Rice Energy Ramps Up Leasing Activity in Greene County, PA

greene-county-paEarlier this week MDN brought you the dynamite news that Rice Energy is buying out Vantage Energy for $2.7 billion (see Rice Energy Buys Vantage Energy for $2.7B, 85K Marcellus Acres). The next day we answered they “why” question (see Why Did Rice Energy Pay $2.7B for Vantage Energy? It’s Simple…). The reason Rice bought Vantage was largely because of 85,000 acres of Marcellus leases in Greene County, PA. What we had overlooked was the fact that 27,000 of the 85,000 acres in Vantage’s Greene County portfolio was acreage they just bought from bankrupt Alpha Natural Resources (see Vantage Outbids Rice For Bankrupt Alpha Natural’s 27K Marcellus Acres). Rice had bid $200 million for that acreage, but Vantage came along and got it for $339.5 million. Now that Rice has locked up the Vantage acreage in addition to its own considerable holdings in Greene County, what’s left to do? Lease more unleased acreage in Greene. Rice says there is between 20,000-40,000 unleased acres in Greene and the company is full speed ahead trying to get that acreage signed up for themselves. Note to Greene landowners: expect a landman on your doorstep soon…

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