Rex Energy (REXX) - Utica Shale

By Tim - http://oilshalegas.com

November 8, 2011 - Rex Energy (REXX) recently gave some comments about It's Utica Shale Oil Field located in Ohio, specifically, Carroll County. It appears the Carroll County area in Ohio is the "sweet spot" of the Utica Oil Shale window.

"On Slide 14, we have our Utica Shale overview. To date, we have a total of approximately 85,300 gross, 58,700 net acres perspective in this area for the Utica Shale. Chesapeake Energy has recently disclosed well results for 4 wells in their Utica Shale program, 3 of which are in close proximity to our Carroll County, Ohio acreage position. Locations and production rates for these wells are shown on the graph. As more production rates are disclosed, we feel confident that our Butler County acreage will be in the dry gas window and that all of our acreage in Carroll County, Ohio will be at ground 0 for the liquids rich condensate window."

http://www.rexenergy.com/

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Carroll County, Ohio (OH) Utica Shale

By Tim - http://oilshalegas.com

Rex Energy (REXX) has come out and updated investors on their Utica Shale Acreage located in Carroll County, Ohio. Mineral Rights land leasing has ramped up in Ohio due to the potential for a huge oil discovery in the region. Price Per acre is surging over $3,500 in the sweet spots.

http://oilshalegas.com/uticashale.html

Rex Energy has acquired the rights to lease approximately 11,000 net acres in Carroll County, Ohio (subject to title review) where the company intends to conduct exploratory operations for oil and natural gas within the Utica Shale. The company is continuing to lease acreage in this area and is planning its first well in 2012. The company expects to pay approximately $40 million or an average of $3,600 per acre.

For additional information on the Warrior Prospect, please visit the company's website at www.rexenergy.com and refer to the updated corporate presentation.

Rex Energy Corp. - Niobrara Shale and Marcellus Shale Update

By Andrea: http://oilshalegas.com

Rex Energy Corporation (REXX) announced today that production during the third quarter 2010 was 20.3 Mmcfe per day which was within the company's guidance of 19.0 Mmcfe per day to 21.0 Mmcfe per day.

Rex Energy also provided an operational update on its Niobrara Shale operations. The company's first well, the Silo State 41-22, was a Rex Energy farm-in well located in the southern part of the Silo Field in Laramie County, Wyoming. The company drilled an approximate 4,000 foot lateral and encountered oil and gas shows while drilling. Rex Energy performed a 13 stage fracture stimulation in late September 2010 which went as planned. During load recovering, the tubing inside casing parted and the company is currently recovering the tubing. This has caused a delay in the completion. To date Rex Energy has recovered 15% of the fracture load. The company expects to resume load recovering shortly.

The well was located with the boundaries of the Silo Field, and Rex Energy anticipated some pressure depletion prior to drilling the well. The company expects to take several additional weeks to clean up the well. The Silo State 41-22 will provide Rex Energy with valuable information on the viability of infill drilling and drainage in the DJ Basin.

Rex Energy is now drilling the Herrington Farms 1H well, its second Niobrara Shale well, and is currently at 2,500 feet of the horizontal leg which is approximately half of the total planned lateral length. The well is in east Silo Field area and will be more representative of the company's 40,000 net acres in the DJ Basin. Rex Energy is encouraged by the continuous oil and gas shows while drilling and is pleased to report it has commenced oil sales from the drill site. The company expects to reach total depth of the well this weekend with completion planned for November 2010. Rex Energy currently has four more locations with approved permits.

In Butler County, Pennsylvania, Rex Energy is currently completing the second and third Marcellus Shale horizontal wells of the six which had been drilled and awaiting completion. The company expects to have all six wells completed by early November 2010 at which time their jointly owned cryogenic gas processing facility is expected to be operational.

Rex Energy is continuing to inject chemicals in its alkali-surfactant-polymer unit in the Lawrence Field, Illinois. The company has reached injection of approximately 8% of the pore volume. This amount remains on schedule with previously provided timelines.


For more shale updates, visit: http://blackberrystocks.blogspot.com

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Butler County, PA: Marcellus Shale Update

By Andrea: http://oilshalegas.com

Rexx Energy Corp. (REXX) recently released an operational update on the Marcellus Shale, located in Butler County, PA:

In Butler County, Pennsylvania, Rex Energy is currently completing the second and third Marcellus Shale horizontal wells of the six which had been drilled and awaiting completion. The company expects to have all six wells completed by early November 2010 at which time their jointly owned cryogenic gas processing facility is expected to be operational.

