Rice Energy Reports Increased Production, $291 Million Loss in 2015

From a press release:
Full Year 2015 Financial Results 
Net production averaged 552 MMcfe/d, a 101% increase as compared to pro forma 2014. Our 2015 average realized natural gas price, before the effect of hedges, was $2.21 per Mcf.  After giving effect to hedges, our average natural gas price was $3.18 per Mcf. The average adjusted realized price was $3.19 per Mcf.  Per unit cash production costs were $0.68 per Mcfe.  Adjusted EBITDAX during 2015 was $431.5 million. We reported adjusted net income of $0.8 million, or $0.01 per share. 
During 2015, we invested $625 million to drill and complete Marcellus and Utica wells and invested $115 million in land activity. Additionally, we invested $248 million for our retained midstream assets.
There was also this report on the company's Utica shale activity:
Utica net production averaged 174 MMcfe/d for the fourth quarter, a 196% increase relative to fourth quarter 2014. 
In 2015, we placed online 14 gross (10 net) horizontal Utica wells, including one Pennsylvania Utica well. We exited the year with 17 gross (12 net) operated Utica wells producing into sales. At year-end 2015, we had a non-operated working interest in 36 gross (7 net) producing horizontal Ohio Utica wells. 
As of December 31, 2015, our Ohio Utica leasehold position consisted of approximately 56,000 net acres and 215 undeveloped drilling locations. Our Pennsylvania Utica leasehold position in Washington and Greene Counties, consisted of approximately 49,000 net acres and 105 undeveloped drilling locations.
Read the rest of that release by clicking here. 

The company also announced its plans for 2016.  From another press release:
Exploration and Production 
Drilling and completion capital is expected to total $560 million in 2016, a 10% reduction as compared to 2015. On our Marcellus acreage in southwestern Pennsylvania, we plan to spud 25 net Marcellus wells and turn to sales 27 net wells with an average lateral length of 7,700 feet. We expect our Marcellus well costs to average $1,100 per lateral foot in 2016, which is a 7% reduction as compared to 2015 costs. On our operated Utica acreage in Belmont County, Ohio we plan to spud 12 net Utica wells and place into sales 13 net wells with an average lateral length of 9,300 feet. We expect our operated Utica well costs to average $1,450 per lateral foot in 2016, which is a 12% reduction as compared to 2015 costs. In addition, we expect to participate as a non-operator in the drilling of 5 net Uticawells and the completion of 14 net Utica wells with an average lateral length of 8,200 feet, all of which are located in Belmont County and operated by Gulfport Energy Corporation (NASDAQ: GPOR). Due to improved drilling efficiencies gained in 2015, we released one horizontal rig in January and are currently operating one Marcellus horizontal rig and one Ohio Utica horizontal rig. 
We have budgeted $80 million for land in 2016, primarily to secure strategic leaseholds within our core development areas inWashington and Greene Counties, Pennsylvania, and Belmont County, Ohio. 
In 2016, we plan to invest $155 million to further develop our 100%-owned Belmont County gathering system and to fund our portion of capital requirements of our recently announced midstream joint venture Strike Force Midstream LLC with Gulfport Energy. Separately, RMP will invest $150 million for the continued buildout of its gathering and compression systems in Pennsylvania and fresh water systems in Pennsylvania and Ohio.
Click here to read that whole release. 

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