Rice Investment Group

Rice Investment Group, established in 2018 and headquartered in Carnegie, Pennsylvania, is a private equity firm specializing in the oil and gas sector. With a $200 million multi-strategy fund, the firm invests across various verticals, including upstream, midstream, oilfield services, and energy technology. Led by the former Rice Energy management team, RIG leverages its operational, technical, and strategic expertise to add value to partnerships. The firm typically invests between $1 million and $40 million per transaction, either passively alongside existing management teams or actively as the lead financial sponsor.

Daniel Rice

Partner

Derek Rice

Partner

J Derham

Partner

Past deals in Oil and Gas

X2 Resources

Seed Round in 2025
X2 Resources is a oil and gas company that targets multibillion-dollar opportunities across premier basins.

Trinity Gas Storage

Private Equity Round in 2023
Trinity Gas Storage is a gas storage company that provides customized storage solutions to cater to the diverse requirements of its clients in the energy market. The company specializes in a variety of services, including power generation, pipeline operations, utility management, liquefied natural gas (LNG) handling, and energy marketing. By offering these tailored services, Trinity Gas Storage effectively supports its customers in meeting their energy needs, positioning itself as a key player in the energy sector.

Cold Bore

Venture Round in 2021
Cold Bore Technology Inc. is a Calgary-based company that specializes in developing down-hole sonic communication tools for the directional drilling industry in the oil and gas sector. Founded in 2012, it offers innovative solutions for data acquisition and monitoring, including digital downhole acoustic monitoring and the digitization of surface operations. Cold Bore's products, marketed under the SmartPAD brand, provide real-time access to completion operations data, enabling clients to visualize and manage workflows effectively. The company's proprietary acoustic technology transmits information from the drill bit to the surface, creating a digital representation of the well environment that can be accessed on handheld devices. This advanced capability facilitates enhanced decision-making and operational efficiency in the completion process.

Umbrage

Seed Round in 2021
Umbrage is a digital craft studio that specializes in designing, developing, and delivering customized software solutions. The company partners with clients' internal technology teams to create scalable products tailored to meet the unique challenges of various blue-collar industries, including oil and gas, healthcare, and supply chain. By leveraging its deep technical expertise, Umbrage aims to facilitate digital transformation and enhance business success for its clients. Through collaboration and a focus on integration, Umbrage addresses complex business problems, enabling companies to accelerate their processes and achieve their digital objectives.

Cold Bore

Series B in 2019
Cold Bore Technology Inc. is a Calgary-based company that specializes in developing down-hole sonic communication tools for the directional drilling industry in the oil and gas sector. Founded in 2012, it offers innovative solutions for data acquisition and monitoring, including digital downhole acoustic monitoring and the digitization of surface operations. Cold Bore's products, marketed under the SmartPAD brand, provide real-time access to completion operations data, enabling clients to visualize and manage workflows effectively. The company's proprietary acoustic technology transmits information from the drill bit to the surface, creating a digital representation of the well environment that can be accessed on handheld devices. This advanced capability facilitates enhanced decision-making and operational efficiency in the completion process.

OAG Analytics

Corporate Round in 2019
OAG Analytics, Inc. is a Houston-based company that specializes in developing predictive analytical software tailored for the oil and gas industry. Founded in 2013, the company focuses on providing advanced analytics solutions to upstream energy operators. Its platform integrates artificial intelligence to automate complex tasks, allowing subsurface engineers and scientists to enhance their workflows efficiently. By offering insights into pre-drill production, development strategies, and asset evaluation, OAG Analytics empowers clients to optimize well designs, assess the probability of Return on Investment, and improve risk management strategies. The software enables users to generate data-driven forecasts, conduct reserve reports, and prioritize inventory, ultimately facilitating informed decision-making within the sector.

Cold Bore

Series A in 2018
Cold Bore Technology Inc. is a Calgary-based company that specializes in developing down-hole sonic communication tools for the directional drilling industry in the oil and gas sector. Founded in 2012, it offers innovative solutions for data acquisition and monitoring, including digital downhole acoustic monitoring and the digitization of surface operations. Cold Bore's products, marketed under the SmartPAD brand, provide real-time access to completion operations data, enabling clients to visualize and manage workflows effectively. The company's proprietary acoustic technology transmits information from the drill bit to the surface, creating a digital representation of the well environment that can be accessed on handheld devices. This advanced capability facilitates enhanced decision-making and operational efficiency in the completion process.
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