First Choice Energy

Thursday, March 28, 2019

Ohio Landowner Misses Rice Energy

From the Pittsburgh Post-Gazette:
Larry Cain is a “we” kind of guy. 
“We’re playing our rivals,” Mr. Cain, 61, says on his way to a high school basketball game. 
“We just milk cows,” he says modestly, and it’s not clear if he’s talking about himself and his son Devin Cain who run the Cain Farm in Bethesda, Ohio, or the hundreds of farmers and landowners he once shepherded into a lucrative arrangement with Rice Energy Inc. 
When Canonsburg-based Rice announced in June 2017 that it had agreed to be acquired by EQT Corp., Mr. Cain had another kind of “we” moment. 
“We need to talk,” he texted Toby Rice, COO and co-founder of Rice Energy. 
That night, he got a call — a difficult call. Mr. Rice didn’t come out and say he didn’t want to sell the company, Mr. Cain recalled. He talked about doing what’s best for the shareholders and how EQT offered $6.7 billion.
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