Exhibit 99.1

FOR IMMEDIATE RELEASE

Rice Energy Reports First Quarter 2015 Results and

Increases 2015 Production Guidance

CANONSBURG, Pa., – May 7, 2015 /PRNewswire/ – Rice Energy Inc. (NYSE: RICE) (“Rice Energy”) today reported first quarter 2015 financial and operational results. Highlights during the quarter include:

Commenting on the results, Daniel J. Rice IV, Chief Executive Officer, said, “We are off to a strong start in 2015, building off our successful year in 2014. We remain committed to diligently executing our plan and delivering top-tier results.”

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First Quarter Financial Results

During the first quarter 2015, our daily net production averaged 440 MMcfe/d, an 11% increase over fourth quarter 2014 volumes and 111% increase over pro forma first quarter 2014 production. Our first quarter 2015 realized natural gas price, before the effect of hedges, was $2.42 per Mcf. After giving effect to hedges, our first quarter 2015 average natural gas price was $3.12 per Mcf. Our average adjusted realized price, including our firm transportation sales and the impact of hedges, was $3.20 per Mcf. Our average realized oil and NGL price was $24.71 per Bbl. Per unit cash production costs (lease operating; gathering, compression and transportation; and production taxes and impact fees) were $0.69 per Mcfe. Adjusted EBITDAX for the quarter was $84.3 million. We reported an adjusted net loss of $3.1 million, or ($0.02) per share, after excluding unrealized gains on derivative contracts and other non-recurring income and expense items.

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2015 Production Guidance Update

We are increasing our 2015 annual production guidance to 470 - 490 MMcfe/d, due to accelerated well timing from increased operational efficiencies. We are reaffirming our 2015 capital budget of $890 million including E&P and retained midstream investments.

Upstream Segment

Marcellus Shale

We turned to sales 8 gross (6 net) horizontal Marcellus wells during the first quarter with an average lateral length of approximately 6,225 feet and a 73% working interest. As of quarter end, our leasehold position consisted of 89,000 net acres in Washington and Greene Counties, Pennsylvania.

The following table provides certain operational data as of May 1, 2015, related to the 8 gross operated Marcellus wells brought online during the first quarter of 2015.

The following table provides operational data as of May 1, 2015 related to the 86 gross (77 net) operated Marcellus producing wells as of March 31, 2015.

In April 2015, we brought online 9 gross (8 net) Marcellus wells with an average lateral length of approximately 7,200 feet and an 89% working interest.

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Utica Shale

We turned to sales 2 gross (1 net) horizontal Utica wells during the first quarter with an average lateral length of 8,879 feet and a 56% working interest. These wells are currently producing at a managed choke rate of 18 MMcf/d with flowing casing pressures of approximately 6,000 psi per well. As of March 31, 2015, we had 57,000 net acres in southeast Ohio, concentrated in Belmont County.

Our first well, the Bigfoot 9H has cumulatively produced 4.6 Bcf after 315 days online and continues to produce at a managed choke rate of 16 MMcf/d.

The Blue Thunder 10H and 12H, our second and third Utica wells, respectively, (average 9,000 foot lateral and 67% working interest) have each cumulatively produced 3.5 Bcf after approximately 225 days online. They each continue to produce at a managed choke rate of 16 MMcf/d.

The following table provides certain operational data as of May 1, 2015, related to the 2 gross operated Utica wells brought online during the first quarter of 2015.

The following table provides operational data as of May 1, 2015 related to the 5 gross (3 net) operated Utica producing wells as of March 31, 2015.

In April 2015, we brought online three additional Utica wells (average 9,411 foot lateral, 42% working interest), which were developed parallel to our fourth and fifth Utica wells.

We are currently completing eight additional wells with an average lateral length of approximately 10,200 feet. We are continuing to see cost and operational efficiency improvements and are on track to meet our year-end 2015 targeted well cost.

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Firm Transportation and Realized Gas Pricing

Our firm transportation and firm sales portfolio underpins our anticipated production growth and enables us to access premium gas markets across the United States, including the Gulf Coast region, while reducing our pricing exposure to currently less than favorable local Appalachian markets. Approximately 51% of our first quarter 2015 production received favorable Gulf Coast, TCO and Midwest pricing, while the remaining production received local Appalachian markets pricing. For the remainder of 2015, we anticipate that approximately 66% of our production will be transported to these premium gas markets.

The following tables provide basis exposure as a percentage of our production and average differentials to NYMEX for actual results through March 31, 2015 and estimated results for the remainder of 2015 through 2016.

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Financial Position and Liquidity

In March 2015, we completed a successful $400 million placement of 7.25% senior unsecured notes due 2023 with net proceeds of $389 million for general corporate purposes, including capital expenditures.

In April 2015, the borrowing base of our reserve-based credit facility was increased by $100 million to $650 million, representing an 18% increase.

As of March 31, 2015, our liquidity position pro forma for our borrowing base re-determination, excluding RMP, was $1.2 billion, consisting of $536 million available under our upstream credit facility, $283 million available under our retained midstream credit facility and $340 million of cash on hand.

Commodity Hedging Update

The weighted average floor price of our 432 BBtu/d 2015 hedge portfolio, including our basis swaps, is $3.46 per MMBtu, representing 83% of our 2015 expected production, based on the midpoint of our updated production guidance. In addition, we have added to our 2016 derivatives portfolio and currently have 305 BBtu/d hedged at a weighted average floor price of $3.54 per MMBtu for calendar 2016. Please see the “Derivatives Information” table at the end of this press release for more detailed information about our derivatives positions.

