Rice Energy posts second quarter loss, but will step up production
Sunday, August 9, 2015
Depressed natural gas prices in Appalachia are forcing companies like Rice Energy to sell to other markets. Pittsburgh Post-Gazette PowerSource reports that the Canonsburg, Pennsylvania-based company reported a second quarter loss of $69.7 million. During the second quarter of 2014, the company reported a loss of $7.9 million
Rice decided to begin drilling in Pennsylvania’s Utica earlier this year after successfully drilling the successful ‘Bigfoot’ well in Belmont County, Ohio. The exploration and production company also has a midstream branch.
Rice intends to increase production despite the downturn.
Via: Pittsburgh Post-Gazette PowerSource > Rice Energy widens loss
Recent Rice Energy news:
- Rice Energy transitions to the Utica June 30, 2015
- Rice Energy begins drilling in Pennsylvania’s Utica Shale March 16, 2015
- Rice Energy’s ‘Bigfoot’ records high production numbers Nov. 20, 2014
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