Overview:
- Rice Energy has acquired Vantage Energy in a $2.7 billion deal.
- The transaction price includes the assumption of Vantage debt.
- The purchase provides Rice with 85,00 net core Marcellus acres in Pennsylvania, along with 52,000 acres in the Utica Shale and 37,000 acres in the Barnett Shale.
- The deal is expected to close in the fourth quarter of 2016.
- Latham & Watkins (Sean Wheeler, Bill Finnegan) advised Rice.
- Vinson & Elkins (Keith Fullenweider, Creighton Smith, David Wicklund) advised Vantage.
- Sullivan & Cromwell (George Sampas) represented Rice financial adviser Evercore.
Kurt Stumpo - Journalist - North America and the Caribbean