Thursday, August 12, 2010

Westmoreland County, PA : Marcellus Shale update

By Andrea:

Rexx Energy Corp. (REXX) released an update on the Marcellus shale in Westmoreland County, Pennsylvania. In their 2Q 2010 earnings call, they announced that their most recent horizontal well in the Marcellus shale tested at an initial production rate
of 4.9 million cubic feet per day over a 24-hour period; and its two most recent wells in Butler County, Pennsylvania tested at a combined rate of 6.7 million cubic feet of gas equivalent over a 24-hour period.

Marcellus shale is proving to be a strong asset to the company: Benjamin W. Hulburt, Rex Energy's President and CEO, commented, "Our 2010 second quarter production increased 21% compared to the second quarter or 2009. Driving this growth was a 113% increase in natural gas production from the Marcellus Shale and the addition of natural gas liquids into our production mix."

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