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Rice Ups 2015 Spend to $1.03B; Touts Results of Premier PA Utica Well
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Rice Energy Inc. reported third quarter 2015 financial and operational results.
Key Points: Increasing our 2015 annual production guidance range to 515 - 525 MMcfe/d Increasing 2015 capex to $1.030 billion We turned to sales 14 gross (13 net) horizontal Marcellus wells with an average lateral length of 6,940 feet at an average development cost of $1,029 per lateral foot. In late August 2015, we turned to sales our first operated Pennsylvania Utica well, John Briggs 50U, approximately three months ahead of schedule. After a 60 day test period, the well is currently producing under our designed restricted choke rate of 12 MMcf/d with 8,000 psi of flowing casing pressure and favorable pressure declines. Highlights during the quarter include: Net production averaged 609 MMcfe/d for the…- ✓ Full news archive — U.S., Canada & international coverage
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