Rice Energy: The First of the Shale Generation Unique Team Youngest management team in the industry Cutting-Edge Approach Data and technology drive peer-leading results and high return project economics Compelling Assets Highly…
Rice Energy: A Premier Appalachian Pure-Play 89,839 net acres, 100% core in each of the Marcellus (SW PA) and Utica (SE Ohio) Concentrated Core Acreage In 2013, organically grew Marcellus and Utica leasehold positions by 50% with…
Asset Overview Concentrated in the Core 90,000 core acres in two of the top shale plays in North America Company Total Wayne Stark Columbiana Butler Net acres: 90,000 (1) Net production (MMcf/d): 161 Washington Proved…
Extensive Drilling Inventory of Low Risk, High Return Projects Single Well Assumptions Unrisked and Risked Net Locations and Well Economics (1) Marcellus Utica Dry Utica Wet Net Locations IRR D&C (MM) 8.0 14.0 14.0 Type Curve…
Established Track Record of Industry-Leading Growth Producing Horizontal Feet and Wells (Gross) Average Daily Production Feet (000) Wells MMcf/d 250 50 250 40 206 200 40 200 173 177 33 29 150 30 150 23 110 161 17 224 84 131 128 100…
Industry-Leading Development Costs Industry-leading development costs despite a predominantly delineation-focused approach since inception Average Completed Lateral Length (Feet) (1) 3-Year PD All-In F&D Cost through 2012 (2) / Mcfe…
Well Positioned for Take-Away and Basis Optionality Access to multiple long-haul pipelines and substantial firm transportation contracts support production growth Pipeline Overview Firm Transportation/Sales & Associated Basis (1)…
Midstream: Designed to Handle the Growth Highlights Midstream Capex Significant investment in midstream infrastructure to ( mm) 400 373 date has built 1.5 Bcf/d gathering system Including gas gathering lines, compressor stations…
Pennsylvania Overview 11
Pennsylvania Overview 43,000 net acres concentrated in Washington & Greene Counties Rice Energy Acreage Mono 4H Allegheny X-Man Pad 2 Wells Avg 476 Day IP: 11.3 MMcf/d Avg 180 Day IP: 12.8 MMcf/d 5.4 Bcf produced in 16 months Avg…
Peer-Leading Marcellus Results Top 10 Marcellus Wells, Washington County, PA (1) Cumulative Bcfe 659 producing horizontal Marcellus wells in Washington County at 12/31/13 Days Online 481 704 735 905 1,350 850 1,185 1,159 673 1,198…
Focus on Reducing our Costs per Lateral Foot Historical cost reductions technical improvements, fewer science experiments Future cost savings development mode economies of scale (pad drilling, super-long laterals) Average Drilling Time…
Ohio Overview 15
Industry Results Confirm our Position in the Utica Core IP Results Sized and Color-Coded 30 MMcfe/d Rice Acreage 20-30 MMcfe/d Hess: 1 well 10-20 MMcfe/d Rice: 2 wells IP: 25 MMcfe/d TUSCARAWAS 5-10 MMcfe/d Blue Thunder 10H, 12H 0-5…
High Volume Wells Predicted by Geologic Model Rice Energy controls 47,000 acres in the heart of the Point Pleasant Core in Belmont County 20 MMcfe Pending Results 1 MMcfe 2 MMcfe 6 MMcfe 8 MMcfe 12 MMcfe 30 MMcfe Porosity Rice…
Rice-Gulfport Belmont County Joint Development Agreement AMI Overview RICE/GPOR AMI Acreage 50,000 net combined acres Industry Laterals 638 gross identified drilling locations 2014E drilling: 31 wells (12.5 net) 12 Rice-operated…
Financial Overview 19
Financial Policy Pro forma liquidity of 797 million as of 9/30/13 Focus on Pro forma for the IPO, we expect to be unlevered on a net debt basis; Long term, we target debt / Financial EBITDAX…
Hedging Summary Rice Financial Philosophy Natural Gas Hedges (MMcf/d) (/MMBTU) Management focused on cash flow stability and prudent capital management to execute current capital program Goal of hedging current and forecasted…
Pro Forma Capitalization Capitalization (1) Pro Forma Pro Forma Status Quo for ASR for IPO ( in millions) 9/30/2013 Adjustments 9/30/2013 Adjustments 9/30/2013 Cash 36 4 40 423 462 Revolving Credit Facility - 72 72 (72) - 2nd…
2013 & 2014E Capital Budget Capex Budget by Type D&C Capex Budget by Area Midstream Upper Devonian Utica 8% 3% 8% Drilling 2013 38% Leasehold 54% Marcellus 89% 629mm 242mm Midstream 29% Utica Drilling 31% 33%…
Why Invest in Rice Significant Leasehold Position in Core of Marcellus and Utica Low Cost Leader Focused on Midstream Plan A Balance Sheet that Supports the Story Highly Incentivized Management Team Top-Tier Growth With…
Appendix 25
Marcellus Proved Developed Producing Scorecard Reserve Lateral Category Producing Well Cumulative Cum. Prod./ Length as of EUR Bcf/ First Days Production Days Prod. Periodic Flow Rates (MMcf/d) D&C D&C Well Name Formation (Feet)…
Organizational Structure Rice Energy Holdings LLC (Rice Holdings), Natural Gas Alpha Natural Other Investors Rice Energy Family Holdings, LP Partners Resources, Inc. (Rice Partners) & Daniel J. Rice III 100% indirect economic…
Rice History Our position in the Marcellus and Utica was formed through large contiguous acreage acquisitions and numerous bolt-on acquisitions targeting the core of the play Nov 2012 June 2013 Oct 2013 Oct 2013 Jan 2014 Gross…
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