Rice Energy Inc. announced plans to form a midstream MLP and to confidentially submit a draft Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission for an IPO of common units. The IPO is expected in the first-half of 2015.
The MLP’s expected initial assets include Rice Energy’s Pennsylvania gas gathering and water sourcing and distribution assets. After closing of the planned IPO, Rice Energy will control the general partner of the MLP and will own 100% of the incentive distribution rights and a majority of the MLP limited partnership units.
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