Rice Energy purchases Vantage for $2.7B
Tuesday, October 11, 2016
Making “the largest core dry gas Marcellus acquisition to date,” Rice Energy Inc. has agreed to buy Vantage Energy for about $2.7 billion, including the assumption of debt, according to The Wall Street Journal.
Vantage’s holdings include about 85,000 Marcellus acres in Greene County, Pennsylvania, with rights to deeper Utica Shale on about 52,000 acres and 37,000 acres of the Barnett Shale.
Rice plans to sell Vantage’s midstream assets to Rice Midstream Partners LP for $600 million.
Vantage investors — Quantum Energy Partners, Riverstone holdings LLC and Lime Rock Partners — postponed the initial public offering, which was planned for September 2014.
Learn more: The Wall Street Journal > Rice Energy to Buy Vantage for $2.7 Billion Including Debt
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