Rice Energy Swings $110M Deal For Marcellus Shale Assets

Law360, New York (February 13, 2014, 6:41 PM EST) -- A Rice Energy Inc. unit will acquire gathering assets in Pennsylvania from a subsidiary of M3 Midstream LLC for $110 million, the company said Thursday, in a deal designed to help it with the construction of an 18-mile gathering system.

The transaction will see Rice Poseidon Midstream LLC receive a number of Marcellus Shale assets from M3 Appalachia Gathering LLC. The all-cash deal is expected to close in March.

Daniel J. Rice IV, Rice Energy's chief executive, praised the deal in a statement Thursday.

“The M3...
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