Rice reports strong production increase, but quarterly loss jumps

Cecil Township, Pennsylvania-based independent producer Rice Energy has been on the proverbial roll for more than 18 months.The company raised more than $1 billion in its IPO, it continues to successfully expand operations in the Marcellus and Utica Shale plays, and is a definite crowd favorite at conferences when sharing its success story.Unfortunately, low commodity prices are not a respecter of good companies. Rice on Thursday reported second-quarter production jumped by triple digits, but it lost $69.68 million, nearly nine times more red ink than the year-ago $7.92 million loss.Year-over-year production increases were huge. Natural gas production more than doubled, to 47.56 billion cubic feet (Bcf), and oil/natural gas liquids production jumped to 90,000 barrels from 1,000 Bbls.Net production averaged 529 million cubic feet-equivalent per day (MMcfe/d), a 120% year-over-year increase. We had a tremendous quarter operationally, significantly surpassing our expected production by c
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