Capital Markets | Capex Increase | Capital Expenditure - 2017 | Private Equity Activity
Vantage Deal Prompts Rice to Up 2016 Drilling Plans, Plus 2017 Outlook
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In connection with its announced acquisition of Vantage Energy, Rice Energy has updated its 2016 estimates as well as detailed its outlook for 2017.
2016 GuidanceRice Energy has updated its 2016 capital budget and guidance pro forma for the anticipated fourth quarter 2016 transaction closing. Our Marcellus drilling and completion capital investments increased by $40 million to reflect ongoing activity on the acquired acreage. Our land capital budget increased by $35 million, as a result of anticipated successful organic leasing and leasehold costs associated with the acquired acreage.
2017 OutlookIn addition, Rice is providing a preliminary 2017 outlook pro forma for the Vantage Energy acquisition. We expect our drilling and completion budget to be within a range of $950 – $1,125…
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