Rice Energy reports strong 3Q
Rice Energy Inc. announced Thursday that Rice Midstream Partners LP has acquired the water services business of Rice’s wholly owned subsidiary, Rice Midstream Holdings LLC, for $200 million.
This acquisition includes fresh water distribution systems and other facilities related to work in the Marcellus and Utica shale plays in Washington and Greene counties and Belmont County, Ohio.
Rice, an oil and gas developer based at Southpointe, also released third-quarter results Thursday. It reported a net income of $59 million, or 43 cents per share — much better than the third quarter of 2014, when Rice lost $6.9 million (5 cents per share).
DEO Daniel J. Rice IV said in a news release: “Our third quarter results demonstrate our ability to continue executing our development plan despite challenging commodity markets. The economic investment decisions we are making today will continue to deliver significant growth in the future.”