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Rice Drops Down Spending for 2015; Utica, Marcellus Focus
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Rice Energy Inc. announced its 2015 capital budget and guidance. Estimated capital investments and financial guidance include:
2015 estimated net production of 450 – 470 MMcfe/d, an expected increase of 64 – 72% over 2014 net production 2015 annual capital budget of $890 million, compared to $1.1 billion invested in 2014, excluding acquisitions $680 million of budgeted Marcellus and Utica E&P activities to be funded entirely with $712 million of liquidity exiting 2014 and expected 2015 cash flow $210 million of budgeted retained midstream investments to be funded entirely with newly created $300 million midstream credit facility 84% of forecasted 2015 production hedged at an average price of $3.60/MMBtu, based on mid-point of guidance 100% of forecasted 2015 production covered by firm…Finish this article — free account or subscription
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