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Friday, June 6, 2014

Rice Energy Talks About Why Its First Utica Shale Well Eclipsed All Others

Rice Energy shares some of its
keys to outshining other drillers
From Pittsburgh Business Times:
Daniel Rice IV, CEO of Rice Energy Inc., said his company isn't comfortable saying it drills the best wells, but it can say with a degree of confidence that it is better than the competition at getting up to the learning curve faster and cheaper. 
Speaking at Hart Energy's DUG East Conference Wednesday, Rice said the success his company has had in drilling its first well in the Utica is indicative of this. 
While the company went public in January, launching a $1 billion initial public offering, he said as a family business that still retains one-third of the shares, it's a priority for Rice executives to efficiently allocate the company's capital for development. 
A major difference between Rice and its competitors is the company's proficiency with its lateral placement, he said.
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