[Context: Vantage Energy, backed by Quantum Energy, Riverstone and Lime Rock, sold to Rice Energy and its midstream MLP Rice Midstream Partners for $3.3bn combined. The company had filed an S-1 to go public on September 13.]
Rice Energy Announces Acquisition of Vantage Energy
Strategic Acquisition of 85,000 Net Acres and Midstream Assets in the Marcellus Dry Gas Core
CANONSBURG, Pa., Sept. 26, 2016 /PRNewswire/ — Rice Energy Inc. (NYSE: RICE) (“Rice Energy”) today announced it has entered into a purchase and sale agreement (“PSA”) to acquire Vantage Energy, LLC and Vantage Energy II, LLC (collectively, “Vantage Energy”) for approximately $2.7 billion, including the assumption of debt. In connection with the acquisition, Rice Midstream Partners LP (NYSE: RMP) (“RMP”) will purchase the acquired midstream assets from Rice Energy for $600 million.