Rice Energy Looking For Someone to Invest in Utica Shale

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From Dow Jones:
Rice Energy, an oil and gas exploration and production company backed by Natural Gas Partners , is looking for new investors as it seeks to expand its presence in the Utica shale formation, according to several people with knowledge of the company's plans. 
One of those people said Rice Energy could raise as much as $400 million to develop its holdings in the Utica Shale, a geological formation stretching across New York, Ohio, Pennsylvania, West Virginia and parts of Canada down to Tennessee that is known for its potential oil and gas deposits. 
Several investors have been approached by Rice Energy, which already raised $100 million from Natural Gas Partners at the end of 2011, according to a private equity professional with knowledge of the company. Rice declined to comment.
Read the whole article here. 


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