Greene County Acreage Acquisition Supplemental Slides April 12, 2016
200MM Stalking Horse Bid Transaction Highlights RICE is uniquely positioned to acquire ANRs natural gas assets - highly complementary to existing upstream footprint and midstream infrastructure Checks all of the boxes for an attractive…
Expanding Core Dry Gas Position 27,400 net core Marcellus acres complementary to existing position Pro-Forma E&P Assets Adds 182 net core drilling locations 37% increase in Marcellus locations 44% acreage HBP, held by operations or…
Advantaged Midstream & Downstream Solutions Legend RMP Gathering Pipeline Acreage will be dedicated to Rice Midstream Partners (NYSE: RMP) PENNSYLVANIA RMP Gathering Pipeline Beaver to be Constructed Increases RMPs core dedication…
Sale Process and RICE Competitive Advantages 363 SALE PROCESS OVERVIEW RICE ADVANTAGES Rice Energy expects to be named as stalking horse As the stalking horse bidder, Rice Energy is bidder for the Alpha assets and has signed an Asset…
Rice Energy Strategy Allocate 100% of Capital to Core Assets with Attractive Returns Maintain a Strong Balance Sheet Protect Returns and Balance Sheet through FT Portfolio and Systematic Hedging Strategically Position Midstream…
Well Positioned to Navigate Environment Financial Strength Healthy balance sheet, ample liquidity and robust hedges 2016 budget focused on balance sheet and E&P returns while creating significant future midstream value Healthy Balance…
RICE trades at Attractive Valuation Relative to Peers RICE trades at a 3.9x discount to peers despite a strong financial position, core assets and growing cash flow The median EBITDA multiple implies a 29.12 RICE stock price, an 86%…
Track Record of Low-Cost Growth MARCELLUS D&C COSTS (/FT.) UTICA D&C COSTS (/FT.) PER UNIT CASH COSTS (/MCFE)(1) 1,439 1.80 2,457 1,237 1.50 1,181 1,150 0.44 1.34 1,651 0.43 1,450 0.38 0.34 0.38 0.38 0.55 0.38 0.36 0.43 0.31…
Attractive Single Well Economics RICE continues to drive down D&C and operating costs to maximize returns Inventory currently generates 40% returns at strip(1); HHUB PV10 breakevens of 2.08-2.18 HHUB DRY GAS SINGLE WELL ECONOMICS…
Differentiated Long-Term Production per Well Our drilling and completion techniques have yielded greater production profile per well than our peers WASHINGTON & GREENE COUNTY HISTORICAL PRODUCTION(1) UTICA & SUSQUEHANNA, PA HISTORICAL…
Most Efficient Growth in Appalachia RICEs peer-leading production growth is driven by a focus on well quality, not quantity RICE reached over 850 MMcfe/d of gross operated production with fewer wells than every other operator(1) in…
Asset Quality Industry High Grading to Quality RICEs footprint is located in the epicenter of remaining activity in Appalachia due to best in class economics Appalachia Rig Counts(1): 2007 - 2016 March 2016: 34 Rigs 200 Early 2012…
Pennsylvania Utica: A Natural Extension for Rice The Utica core extends directly underneath RICEs Pennsylvania assets. Initial RICE and Industry wells point to massive resource potential. OH WV PA Guernsey Belmont Marshall Washington /…
Marcellus Type Curve Updated MARCELLUS SINGLE WELL TYPE CURVE 14.0 Restricted Rate Cumulative Production 12.0 Current Prior Var. 1 Year 3.4 3.8 (0.4) 10.0 2 Year 5.2 5.6 (0.4) MMcf/d 5 Year 8.1 8.2 (0.1) 8.0 10 Year 10.6…
Utica Type Curve Updated UTICA SINGLE WELL TYPE CURVE 20.0 Cumulative Production Restricted Rate Choke management extends flat Current Prior Var. time from 9 months to 12 months. 1 Year 5.8 5.2 0.6 15.0 2 Year Incorporated…
Economics PV10 & IRRS (1) ECONOMIC ASSUMPTIONS Marcellus Utica Dry Utica Wet Economics Adjusted for Gathering Ownership at 3.50 HHUB Type Well Assumptions and 27/bbl NGLs 90% 16.0 Spacing 750 1,000 1,000 Lateral Length 7,000 9,000…
RICE 4Q 2015 Adjusted EBITDAX Reconciliation Three Months Ended Year Ended ( in thousands) December 31, 2015 December 31, 2015 Adjusted EBITDAX reconciliation to net income (loss): Net income (274,253) (267,999) Interest expense…
Loading...
