Rice Energy Trims 2015 Budget 19%, Production Soars 61% in 4Q14

Yesterday Rice Energy, a small but rapidly growing driller in the Marcellus and Utica Shale, issued a recap of 2014 along with “guidance” (or projections) for what they plan to do in 2015. The disappointing but understandable news is that Rice plans to spend less money drilling in 2015 than they did in 2014–$890 million for 2015 compared with $1.1 billion in 2014–a 19% reduction. That’s not nearly as deep a cut as many Marcellus/Utica drillers. For 2015, Rice plans to drill 61 new wells using that $890 million, and bring 36 new wells online. Production for Rice soared in 4Q14–up 61% from the previous quarter! Below are a pair of announcements from yesterday with loads of details…

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