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Fresh Off Vantage Deal, Rice to Ramp Up Spending in 2017 ~40%
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Rice Energy reported third quarter 2016 financial and operating results.
Key Points:Preliminary Rice Energy 2017 Outlook
2017 Capex within a range of $950 - $1,125 million (+30-53% compared to $735 million 2016 capex) Expect 2017 net production to be within a range of 1,280 - 1,355 MMcfe/d, an approximate 67% increase over 2016 estimated net productionQ3 2016
Completed 21 wells in Q3 (10 Marcellus (net) / 11 Utica (gross - 7.0 Utica net) Highlights: Third quarter net production increased 23% over the prior year quarter to an average of 747 MMcfe/d, after taking into account a decrease of approximately 27 MMcfe/d related to a prior period adjustment Third quarter 2016 exit rate production of approximately 800 MMcfe/d Third quarter net income of $91 million, a 40% increase relative…- ✓ Full news archive — U.S., Canada & international coverage
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