers (affiliates of Quantum Energy Partners, Riverstone and Lime Rock) became REO members holding common units that can be redeemed for new Rice shares or cash at REO's option, so existing shareholders are diluted as those units are redeemed for shares. The sellers waived the right to nominate a director. This completes the pending Vantage deal and the midstream sale; the filing excerpt does not state the $600M price or the use of the offering proceeds.
7 Oct 2016substantial holder notice● Neutral
Rice Energy Holdings LLC, Rice Energy Irrevocable Trust*, Kathleen L. Peto, Jay D. Rosenbaum reported a EQT RE, LLC shareholding of 33,807,041 shares (17.20% of votes) in a periodic institutional filing.
30 Sept 2016material agreement● NeutralMajor
On Sept 26, 2016 Rice agreed to buy Vantage Energy for $2.7B: about $1.02B cash, about $700M of assumed net debt retired, and membership interests in Rice Energy Appalachia exchangeable into about 39.1M Rice shares (about $980M). Rice also agreed to sell Vantage's midstream entities (30 miles of dry gas gathering and compression) to Rice Midstream Partners for $600M after closing. Alongside, Rice sold 40,000,000 shares at $25.50 ($25.11 after discounts, closed Sept 30), with an option for 6,000,000 more. Existing shareholders face dilution from the new shares and the exchangeable interests. The Vantage deal is conditional on antitrust clearance and either party can terminate if it has not closed by Nov 10, 2016. The filing does not state how the offering proceeds will be used.
29 Sept 2016director interest notice● Neutral
EQT RE, LLC director Rice Energy Holdings LLC disposed of 1,161,844 shares via option/appreciation-right settlement.
28 Sept 2016securities registration● Neutral
EQT RE, LLC filed a prospectus supplement for an offering off its existing shelf.
26 Sept 2016securities registration● Neutral
EQT RE, LLC filed a prospectus supplement for an offering off its existing shelf.
4 Aug 2016quarterly activities report▼ Bad
EQT RE, LLC reported a quarterly net loss of $156.7 million for the period ended 2016-06-30.
4 Aug 2016quarterly activities report▼ Bad
EQT RE, LLC reported a quarterly net loss of $156.7 million for the period ended 2016-06-30.
13 June 2016director interest notice● Neutral
EQT RE, LLC officer Robert R. Wingo had 175 shares withheld for taxes on vesting stock.
13 June 2016director interest notice● Neutral
EQT RE, LLC officer Toby Z. Rice had 102 shares withheld for taxes on vesting stock.
2 June 2016director interest notice● Neutral
EQT RE, LLC director John Mccartney received 8,148 shares as part of the equity award.
2 June 2016director interest notice● Neutral
EQT RE, LLC director James W Christmas received 8,395 shares as part of the equity award.
2 June 2016director interest notice● Neutral
EQT RE, LLC director Robert F Vagt received 12,346 shares as part of the equity award.
17 May 2016debt financing● NeutralMajor
On May 16, 2016 the Eighth Amendment to the Wells Fargo credit agreement raised the borrowing base from $750M to $875M, with elected commitments of $750M; the next redetermination is October 2016. The same day Alpha's auction for the Greene County assets was won by a third party bidding $339.5M, so Rice's $200M stalking-horse deal is not expected to proceed, and Rice is entitled to a break-up fee and expense reimbursement of up to $3.5M, subject to court approval (hearing May 26). Rice says the April offering netted about $312M, it has $1.5B of total liquidity, and it now plans to use the proceeds for general corporate purposes, possibly part of its 2017 capital budget.
16 May 2016director interest notice● Neutral
EQT RE, LLC Chief Executive Officer Daniel J. Rice IV exercised stock options for 4,590 shares and disposed of 5,995 shares.
16 May 2016director interest notice● Neutral
EQT RE, LLC SVP & Chief Financial Officer Grayson T. Lisenby exercised stock options for 4,590 shares and disposed of 5,805 shares.
16 May 2016director interest notice● Neutral
EQT RE, LLC officer James Wilmot Rogers exercised stock options for 4,016 shares and disposed of 5,245 shares.
16 May 2016director interest notice● Neutral
EQT RE, LLC officer Toby Z. Rice exercised stock options for 4,590 shares and disposed of 5,995 shares.
16 May 2016director interest notice● Neutral
EQT RE, LLC officer Derek A. Rice exercised stock options for 4,590 shares and disposed of 5,995 shares.
16 May 2016director interest notice● Neutral
EQT RE, LLC officer William E. Jordan exercised stock options for 4,188 shares and disposed of 5,296 shares.
10 May 2016director interest notice● Neutral
EQT RE, LLC Executive VP of Exploration Derek A. Rice had 1,405 shares withheld for taxes on vesting stock.
10 May 2016director interest notice● Neutral
EQT RE, LLC officer Grayson T. Lisenby had 1,215 shares withheld for taxes on vesting stock.
10 May 2016director interest notice● Neutral
EQT RE, LLC President and COO Toby Z. Rice had 1,405 shares withheld for taxes on vesting stock.
10 May 2016director interest notice● Neutral
EQT RE, LLC Chief Executive Officer Daniel J. Rice IV had 1,405 shares withheld for taxes on vesting stock.
10 May 2016director interest notice● Neutral
EQT RE, LLC officer William E. Jordan had 1,108 shares withheld for taxes on vesting stock.