Pennsylvania-based Rice Energy is considering selling a portion of its wholly owned gas-gathering subsidiary in Ohio in the second half of 2017, Kallanish Energy reports.
Rice Olympus Midstream could be sold to Rice Midstream Partners, Rice Energy’s publicly traded master limited partnership that owns midstream assets in the Appalachian Basin.
The possible sale was mentioned in the company’s May 3 earnings call. Rice Energy CEO Daniel J. Rice IV indicated more than one-third of Rice Olympus Midstream could be sold.
Rice Olympus Midstream is a gas-gathering and compression system that serves Ohio drillers in the Utica Shale, including Rice Energy.
Rice Energy is active drilling in western Pennsylvani and eastern Ohio.