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.

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 for various clients in the energy market. The company serves a diverse range of customers, offering essential services that include power generation, pipeline management, utility operations, liquefied natural gas (LNG) services, and energy marketing. By focusing on tailored gas storage services, Trinity Gas Storage aims to address the specific energy needs of its clients effectively.

Cold Bore

Venture Round in 2021
Cold Bore Technology Inc. specializes in developing down-hole sonic communication tools for the directional drilling industry within the oil and gas sector. The company offers a range of products under the SmartPAD brand, which utilizes proprietary acoustic technology to provide real-time, sensor-driven data and analytics. This technology enables clients to monitor completion operations and access vital data through a digital twin visible on handheld devices, facilitating a comprehensive overview of workflows and frac data. Founded in 2012 and headquartered in Calgary, Canada, Cold Bore Technology aims to enhance operational efficiency in drilling by delivering real-time insights from the down-hole environment to the surface.

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, particularly in blue-collar industries such as oil and gas, healthcare, and supply chain, to address complex business challenges through tailored technology. By collaborating closely with clients' internal technology teams, Umbrage focuses on creating scalable products that facilitate digital transformation and drive business success. Its deep technical expertise allows the company to effectively integrate with clients, ensuring that the solutions provided meet specific operational needs.

Cold Bore

Series B in 2019
Cold Bore Technology Inc. specializes in developing down-hole sonic communication tools for the directional drilling industry within the oil and gas sector. The company offers a range of products under the SmartPAD brand, which utilizes proprietary acoustic technology to provide real-time, sensor-driven data and analytics. This technology enables clients to monitor completion operations and access vital data through a digital twin visible on handheld devices, facilitating a comprehensive overview of workflows and frac data. Founded in 2012 and headquartered in Calgary, Canada, Cold Bore Technology aims to enhance operational efficiency in drilling by delivering real-time insights from the down-hole environment to the surface.

OAG Analytics

Corporate Round in 2019
OAG Analytics, Inc. is a Houston-based company that specializes in predictive analytical software for the oil and gas sector. Established in 2013, the company focuses on providing advanced analytics tools to upstream energy operators, allowing them to enhance their workflows with artificial intelligence. OAG Analytics' platform helps subsurface engineers and scientists optimize well designs, predict production outcomes, and assess the potential return on investment from various strategies. Additionally, it supports executives and investors by generating data-driven forecasts, evaluating asset values for transactions, and refining development strategies. By automating time-consuming tasks and uncovering complex correlations, the software enables users to focus more on analysis and decision-making, ultimately leading to improved operational efficiency and cost savings.

Cold Bore

Series A in 2018
Cold Bore Technology Inc. specializes in developing down-hole sonic communication tools for the directional drilling industry within the oil and gas sector. The company offers a range of products under the SmartPAD brand, which utilizes proprietary acoustic technology to provide real-time, sensor-driven data and analytics. This technology enables clients to monitor completion operations and access vital data through a digital twin visible on handheld devices, facilitating a comprehensive overview of workflows and frac data. Founded in 2012 and headquartered in Calgary, Canada, Cold Bore Technology aims to enhance operational efficiency in drilling by delivering real-time insights from the down-hole environment to the surface.
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