Rice Midstream to draw on revolver for purchase of Vantage entities

By Wendy Van Sickle

Columbus, Ohio, Sept. 30 – Rice Midstream Partners LP will draw down on its revolving credit facility to fund its purchase of several entities from Rice Energy Inc. for $600 million, according to an 8-K filing with the Securities and Exchange Commission.

The purchase includes Vantage Energy Appalachia LLC, Vantage Energy II Alpha, LLC, Vantage Energy II Access, LLC and Vista Gathering, LLC.

The partnership will also use proceeds from its recently announced private placement of common units.

Rice Midstream is a fee-based, growth-oriented limited partnership formed by Rice Energy to own, operate, develop and acquire midstream assets in the Appalachian Basin. Rice Energy is an oil and gas company based in Canonsburg, Pa.

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