Strategic Acquisition of 85,000 Net Acres and Midstream Assets in the Marcellus Dry Gas Core
CANONSBURG, Pa., Sept. 26, 2016 /PRNewswire/ -- Rice Energy Inc. (NYSE: RICE) ("Rice Energy") today announced it has entered into a purchase and sale agreement ("PSA") to acquire Vantage Energy, LLC and Vantage Energy II, LLC (collectively, "Vantage Energy") for approximately $2.7 billion, including the assumption of debt. In connection with the acquisition, Rice Midstream Partners LP (NYSE: RMP) ("RMP") will purchase the acquired midstream assets from Rice Energy for $600 million. The transaction is expected to close in the fourth quarter of 2016, subject to customary closing conditions.
The E&P assets to be acquired by Rice Energy include approximately 85,000 net core Marcellus acres(1) in Greene County, Pennsylvania, with rights to the deeper Utica Shale on approximately 52,000 net acres and 37,000 net acres in the Barnett Shale. Second quarter 2016 net production of the acquired assets was 399 MMcfe/d (approximately 65% Appalachia, 35% Barnett). The core midstream assets to be acquired by RMP include 30 miles of dry gas gathering and compression assets. As part of the transaction, Rice Energy will dedicate the acquired Pennsylvania acreage to RMP to provide gas gathering, compression and water services.
Last time we spoke over a month ago she said get back with her in 3 month she would know more. So in Dec.I will email her again.
Donna keep me posted
Franklin Denny pad what direction is it being drilled I see quite a few F.D. PERMITS on the books any one know
Is Rice a shady company? I had signed a 3 yr lease agreement with Vantage in May of 2014. I was contacted by a Greystone Energy this year about buying out my oil and gas rights. I got ahold of Rice after the 3 yr lease had expired to see if they were going to renew and if there was any production on the tracts I was told I had rights to. They said they had no record of me and would look into it. About a week later they tell me that the rights I had signed the lease for related to my deceased mother was in error because my mother was not a heir. I find it hard to believe my sister who is deceased and I were tracked down if our mother was the wrong person. Our mother was from Eastern Ohio, I live in central Ohio and my sister was living in S. Carolina. Seems fishy to me. Anyone know how I can pursue this to clarify. Thanks in advance.
I would go to the county recorders office and look for the docs that are filed proving one way or another. Since the supreme court made their decision last summer on the ODMA 1989 version, Rice has been taking it upon themselves to decide who owns the rights on the land that they have leased. They then report to you that you don't own the rights so they don't have to pay you. They are counting on you not questioning it. If you have a lot of acreage, it is worth seeking a G & O attorney.
|Thanks Sonya, I have a very small interest in 202 acres in Greene County, Center Twp which has been included in pooled units of Greco South 556 acres and Sotler South 560 acres. I have received the paperwork when these pooled units were recorded in Greene County.|