About Our Team
The Rice Team (Toby Z. Rice, Derek A. Rice, J. Kyle Derham and William E. Jordan) along with Daniel J. Rice IV led Rice Energy from its formation in 2007 as a start-up with no assets to a dominant upstream and midstream operator, producing and gathering over 2.0 Bcf/d of production from 250,000 net acres in the core of the Appalachian Basin. The Rice Team led 575 employees (Shalennials*) across two public companies, managing an 8-rig program and deploying $1 billion of annual development capital. The results: 95% stock price outperformance relative to its Appalachia peers, all while being named the #1 Top Workplace in Pittsburgh.
Rice Energy had outperformed EQT on almost every relevant metric before EQT acquired Rice Energy. Rice Energy built its core acreage position in EQT’s backyard, out-competing EQT despite their financial resources. Rice Energy set drilling and completion records, pioneered innovative well designs, and created technology solutions that drove our efficient, market-leading operations. And, Rice Energy instilled a team spirit and collaborative culture among our employees.
Rice Energy was acquired by EQT Corporation for $8.2 billion in 2017. Rice Midstream Partners was acquired by EQM for $2.4 billion in 2018.
Today, the Rice Team owns approximately 3% of the stock of EQT.
*Shalennial / SHālˈenēəl/ noun: an evolving, tech-driven leader of the shale generation