market folly

Andreas Halvorsen's hedge fund firm Viking Global has filed a 13G with the SEC and disclosed a new position in shares of Rice Energy (RICE).

Per the filing, Viking now owns 6.5% of the company with over 10.13 million shares.  The filing was made due to activity on April 15th.

Per Google Finance, Rice Energy is "an independent natural gas and oil company. The Company is engaged in the acquisition, exploration and development of natural gas, oil and natural gas liquids (NGL) properties in the Appalachian Basin. The Company conducts its operations through two segments: Exploration and Production, and Midstream. The Exploration and Production segment is engaged in the acquisition, exploration and development of natural gas, oil and NGLs. The Midstream segment is engaged in the gathering and compression of natural gas, oil and NGL production of, and in the provision of water services to support the well completion activities of, Rice Energy and third parties. It holds approximately 92,000 net acres in the southwestern core of the Marcellus Shale, primarily in Washington and Greene Counties, Pennsylvania, and approximately 56,000 net acres in the southeastern core of the Utica Shale, primarily in Belmont County, Ohio."