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Rice Midstream Partners LP (RMP) is an energy company.
The firm owns, operates, develops and acquires midstream assets in the Appalachian Basin. The Company operates in two segments: gathering and compression, and water services.
The gathering and compression segment provides natural gas gathering and compression services for Rice Energy Inc. (Rice Energy) and third parties in the Appalachian Basin. The Company's natural gas gathering and compression assets consist of natural gas gathering and compression systems that service producers in the dry gas core of the Marcellus Shale in southwestern Pennsylvania. The Company's gathering and compression assets include a 3.3 million dekatherms per day (MMDth/d) high-pressure dry gas gathering system and associated compression in Washington County, Pennsylvania, and an 840 thousand dekatherms per day (MDth/d) high-pressure dry gas gathering system in Greene County, Pennsylvania. The Company's gas gathering and compression assets include a total of approximately 113 miles of pipeline, with a capacity of over 4,140 MDth/d.
The water services segment is engaged in the provision of water services to support well completion activities, and to collect and recycle or dispose of flowback and produced water for Rice Energy and third parties in the Appalachian Basin. The Company's water services assets consist of water pipelines, impoundment facilities, pumping stations, take point facilities and measurement facilities, which are used to support well completion activities, and to collect and recycle or dispose of flowback and produced water for Rice Energy and third parties in Washington and Greene Counties, Pennsylvania and Belmont County, Ohio. The Company's fluid handling services include the exclusive right to provide fresh water for well completions operations in the Marcellus and Utica Shales.
Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. Please note that this is a low volume stock, use a limit order and not a market order. The firm report its quarterly results on August 4th.
52-weeks Trading Range: $8.40 - $20.65
Entry Point: $19.71
Stop Loss: $18.70
Target Price: $21.70
RMP closed at $21.91.
