Wednesday, November 19, 2008

Marcellus Shale: Rex Energy Drilling Update 11/19/08

Rex Energy ( REXX ) recently reported earnings and gave an operational update regarding the Marcellus Shale.

Rex Energy ( REXX ) has drilled three vertical test wells in Westmoreland County, Pennsylvania, two of which were fractured stimulated during October and are currently flowing back and undergoing initial testing. The third is expected to be fracture stimulated during November. The company anticipates drilling an additional two vertical test wells in Clearfield County, Pennsylvania during the fourth quarter of 2008, and participating for 50% with its partner in two vertical wells in Butler County, Pennsylvania.

Rex Energy has been active in acquiring mineral rights over the past year.