Exploration & Production | Top Story | Capital Markets | Capital Expenditure | Private Equity Activity
New Marcellus E&P Marks IPO; Will Spend $1B in 2014
Print
|
On December 9th, 2013, we reported that Rice Drilling LLC had filed it's IPO (see a profile of the company here).
The company disclosed in it's filing that in 2014, excluding $100 million cash to be paid with respect to the Marcellus JV Buy-In, they plan to invest $1,080 million in our operations as follows:
$299 million for drilling and completion in the Marcellus Shale; $132 million for drilling and completion in the Utica Shale; $386 million for leasehold acquisitions; and $263 million for midstream infrastructure development.This represents a 72% increase over Rice's $629 million pro forma 2013 capital budget.
The following table provides a summary of the company's acreage, average working interest, producing wells, drilling locations, years of drilling inventory, projected 2014…
Finish this article — free account or subscription
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
No credit card. Includes 15 days of full access to permits, deals, completions and presentations.
Already a subscriber? Log in