Rice Energy is a privately held natural gas exploration and production company. Rice Energy had been planning for an initial public offering (IPO) that could value the company to as much as USD2.5 billion. This was according to sources that were familiar with the matter.
Rice Energy was established by a former BlackRock Inc. portfolio manager and his children. The company had already filed a confidential registration for an IPO with US regulators. This was according to three sources that spoke in condition of anonymity as the matter was held private in nature.
Two sources said that the company had tapped Barclays PLC to lead the public debut.
Rice Energy, a family owned firm, had been focusing its efforts on Pennsylvania's Marcellus shale and Utica shale in Ohio. This could value the company between USD1.5 billion to USD2.5 billion, said one of the sources. The company had been targeting early 2014 for the launch of its IPO, said sources.
Join the Conversation