Rice Sells 8.5% Ownership of Rice Midstream to EIG for $375M

Rice Energy has sold an 8.5% ownership stake in Rice Midstream to EIG Global Energy Partners for $375 million. Rice plans to use the money to help fund its 2016 pipeline expansion program in the Marcellus/Utica. EIG is also on the hook for another $125 million investment in the next 18 months if Rice chooses to exercise it. Here’s the details for how Rice Midstream is dealing with the downturn in the market…

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