10 May 2016director interest notice● Neutral
EQT RE, LLC officer James Wilmot Rogers had 1,229 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 May 2016quarterly activities report▼ Bad
EQT RE, LLC reported a quarterly net loss of $17.6 million for the period ended 2016-03-31.
5 May 2016quarterly activities report▼ Bad
EQT RE, LLC reported a quarterly net loss of $17.6 million for the period ended 2016-03-31.
27 Apr 2016substantial holder notice● Neutral
Rice Energy Holdings LLC, Rice Energy Irrevocable Trust*, Kathleen L. Peto, Jay D. Rosenbaum, NGP Rice Holdings LLC, NGP Natural Resources X, L.P, NGP X Parallel Holdings, L.P, G.F.W. Energy X, L.P, GFW X, L.L.C, Natural Gas Partners IX, L.P, NGP IX Offshore Holdings, L.P, G.F. W. Energy IX, L.P, G.F.W. IX, L.L.C, NGP Energy Capital Management, L.L.C reported a EQT RE, LLC shareholding of 34,968,885 shares (22.30% of votes) in a periodic institutional filing.
25 Apr 2016substantial holder notice● Neutral
Viking Global Investors LP, Viking Global Performance LLC, Viking Global Equities LP, Viking Global Equities II LP, VGE III Portfolio Ltd., Viking Long Fund GP LLC, Viking Long Fund Master Ltd., O. Andreas Halvorsen, David C. Ott, Daniel S. Sundheim disclosed a new substantial EQT RE, LLC shareholding (6.50% of votes).
15 Apr 2016material agreement● NeutralMajor
On April 12, 2016 Rice priced a stock offering of 29,858,891 shares at $16.35 (closed April 15): 20,000,000 new shares sold by the company and 9,858,891 by NGP Rice Holdings, which gets those proceeds. Shareholders are diluted by the new shares. The same day Rice signed a stalking-horse agreement to buy about 27,400 net undeveloped Marcellus acres (plus 3,200 gross fee acres) in central Greene County, PA from bankrupt Alpha Natural Resources for $200M cash, subject to a bankruptcy auction and court approval. It adds to the Greene County position bought in 2014 and continues the Alpha relationship (Alpha was a major holder and had a director on the board).
14 Apr 2016securities registration● Neutral
EQT RE, LLC filed a prospectus supplement for an offering off its existing shelf.
12 Apr 2016securities registration● Neutral
EQT RE, LLC filed a prospectus supplement for an offering off its existing shelf.
25 Mar 2016substantial holder notice● Neutral
Alpha Natural Resources, Inc reported a EQT RE, LLC shareholding of 1,650,000 shares (1.21% of votes) in a periodic institutional filing.
25 Mar 2016substantial holder notice● Neutral
Rice Energy Holdings LLC, Rice Energy Irrevocable Trust*, Kathleen L. Peto, Jay D. Rosenbaum, NGP Rice Holdings LLC, NGP Natural Resources X, L.P, NGP X Parallel Holdings, L.P, G.F.W. Energy X, L.P, GFW X, L.L.C, Natural Gas Partners IX, L.P, NGP IX Offshore Holdings, L.P, G.F.W. Energy IX, L.P, G.F.W. IX, L.L.C, NGP Energy Capital Management, L.L.C reported a EQT RE, LLC shareholding of 49,306,610 shares (36.20% of votes) in a periodic institutional filing.
7 Mar 2016substantial holder notice● Neutral
Rice Midstream GP Holdings LP, Rice Midstream GP Management LLC, Rice Midstream Holdings LLC, Rice Energy Appalachia, LLC, Rice Energy Inc reported a EQT RE, LLC shareholding of 28,757,246 shares (40.55% of votes) in a periodic institutional filing.
24 Feb 2016quarterly activities report▼ Bad
EQT RE, LLC reported a quarterly net loss of $280.8 million for the period ended 2015-12-31.
22 Feb 2016capital raising announcement● NeutralMajor
On Feb 17, 2016 (closed Feb 22) Rice Midstream Holdings and a new subsidiary, Rice Midstream GP Holdings, sold $375.0M of senior Series B preferred units (8% yearly distributions) and an 8.25% limited partner interest in GP Holdings to EIG funds in a private placement. Rice Midstream Holdings can call on up to $125.0M more from EIG after Sept 30, 2016 and before the 18-month mark, subject to conditions. Its Rice Midstream Partners units (3,623 common, 28,753,623 subordinated and the incentive distribution rights) were moved into GP Holdings first. EIG can force a $125.0M buyback of its GP Holdings units on a change of control or if no qualifying IPO of GP Holdings occurs within five years, and can require redemption of the Series B units from the tenth anniversary. Rice Midstream Holdings' credit facility was also amended (Feb 19, 2016); the filing text is cut off before listing all changes.
17 Feb 2016substantial holder notice● Neutral
Integrated Assets, Ltd, Millennium International Management LP, Millennium International Management GP LLC, Millennium Management LLC, Israel A. Englander disclosed a new substantial EQT RE, LLC shareholding (5.90% of votes).
16 Feb 2016substantial holder notice● Neutral
Citadel Advisors LLC, Citadel Advisors Holdings II LP, Citadel GP LLC, Kenneth Griffin reported a EQT RE, LLC shareholding of 7.90% of votes in a periodic institutional filing.
