The Rice brothers have found their way back to where they made their fortune but Daniel Rice said this time they didn't want to be boxed into a certain play or even a particular sector within the industry. (Source: Hart Energy and Shutterstock.com)
The wunderkind brothers behind Rice Energy’s Appalachian kingdom can’t seem to stand still.
Too young to retire and too restless to settle down in one play, Daniel, Toby and Derek Rice have returned to the oil and gas industry, but not with a new startup as most would expect.
Still in love with the energy business, the brothers are back after the $8.2 billion sale of Rice Energy last year with the launch of Rice Investment Group (RIG). The firm, based in Pittsburgh, will invest in all facets of the oil and gas sector with a $200 million multi-strategy fund.
Daniel Rice, who led Rice Energy as its CEO, recently spoke with Hart Energy about the new venture and the Rice brothers’ aim to “mentor and grow start-up oil and gas companies in the same way that we grew Rice Energy from scratch into one of the largest energy companies in the country.”