Rex Energy is continuing to inject chemicals in its alkali-surfactant-polymer unit in the Lawrence Field, Illinois. The company has reached injection of approximately 8% of the pore volume. This amount remains on schedule with previously provided timelines.


For more shale updates, visit: http://blackberrystocks.blogspot.com

For more stock updates, visit: http://daytradingstockblog.blogspot.com

Laramie County, Wyoming: Niobrara Shale Update

By Andrea: http://oilshalegas.com

Rex Energy Corporation (REXX) recently announced that production during the third quarter 2010 was 20.3 Mmcfe per day which was within the company's guidance of 19.0 Mmcfe per day to 21.0 Mmcfe per day.

Rex Energy also provided an operational update on its Niobrara Shale operations. The company's first well, the Silo State 41-22, was a Rex Energy farm-in well located in the southern part of the Silo Field in Laramie County, Wyoming. The company drilled an approximate 4,000 foot lateral and encountered oil and gas shows while drilling. Rex Energy performed a 13 stage fracture stimulation in late September 2010 which went as planned. During load recovering, the tubing inside casing parted and the company is currently recovering the tubing. This has caused a delay in the completion. To date Rex Energy has recovered 15% of the fracture load. The company expects to resume load recovering shortly.

The well was located with the boundaries of the Silo Field, and Rex Energy anticipated some pressure depletion prior to drilling the well. The company expects to take several additional weeks to clean up the well. The Silo State 41-22 will provide Rex Energy with valuable information on the viability of infill drilling and drainage in the DJ Basin.

Rex Energy is now drilling the Herrington Farms 1H well, its second Niobrara Shale well, and is currently at 2,500 feet of the horizontal leg which is approximately half of the total planned lateral length. The well is in east Silo Field area and will be more representative of the company's 40,000 net acres in the DJ Basin. Rex Energy is encouraged by the continuous oil and gas shows while drilling and is pleased to report it has commenced oil sales from the drill site. The company expects to reach total depth of the well this weekend with completion planned for November 2010. Rex Energy currently has four more locations with approved permits.


For more shale updates, visit: http://blackberrystocks.blogspot.com

For more stock updates, visit: http://daytradingstockblog.blogspot.com

Butler County, PA - Marcellus Shale Update

By Andrea: http://oilshalegas.com

Rex Energy Corp. (REX) announced recently that it will be entering into a joint venture inolving approximately 12.9 net acres of their Marcellus shale assets in Butler County, Pennsylvania:

In Butler County, Pennsylvania, Rex Energy will sell a 15% non-operated interest in 42,200 gross (41,100 net) acres to Sumitomo for approximately $61.6 million, or $10,000 per net acre. One-half of the purchase price will be paid in cash at the time of closing, with the remaining fifty percent of the purchase price to be paid in the form of a drilling carry of 80% of Rex Energy's drilling and completion costs in the area. In connection with the transaction, the parties agreed to form an area of mutual interest (an "AMI") in Butler County. After the sale is completed, Rex Energy will own approximately 34,900 net acres within the Butler County AMI.

Rex Energy will act as the leasing agent in the Butler County AMI. Pursuant to the agreement, Sumitomo has agreed to pay all of the costs to lease approximately 9,000 net acres in the Butler County AMI (the "Phase I Leasing"), and will pay Rex Energy a leasing management fee of $1,000 per net acre during the Phase I Leasing. Upon the conclusion of the Phase I Leasing, Rex Energy and Sumitomo will cross assign interests in the leases to provide a uniformity of interest in each lease in the Butler County AMI. Assuming the full 9,000 net acres are leased, the final ownership percentages in the Butler County AMI would be approximately 70% Rex Energy and 30% Sumitomo, and Rex Energy's net acreage would remain at approximately 34,900 net acres in the AMI.

Rex Energy has also agreed to sell 30% of its interests in twenty Marcellus Shale wells within the Butler County area, including eleven wells in progress, for approximately $19.1 million. In addition, Rex Energy will sell 30% of its interest in Keystone Midstream Services, LLC, a mid-stream joint venture with Stonehenge Energy Resources, L.P., and its existing refrigeration plant for approximately $3.9 million.

