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Rice Energy Second Quarte 2016 Results
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Rice Energy Inc. reported second quarter 2016 financial and operating results.
Budget Changes: Our Marcellus drilling and completion budget has decreased from $285 million to $230 million, while increasing our number of wells drilled for the year. As a result, we are reinvesting these cost savings in the Utica and increasing our operated Ohio Utica drilling activity and capital budget in this favorable service price environment from $175 million to $240 million. Our non-operated Ohio Utica activity has decreased by $10 million to $90 million. In addition, we are increasing our land budget by $20 million to opportunistically add organic leasehold. Our total E&P budget has increased from $640 to $660 million for 2016. Highlights to date include: Second quarter net…- ✓ Full news archive — U.S., Canada & international coverage
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