* Rice Energy announces acquisition of Vantage energy
* Rice Energy – Deal for approximately $2.7 billion
* Rice Energy – Rice Midstream Partners LP will purchase acquired midstream assets from co for $600 million
* Rice Energy – Rice Energy Inc says total consideration for Vantage deal includes of about $1.02 billion in cash, assumption, and retirement of assumed net debt of approximately $700 million
* Rice Energy – RMP can also fund midstream asset acquisition by issuance to Rice Energy of up to $250 million of RMP common units representing limited partner interests
* Rice Energy – Transaction is expected to close in Q4 of 2016
* Rice Energy – Deal immediately accretive and credit-enhancing to both E&P and RMP
* Rice Energy – Following transaction, Rice Energy will control approximately 231,000 net acres in Marcellus and Ohio Utica cores
* Rice Energy – Rice energy has updated its 2016 capital budget and guidance pro forma for anticipated Q4 2016 transaction closing
* Rice Energy Inc says expect 2017 net production to be within a range of 1,280-1,355 MMCFE/D
* Rice Energy – Expect 2017 drilling and completion budget to be within a range of $950 – $1,125 million
* Rice Energy – Total consideration consists of approximately $1.02 billion in cash for Vantage Energy deal
* Rice Energy – RMP intends to fund midstream asset deal with borrowings under credit facility,potential equity, and debt financings prior to closing
* Rice Energy – Total consideration also consists of assumption and retirement of assumed net debt of approximately $700 million for vantage energy deal
* Rice Energy – Total consideration for vantage deal also consists of issuance of membership interests in rea exchangeable into about 39.1 million shares of co Source text for Eikon: Further company coverage:
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Source: Reuters.com
