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Rice Energy Buys 22,000 Marcellus Acres From Chesapeake

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By Darren Barbee, Hart Energy
July 9, 2014

Rice Energy Inc. (NYSE: RICE) announced July 8 that it plans to acquire 22,000 net acres and 12 Marcellus wells in western Greene County, Pa., from a Chesapeake Energy Corp. (NYSE: CHK) subsidiary. Rice will pay $336 million for 100% operated working interest, representing a 24% increase in the company’s net acreage position as of March 31.

The company also picked up about 152 net risked locations, representing a 47% increase to Rice’s Marcellus inventory of 325 net risked locations. Net production is 20 million cubic feet per day (MMcf/d) ...

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