Rice Energy
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Rice Energy - overview
Established
2007
Location
Canonsburg, PA, US
Primary Industry
Oil & Gas
About
Rice Energy is involved in the exploration and production of natural gas, specializing in resource extraction from the Marcellus and Utica Shales, primarily serving utility and industrial clients. Founded in 2007 in Canonsburg, US, Rice Energy engages in the exploration and production of natural gas. The company was fully acquired by EQT Corporation from EIG Global Energy Partners in June 2017 for USD 6. 7 billion.
The CEO is Zaid Tariq, and the founder is Luiz Gil, whose background includes experience in energy ventures. Rice Energy has completed a total of 6 deals to date and has raised a total of USD 8. 2 billion. Rice Energy specializes in exploring and producing natural gas and natural gas liquids, focusing on the Marcellus and Utica Shales within the Appalachian Basin.
The company employs advanced drilling techniques, including horizontal drilling and hydraulic fracturing, to optimize resource extraction for a diverse client base, providing essential energy sources for utility companies and industrial manufacturers across eastern US states such as Pennsylvania, Ohio, and West Virginia. In 2016, Rice Energy generated revenue of USD 778. 91 mn with an EBITDA of USD 312. 60 mn, primarily through sales of natural gas and natural gas liquids to energy utilities and large industrial users.
The company utilizes direct sales agreements, ensuring flexible pricing and supply commitments to its clients while enhancing operational efficiency through strategic partnerships. In June 2017, EQT Corporation's acquisition of Rice Energy will facilitate an expansion of natural gas reserves and improve operational efficiencies. The integration aims to solidify EQT's market position, aligning with plans for further developing resource extraction capabilities and enhancing market access.
Current Investors
EIG Partners
Primary Industry
Oil & Gas
Sub Industries
Oil & Gas Exploration and Production, Oil & Gas Equipment and Services
Website
www.riceenergy.com
Company Stage
Mature
Total Amount Raised
Subscriber access only
Rice Energy - financials
| Fiscal Year Ended | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 |
|---|---|---|---|---|
| Revenue (USD) | 88,604,000 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | - |
| EBITDA (USD) | 10,082,000 | - | - | - |
| Operating Income (USD) | (27,963,000) | - | - | - |
| Operating Margin | (31.6%) | - | - | - |
| % EBITDA Margin | 11.4% | - | - | - |
| NET Income (USD) | (35,776,000) | - | - | - |
| % Net Margin | (40.4%) | - | - | - |
Rice Energy - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | Rice Energy | - | ||||||||
| Trade Sale | Completed | Vantage Energy, Inc. | - | ||||||||
| Private Placement/Follow on | Completed | Rice Energy | - | ||||||||
| PIPE | Completed | Rice Energy | - | ||||||||
| Private Placement/Follow on | Completed | Rice Energy | - |
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Rice Energy - employee data
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