Rice Energy Announces Plans to Form Midstream MLP

CANONSBURG, Pa., Aug. 11, 2014 /PRNewswire/ -- Rice Energy Inc. (NYSE: RICE) today announced that it is pursuing the formation of a midstream master limited partnership (MLP) and intends to confidentially submit a draft Registration Statement on Form S-1 to the U.S. Securities and Exchange Commission for an initial public offering (IPO) of common units of the MLP. The offering is expected to be completed in the first half of 2015.

It is expected that the initial assets of the MLP will consist of Rice Energy's Pennsylvania gas gathering and water sourcing and distribution assets. Following the closing of the contemplated IPO, Rice Energy will control the general partner of the MLP and will own 100% of the incentive distribution rights and a majority of the MLP limited partnership units.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities.  Any offer, solicitations to offer to buy, or any sales of securities will only be made in accordance with the registration requirements of the Securities Act of 1933 or an exemption therefrom.  This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933.

About Rice Energy

Rice Energy Inc. is an independent natural gas and oil company engaged in the acquisition, exploration and development of natural gas and oil properties in the Appalachian Basin. For more information, please visit our website at www.riceenergy.com.

Forward Looking Statements

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are that are subject to a number of risks and uncertainties including, among other things, that the master limited partnership will not be formed and will not complete an initial public offering. Furthermore, the structure, nature and purpose of the master limited partnership may change materially from those described herein. No assurance can be given as to the value of the master limited partnership, the price at which its securities may trade, or whether a liquid market for those securities will develop or be maintained. All statements, other than historical facts included in this release, that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as our future capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strengths, goals, expansion and growth of our business and operations, plans, market conditions, references to future success, references to intentions as to future matters and other such matters are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although we believe that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.

In addition, Rice Energy is and the master limited partnership will be subject to the risks incident to the exploration for and development, production, gathering and sale of natural gas and oil, most of which are difficult to predict and many of which are beyond our control. These risks include, but are not limited to: commodity price volatility; inflation; lack of availability of drilling and production equipment and services; environmental risks; drilling and other operating risks; regulatory changes; the uncertainty inherent in estimating natural gas reserves and in projecting future rates of production, cash flow and access to capital; and the timing of development expenditures.  Information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our Forms 10-K, 10-Q and 8-K. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by us will be realized, or even if realized, that they will have the expected consequences to or effects on us, our business or operations. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

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SOURCE Rice Energy Inc.