For more shale updates, visit: http://blackberrystocks.blogspot.com

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Marcellus shale - Rex Energy Joint Venture

By Andrea: http://oilshalegas.com

Rex Energy Corp. (REXX) announced today that it will be entering into a joint venture with Japanese Company known as Summit Discovery Resources II, LLC. Rex Energy will transfer 12,900 net acres of their Marcellus shale assets including Marcellus shale wells and mid-stream assets. The transaction is valued at roughly $140.4 million. Under the transaction, Sumitomo will pay approximately $88.4 million in cash upon closing and an additional $52.0 million in the form of a drilling carry. Rex Energy will continue to serve as the operator of its Butler County, Pennsylvania project area.

Pursuant to the agreement, in addition to funding its own share of drilling obligations, Sumitomo has agreed to fund 80% of Rex Energy's remaining share of drilling and completion costs until the $52.0 million drilling carry is fully utilized. The closing of the joint venture transaction is subject to certain conditions, including obtaining any required consents to transfer the interests to Sumitomo. The transaction is expected to close in September 2010.

Benjamin W. Hulburt, Rex Energy President and CEO, commented, "We are extremely pleased to announce this joint venture and look forward to our partnership with Sumitomo. Upon closing this deal, we will once again be debt free with substantial cash on hand. We believe that this will enable us to continue to aggressively develop our assets, while maintaining one of the cleanest balance sheets in the industry. With approximately 91% of our capital being invested in oil and liquids rich gas assets, combined with our debt free balance sheet, we strongly believe we are very well positioned to prosper in the current commodity price environment."

For more shale updates, visit: http://blackberrystocks.blogspot.com

For more stock updates, visit: http://daytradingstockblog.blogspot.com

Laramie County, Wyoming: Niobrara Shale update

By Andrea: http://oilshalegas.com

Rex Energy Corporation (REXX) recently released an update on the Niobrara Shale in Laramie County, WY:

A large portion of their acreage is located in close proximity to the Silo Field in Laramie County, Wyoming. The Silo Field has been producing Niobrara Field of approximately 90 horizontal wells, which were built predominantly in the 1990s. Although these wells were drilled sometime ago with short laterals and single stage openhole completions, in most cases they still average in EURs of approximately 160,000 barrels of oil.

Most recently, SM Energy formerly St. Mary's reported their Atlas 1-19H well in the southern part of the Silo Field which was drilled with a longer lateral and completed using modern techniques produced at initial rate of approximately 1,000 barrels a day, far upsetting the historically well production in the field.

In late July, Rexx Energy spud their first horizontal Niobrara Shale well in the Basin which is currently drilling. The well is planned to have a 4,000 foot lateral section and they plan to complete it with a 10 to 12 stage frac. While it is still early in the play, they are optimistic that this project will become a significant asset the company.

For more shale updates, visit: http://blackberrystocks.blogspot.com

For more stock updates, visit: http://daytradingstockblog.blogspot.com

Butler County, PA: Marcellus Shale Update

By Andrea: http://oilshalegas.com

Rex Energy Corporation (REXX) recently released an update on the Marcellus Shale in Butler County, PA:

They noted that this area of the Marcellus Shale fairway is liquid rich, resulting in a higher profit margin than the dry gas areas of the play. Additionally, due to the shallower depth and relatively consistent geology in the area, they believe this will ultimately be one of the lower cost areas to drill wells.

For the year-to-date (July 2010), they have completed four new horizontal Marcellus Shale wells in Butler County. In addition, there are five wells drilled and awaiting completion in two wells currently being drilled.

Due to significant improvement in the drilling efficiencies, Rexx Energy Corp. expects to have all of the ten wells of their previously announced plan of drilling to be completed by the time the cryogenic plant commences operations early in the fourth quarter.

For more shale updates, visit: http://blackberrystockblog.blogspot.com

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Laramie County, Wyoming: Niobrara Shale

By Andrea: http://oilshalegas.com

Rex Energy Corporation (REXX) is currently drilling their first Niobrara Shale well in Laramie County, WY. Rex Energy Corporation (REXX) will use the horizontal drilling technique to drill the well which is located 14 miles Northeast of Cheyenne. The well will be drilled approximately 8,000 feet vertically and about 4,000 feet horizontally.

Read the full story here: http://www.google.com/hostednews/ap/article/ALeqM5hWD_U_uXzGDaM3DySbId0_QJNNvwD9HHJBNO0

For more shale updates, visit: http://blackberrystocks.blogspot.com

For more stock updates, visit: http://daytradingstockblog.blogspot.com