Story updated at 10 a.m. to reflect market activity.
Rice Energy fell -0.1% to $30.91 in morning trading.
The firm reiterated its "overweight" rating for the stock. Barclays analysts Jeffery W. Robertson and Oswald Cheung said the increase was driven by strong performance from new wells in Marcellus."Strong performance from new wells in the Marcellus drove better-than-expected 1Q14 production and puts RICE on track to deliver strong growth in 2Q14," the analysts wrote. "The production profile will continue to be impacted by the timing of pad well completions as well as some expected shut-ins during the summer related to mining operations beneath its acreage. However, all of the remaining planned Marcellus wells for 2014 are currently in some stage of drilling or completion, which will reduce the variability around the timing of first production. First quarter results also benefitted from strong gas price realizations." Must read: Warren Buffett's 10 Favorite Growth Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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