Rice Energy amends facility to lift borrowing base to $875 million

By Marisa Wong

Morgantown, W.Va., May 17 – Rice Energy Inc. entered into on Monday an eighth amendment to its third amended and restated credit agreement with Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The lenders completed their semiannual redetermination of the borrowing base scheduled for May and increased the borrowing base to $875 million from $750 million.

The amendment established that aggregate elected commitment amounts are $750 million as of the amendment effective date.

The semiannual redetermination was originally scheduled for April 1. The next redetermination of the borrowing base is scheduled for October.

The independent oil and gas company is based in Canonsburg, Pa.

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