Midstream Segment

Average daily throughput for the first quarter of 2015 was 668 MDth/d consisting of 17% third party volumes. Our first quarter total revenue was $29.4 million. Operating expenses were $13.6 million and operating income was $15.9 million.

In the first quarter, we finalized our Utica midstream arrangements with Gulfport Energy and MarkWest Energy Partners. As a result, we will provide gas gathering and compression services to Gulfport for a majority of their dry gas acreage within our joint development area. Similarly, MarkWest will provide midstream services for our wet acreage, as well as gathering and compression services for a portion of our dry gas acreage in Ohio. All agreements have a term of 15 years.

Rice Midstream Partners LP (NYSE: RMP)

Pennsylvania Gathering System

Average daily throughput for the first quarter of 2015 was 557 MDth/d consisting of 11% third party volumes. Operating revenues for the first quarter 2015 were $16.2 million and total operating expenses were $6.6 million. We reported net income of $9.1 million, or $0.16 per limited partner unit. During the first quarter, adjusted EBITDA was $12.5 million. Maintenance capital expenditures were $1.1 million and cash interest expense was $0.4 million, which generated distributable cash flow (DCF) of $10.9 million.

As of March 31, 2015, RMP’s liquidity position of $459 million consisted of $450 million available under its senior secured revolving credit facility and $9 million of cash on hand.

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On April 24, 2015, RMP declared its quarterly distribution of $0.1875 per unit for the first quarter 2015. The distribution will be payable on May 14, 2015 to unitholders on record as of May 5, 2015.

Rice Midstream Holdings

Ohio Gathering System

Average daily throughput for the first quarter of 2015 was 111 MDth/d consisting of 44% third party volumes. Construction of our Ohio gathering system continues, which is expected to provide total throughput capacity of 2.6 MMDth/d by year end 2015.

Fresh Water Distribution Systems

Construction of our fresh water distribution systems is in progress and by year end 2015 is expected to provide direct access to 10.6 MMGPD of fresh water from the Monongahela River and other regional water sources in Pennsylvania and 14.7 MMGPD of fresh water from the Ohio River and several other regional sources in Ohio for our well completion operations.

Conference Call

Rice Energy will host a conference call on May 7, 2015 at 9:00 a.m. Eastern time (8:00 a.m. Central time) to discuss first quarter 2015 financial and operating results. To listen to a live audio webcast of the conference call, please visit Rice Energy’s website at www.riceenergy.com. A replay of the conference call will be available for two weeks and can also be accessed from our homepage.

Please visit www.riceenergy.com to view a presentation containing supplemental first quarter 2015 information.

About Rice Energy

Rice Energy Inc. is an independent natural gas and oil company engaged in the acquisition, exploration and development of natural gas and oil properties in the Appalachian Basin. For more information, please visit our website at www.riceenergy.com.

Forward Looking Statements

This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than historical facts included in this release, that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as future capital expenditures (including the amount and nature thereof), projected operational results, production growth, basis exposure, hedging, the timing and number of well completions, the timing of completion and nature of midstream projects, business strategy and measures to implement strategy, competitive strengths, goals, expansion and growth of our business and operations, plans, market conditions, references to future success, references to intentions as to future matters and other such matters are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although we believe that the plans,

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intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.

We caution you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the exploration for and development, production, gathering and sale of natural gas and oil. These risks include, but are not limited to: commodity price volatility; inflation; lack of availability of drilling and production equipment and services; environmental risks; drilling and other operating risks; regulatory changes; the uncertainty inherent in estimating natural gas reserves and in projecting future rates of production, cash flow and access to capital; and the timing of development expenditures. Information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our Forms 10-K, 10-Q and 8-K. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by us will be realized, or even if realized, that they will have the expected consequences to or effects on us, our business or operations. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

Contact:

Julie Danvers, Director of Investor Relations

(832) 708-3437

Julie.Danvers@RiceEnergy.com

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Rice Energy Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

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Rice Energy Inc.

Segment Results of Operations

(Unaudited)

Exploration and Production Segment

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Midstream Segment

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Rice Energy Inc.

Supplemental Non-GAAP Financial Measure

(Unaudited)

Adjusted EBITDAX is a supplemental non-GAAP financial measure that is used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. We define Adjusted EBITDAX as net income (loss) before non-controlling interest; interest expense; income taxes; depreciation, depletion and amortization; amortization of deferred financing costs; amortization of intangible assets; derivative fair value (gain) loss, excluding net cash receipts on settled derivative instruments; non-cash stock compensation expense; non-cash incentive unit expense; exploration expenses; and contract termination fees. Adjusted EBITDAX is not a measure of net income as determined by United States generally accepted accounting principles, or GAAP.

The following table presents a reconciliation of the non-GAAP financial measure of Adjusted EBITDAX to the GAAP financial measure of net income (loss).

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Rice Energy Inc.

Supplemental Non-GAAP Financial Measure

(Unaudited)

Adjusted net income (loss) is a supplemental non-GAAP financial measure that is used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. We define adjusted net income (loss) as net income (loss) before derivative fair value (gain) loss, excluding net cash receipts on settled derivative instruments; incentive unit expense; and contract termination fees. Adjusted net income (loss) is not a measure of net income as determined by United States generally accepted accounting principles, or GAAP.

The following table presents a reconciliation of the non-GAAP financial measure of adjusted net income to the GAAP financial measure of net income (loss).

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Rice Energy Inc.

Derivatives Information

(Unaudited)

The table below provides data associated with our derivatives at May 7, 2015 for the periods indicated:

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The table below provides supplemental balance sheet data as of March 31, 2015.

The table below outlines our firm transportation capacity by pipeline for the projects to which we are committed as anchor shipper.

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