April 24, 2014 4:17 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Rice Energy Inc.

Company Overview

Rice Energy Inc., an independent natural gas and oil company, is engaged in the acquisition, exploration, and development of natural gas and oil properties in the Appalachian Basin. The company holds interest in the Marcellus Shale, an unconventional reservoir that produces natural gas, natural gas liquids, and oil; and the Utica Shale, an unconventional reservoir underlying the Marcellus Shale. As of December 31, 2013, it had approximately 43,351 pro forma net acres in the southwestern core of the Marcellus Shale primarily in Washington County, Pennsylvania; 34.3 net producing wells in the Marcellus Shale; and 325 net pro forma identified Marcellus drilling locations. The company also owned...

171 Hillpointe Drive

Suite 301

Canonsburg, PA 15317

United States

Founded in 2007

139 Employees

Phone:

724-746-6720

Fax:

724-746-6725

Key Executives for Rice Energy Inc.

Chief Executive Officer
Age: 33
Total Annual Compensation: $175.0K
President
Age: 31
Total Annual Compensation: $175.0K
Chief Financial Officer and Vice President
Age: 27
Total Annual Compensation: $271.4K
Chief Accounting & Administrative Officer
Age: 33
Total Annual Compensation: $275.8K
Compensation as of Fiscal Year 2013.

Rice Energy Inc. Key Developments

Rice Energy Inc. Announces Pricing of Upsized $900 Million Placement of Senior Notes

Rice Energy Inc. announced the pricing of its private placement to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the "Securities Act"), of $900 million in aggregate principal amount of 6.250% senior notes due 2022 at par. This represents an increase of $150 million over the aggregate principal amount previously announced. The private placement is expected to close on April 25, 2014, subject to customary closing conditions. The company intends to use the net proceeds of approximately $882.7 million to repay and retire the company's second lien term loan, including required premiums, and for general corporate purposes, including capital expenditures. The securities to be sold have not been registered under the Securities Act or any state securities laws; and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes are expected to be eligible for trading by qualified institutional buyers in the United States under Rule 144A and outside the United States pursuant to Regulation S.

Rice Energy Inc. and Rice Drilling B LLC Enter into Third Amended and Restated Credit Agreement with Wells Fargo Bank, N.A

On April 10, 2014, Rice Energy Inc. and Rice Drilling B LLC (RDB) entered into a third amended and restated credit agreement, among the company, Wells Fargo Bank, N.A., as administrative agent, and the lenders and other parties thereto, which will become effective concurrently with the completion of the offering of the notes. Among other things, in connection with the amended credit agreement, RDB assigned all of its rights and obligations under the credit facility to the company, and the company assumed all such rights and obligations as borrower under the amended credit agreement. Furthermore, the amended credit agreement (i) allows for the issuance of the notes and (ii) provides that the company will not incur an immediate reduction in the borrowing base under the credit facility as a result of the issuance of the notes (though the borrowing base will be re-determined within approximately 30 days after the issuance of the notes) and, as such, the borrowing base under the amended credit agreement immediately following the issuance of the notes will remain at $350.0 million until the next redetermination of the borrowing base. The amended credit agreement also extends the maturity date of the credit facility from April 25, 2018 to January 29, 2019.

Rice Energy Inc. Announces Launch of $750 Million Placement of Senior Notes

Rice Energy Inc. announced that it intends to offer $750 million in aggregate principal amount of senior notes due 2022 in a private placement to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended. The company intends to use the net proceeds of the offering to repay and retire the company's second lien term loan, including required premiums, and for general corporate purposes, including capital expenditures. The securities to be offered have not been registered under the Securities Act or any state securities laws; and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes are expected to be eligible for trading by qualified institutional buyers in the United States under Rule 144A and outside the United States pursuant to Regulation S.

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