Rice Energy bids for Marcellus and Utica assets from Alpha

Rice Energy Inc. has entered into a $200 million stalking horse asset purchase agreement with a subsidiary of Alpha Natural Resources Inc. to acquire 27,400 acres of undeveloped Marcellus and Utica shale assets in Greene County, Pennsylvania, reports the Observer-Reporter. The newspaper says the agreement also includes an additional 3,200 gross acres to be leased to Rice Energy and rights to deep Utica shale assets on 23,500 net acres. The agreement is part of a restructuring plan by Alpha, which filed for Chapter 11 bankruptcy protection in August 2015.

Pennsylvania