Rice Energy Inc., an independent natural gas and oil company, engages in the acquisition, exploration, and development of natural gas, oil, and natural gas liquid (NGL) properties in the Appalachian Basin. The company operates through two segments, Exploration and Production, and Midstream. As of December 31, 2014, it held approximately 86,000 net acres in the southwestern core of the Marcellus Shale, Pennsylvania; and approximately 55,000 net acres in the southeastern core of the Utica Shale located in Belmont County, Ohio. The company also has operations in the Upper Devonian Shale located on Pennsylvania acreage. It had 78 net producing wells in the Marcellus Shale; 3 net producing wells ...
400 Woodcliff Drive
Canonsburg, PA 15317
Founded in 2008
Rice Energy Inc. Announces Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Production Guidance for the Second Quarter and Full Year of 2015
May 7 15
Rice Energy Inc. announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company reported total operating revenues were $109,539,000 compared to $90,477,000 a year ago. Operating loss was $31,080,000 compared to $33,795,000 a year ago. Income before income taxes was $13,217,000 compared to $138,829,000 a year ago. Net income was $4,687,000 compared to $129,454,000 a year ago. Net income attributable to Rice Energy Inc. was $152,000 or nil per diluted share compared to $129,454,000 or $1.03 per diluted per share a year ago. Adjusted net loss was $3,094,000 or $0.02 per diluted per share compared to adjusted net income of $62,611,000 or $0.50 per diluted per share a year ago. Adjusted EBITDAX was $84,276,000 compared to $64,803,000 a year ago. Net debt was $964,867,000 as on March 31, 2015.
During the first quarter 2015, daily net production averaged 440 MMcfe/d, an 11% increase over fourth quarter 2014 volumes and 111% increase over pro forma first quarter 2014 production. Total production was 39,621 MMcfe.
The company increasing 2015 annual production guidance to 470 - 490 MMcfe/d, due to accelerated well timing from increased operational efficiencies. The company reaffirming 2015 capital budget of $890 million including E&P and retained midstream investments.
For the second quarter, The company expects to bring online 17 net wells and production to average 470 million to 475 million cubic feet per day, which is a 7% to 8% increase above first quarter 2015 average.
Rice Energy Inc. Enters into the Fourth Amendment to its Third Amended and Restated Credit Agreement
May 1 15
On April 30, 2015, Rice Energy Inc. entered into the Fourth Amendment to its Third Amended and Restated Credit Agreement, among the company, Wells Fargo Bank, N.A., as administrative agent, and the lenders and other parties thereto (the Amended Credit Agreement). The lenders under the Amended Credit Agreement completed their semi-annual redetermination of the borrowing base scheduled for on or about May 1, 2015 (which was originally scheduled for on or about April 1, 2015 but postponed as a result of the company's March 2015 senior notes issuance). Following the redetermination, the company's borrowing base increased from $550 million to $650 million. Additionally, the company added three new lenders to the bank group. The next redetermination of the borrowing base is scheduled for October 2015.
Rice Energy Inc. Presents at Hart Energy Publishing LP 6th Annual DUG East Conference, Jun-24-2015 04:15 PM
Apr 24 15
Rice Energy Inc. Presents at Hart Energy Publishing LP 6th Annual DUG East Conference, Jun-24-2015 04:15 PM. Venue: David L. Lawrence Convention Center, 1000 Fort Duguesne Blvd, Pittsburgh, PA 15222, United States. Speakers: Derek A. Rice, Executive Vice President of Exploration.