RICE ENERGY INC. (NYSE:RICE) Files An 8-K Entry into a Material Definitive Agreement
Item1.01 Entry into a Material Definitive Agreement
On March16, 2017, Rice Energy Operating LLC, as borrower (REO),
and Rice Energy Inc., as parent guarantor (the Company), entered
into the Second Amendment (the Second Amendment) to the Fourth
Amended and Restated Credit Agreement, among the Company, REO,
Wells Fargo Bank, N.A., as administrative agent, and the lenders
and other parties thereto (the Credit Agreement). The Second
Amendment, among other things, (i)revises the tenor and aggregate
notional volume limitations for the Companys hedging arrangements
contained in the Credit Agreement to permit secured financial and
physical hedging for up to six years from the date of the
applicable contract, while increasing the aggregate notional
volumes that may be subject to such contracts in the fourth and
fifth years, (ii)permits certain unsecured physical hedging
transactions through the greater of the year 2030 or a rolling
ten-year period, and (iii)amends the long-term senior unsecured
debt rating threshold with respect to qualifying non-lender hedge
counterparties.
The foregoing description of the Second Amendment is a summary
only and is qualified in its entirety by reference to the Second
Amendment, a copy of which is attached as Exhibit 10.1 to this
Current Report on Form 8-K and is incorporated herein by
reference.
Item2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
The information set forth under Item1.01 concerning the Second
Amendment is incorporated herein by reference.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
|
ExhibitNo. |
Description |
|
| 10.1 |
Second Amendment to Fourth Amended and Restated Credit Agreement, dated as of March16, 2017, by and among Rice Energy Inc., Rice Energy Operating LLC, Wells Fargo Bank, N.A., as administrative agent and each of the lenders party thereto. |
About RICE ENERGY INC. (NYSE:RICE)
Rice Energy Inc. (Rice Energy) is an independent natural gas and oil company. The Company is engaged in the acquisition, exploration and development of natural gas, oil and natural gas liquids (NGL) properties in the Appalachian Basin. The Company conducts its operations through two segments: Exploration and Production, and Midstream. The Exploration and Production segment is engaged in the acquisition, exploration and development of natural gas, oil and NGLs. The Exploration and Production segment operates in the cores of the Marcellus and Utica Shales. The Company controls approximately 231,000 net acres in the Marcellus and Ohio Utica Shale cores. It operates approximately 1,164 drilling locations. The Midstream segment is engaged in the gathering and compression of natural gas, oil and NGL production of, and in the provision of water services to support the well completion activities of, Rice Energy and third parties. RICE ENERGY INC. (NYSE:RICE) Recent Trading Information
RICE ENERGY INC. (NYSE:RICE) closed its last trading session down -0.33 at 20.90 with 2,606,271 shares trading hands.