Rice Energy Acquires Undeveloped Marcellus Acreage

Drilling Activity Details

Locations

Greene
PA
United States

Operators
Plays
Post Date
Well Name
n/a
Geo Coordinate

Drilling Activity Summary

Description

Cannonsburg, Pa.-based Rice Energy Inc. is acquiring acreage in Greene County, Pa., from a bankrupt coal company, Alpha Natural Resources. Rice Energy is paying $200 million in cash for interests in 27,400 net undeveloped Marcellus Shale acres, plus an additional 3,200 gross acres that are leased to Rice Energy. In addition, the newly acquired acreage includes the drilling rights to the deeper Utica Shale on 23,500 acres. According to Rice, the core acreage is directly adjacent to an existing proved, developed Marcellus position in Greene County. Alpha Natural Resources filed for bankruptcy protection in August 2015.