11 Feb 2016substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP disclosed a new substantial EQT RE, LLC shareholding (5.16% of votes).
11 Feb 2016substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP disclosed a new substantial EQT RE, LLC shareholding (5.16% of votes).
4 Feb 2016material agreement▲ GoodMajor
On February 1, 2016 Rice Energy and Gulfport Energy formed Strike Force Midstream LLC, a joint venture to gather gas in parts of Belmont and Monroe Counties, Ohio. Rice holds 75% after contributing $41.0 million cash plus certain pipelines, facilities and rights of way, and Gulfport holds 25% for contributing a gathering system. This completes the Gulfport midstream joint venture that the November 2015 credit amendment had cleared the way for. Rice operates it and names three of five managers, and neither side may transfer its stake before August 1, 2017 except to affiliates.
3 Feb 2016substantial holder notice● Neutral
ICS Opportunities, Ltd, Cognizant Holdings, Ltd, Integrated Assets, Ltd, Millennium International Management LP, Millennium International Management GP LLC, Millennium Management LLC, Israel A. Englander reported a EQT RE, LLC shareholding of 6,658,026 shares (4.90% of votes) in a periodic institutional filing.
3 Feb 2016substantial holder notice● Neutral
Point, Cubist Systematic Strategies, LLC, EverPoint Asset Management, LLC, Steven A. Cohen disclosed a new substantial EQT RE, LLC shareholding (5.00% of votes).
15 Jan 2016debt financing● Neutral
On January 13, 2016 Rice Energy signed a Seventh Amendment to its Wells Fargo credit agreement that raises the hedging volume limits for the first eighteen months after any commodity swap or secured firm transportation reimbursement agreement is entered into. No change to the borrowing base or commitment size is stated.
7 Jan 2016substantial holder notice● Neutral
Alpha Natural Resources, Inc reported a EQT RE, LLC shareholding of 53,322,756 shares (39.10% of votes) in a periodic institutional filing.
7 Jan 2016substantial holder notice● Neutral
Rice Energy Holdings LLC, Rice Energy Irrevocable Trust*, Kathleen L. Peto, Jay D. Rosenbaum, NGP Rice Holdings LLC, NGP Natural Resources X, L.P, NGP X Parallel Holdings, L.P, G.F.W. Energy X, L.P, GFW X, L.L.C, Natural Gas Partners IX, L.P, NGP IX Offshore Holdings, L.P, G.F.W. Energy IX, L.P, G.F.W. IX, L.L.C, NGP Energy Capital Management, L.L.C reported a EQT RE, LLC shareholding of 53,322,756 shares (39.10% of votes) in a periodic institutional filing.
21 Dec 2015substantial holder notice● Neutral
Rice Energy Holdings LLC, Rice Energy Irrevocable Trust*, Kathleen L. Peto, Jay D. Rosenbaum, NGP Rice Holdings LLC, NGP Natural Resources X, L.P, NGP X Parallel Holdings, L.P, G.F.W. Energy X, L.P, GFW X, L.L.C, Natural Gas Partners IX, L.P, NGP IX Offshore Holdings, L.P, G.F.W. Energy IX, L.P, G.F.W. IX, L.L.C, NGP Energy Capital Management, L.L.C reported a EQT RE, LLC shareholding of 58,322,756 shares (42.80% of votes) in a periodic institutional filing.
21 Dec 2015substantial holder notice● Neutral
Alpha Natural Resources, Inc reported a EQT RE, LLC shareholding of 58,322,756 shares (42.80% of votes) in a periodic institutional filing.
18 Dec 2015securities registration● Neutral
EQT RE, LLC filed the final prospectus for a registered offering.
4 Dec 2015business combination● Neutral
Rice Energy filed a registration statement to swap the $400 million of 7.25% senior notes due 2023 issued March 26, 2015 for identical notes registered with the SEC. This is the registered exchange the company had to offer within about a year; terms are unchanged and the company raises no new money. The offer was not yet effective and had no expiry date set.
30 Nov 2015director interest notice● Neutral
EQT RE, LLC President & COO Toby Z. Rice bought 7,500 shares on the open market at $13.30.
5 Nov 2015debt financing▲ GoodMajor
On November 4, 2015 Rice Energy sold its Pennsylvania and Ohio water services business (access to 15.9 MMgal/d of fresh water) to its own midstream partnership, Rice Midstream Partners LP, for $200 million in cash plus a possible extra amount of up to $25 million less expansion capex if capacity rises by 5.0 MMgal/d by end-2017. This completes the fresh water sale that earlier filings said was conditioned on an IRS ruling (the filing does not mention the ruling). The partnership funded it by borrowing on its revolver, and Rice Energy signed water services agreements running to December 22, 2029. The same filing raises Rice Energy's borrowing base from $650 million to $750 million (letter of credit sublimit from $175 million to $250 million, three new lenders, next review April 2016), makes a Sixth Amendment capping EBITDAX credit for midstream distributions and expanding hedging terms, and amends the Rice Midstream Holdings credit agreement to allow a planned Utica midstream joint venture with Gulfport Energy. It also announced Q3 2015 results, which are not detailed here.
5 Nov 2015quarterly activities report● Neutral
EQT RE, LLC reported a quarterly net income of $59.0 million for the period ended 2015-09-30.