Rice lucked out and leased areas which turned out to be great.
The employees didn't do that, the rice brothers did back before the company took off. Anyone could have drilled those areas and had good results.
That said, the proof will be in the pudding.
If the employees are SO good, then they will land at EQT. If not, then they are part of th fat being trimmed. We will wait and see. The numbers will not lie. Fwiw, I too have heard only 10-20% of rice folks to be retained.
No fat trimming when given the choice and some of the top talent chose to walk with loyalties and innovative ideas in tact. They’ll land where they can immediately contribute to the bottom line and will be appreciated for thinking outside the box to create efficiencies. I wouldn’t worry too much about those folks, aside from where they’re working next and if that’s your competition.
You aren't really that familiar with the way Rice operated or their systems then. The rock didn't hurt, but it was the employees who added thousands of acres to the position year after year and continually drove down well and acquisition costs.
Did you just copy and paste this? This is all said and done. It looked like they kept like 30-40% of
Rice employees. The combined company is going to be formidable.
I wonder how many EQT people got cut.