DTE, Rice Drop After Billion-Dollar Bets on U.S. Shale Gas

  • DTE Energy to buy gas gathering systems for $1.3 billion
  • Rice Energy to purchase Vantage Energy for about $2 billion

DTE Energy Co. and Rice Energy Inc. fell in New York trading after announcing billion-dollar bets on eastern U.S. shale formations rich in natural gas. DTE’s credit ratings are being reviewed by Moody’s Investors Service.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.