Rice Energy LLC
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Canonsburg, Pennsylvania-based Rice Energy LLC was founded in 2005, and is a private, family-owned and operated exploration and production company that is developing an acreage position in the Marcellus shale formation in Pennsylvania. According to the company, it owns drilling rights to 20,000 acres in southwest and northeast Pennsylvania.
In addition, the company has a farm-in agreement with Denex Petroleum for drilling rights to its land located in rural Washington County, PA.
A late September, 2009 report found Rice planning to drill near the Village of Farragut in Lycoming County, PA a few miles northeast of Williamsport. This article stated that Rice's leasehold amounted to 15,000 acres with 6,000 acres in Lycoming County. The company had obtained a permit to drill a vertical Marcellus shale well along Route 864.
In February, 2010 Alpha Natural Resources announced a joint venture (JV) with Rice Energy to drill up to 100 Marcellus shale wells. The JV's immediate plans were to invest $20 million in drilling four wells on approximately 20,000 acres Alpha had obtained through its buyout of Foundation Coal in July, 2009.
- Daniel J. Rice III is the founder of Rice Energy and a principal in the company.
- Daniel J. Rice IV, is the Rice Energy CFO.
- Toby Z. Rice is the company COO.
- Varun Mishra is Manager of Operations for Marcellus shale developments.
