- EQT Corp. (NYSE:EQT) +6% pre-market after preliminary voting results show shareholders elected all seven Rice Team-nominated directors and the five nominees supported by both EQT and the Rice Team; all 12 elected directors received more than 80% of the votes cast at the EQT annual meeting.
- The newly constituted board will meet later today and is expected to name Toby Rice as EQT's new President and CEO, succeeding Robert McNally.
- The dissidents' victory highlights the urgency for producers to demonstrate that they can translate their drilling success into shareholder returns; the Rices have touted the more intensive use of technology at EQT to improve the efficiency of its drilling.