Butler County, PA - Utica Shale - Rex Energy (REXX)

By Tim - http://oilshalegas.com

November 8, 2011 - Rex Energy (REXX) recently gave an update on their Butler County, PA Utica Shale acreage. The Utica Shale is an oil field in Ohio and a Natural Gas Field in Pennsylvania.

In Butler County, we have also completed our first horizontal Utica Shale test well, the Cheeseman #1H. The well flowed at a 24-hour test rate of 9.2 million cubic feet of dry gas per day. The well is currently shut in and is expected to be placed in service in January of 2012

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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.


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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

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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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Westmoreland County, PA : Marcellus Shale update

By Andrea: http://oilshalegas.com

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."

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

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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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Marcellus Shale: Rex Energy Provides Update

Rex Energy Corporation (REXX) provided an operational update today on its Marcellus Shale activities and 2009 capital budget.

The company is pleased to announce initial flow rates for its first two vertical test Marcellus Shale wells completed in Westmoreland County, Pennsylvania. These wells, drilled in the deeper portion of the Marcellus play, had peak flow rates of 400 and 1,200 Mcf per day respectively before being turned into sales. Each well continues to stabilize at daily production rates of 300 - 500 Mcf per day, and the high operating pressures suggest increased production is likely with further production facility optimization. The company's third vertical test well in Westmoreland County has been drilled and will be completed by mid-December.

In Clearfield County, Pennsylvania the company has recently completed drilling its first vertical test well encountering approximately 150 feet of Marcellus Shale formation. The company expects to complete the well in late December. Additionally, in Butler County, Pennsylvania area, the company participated in the drilling of two additional vertical wells with its partner. Both wells are expected to be completed during the first quarter of 2009 following installation of the company's gas processing facility.

http://ir.rexenergycorp.com/phoenix.zhtml?c=211917&p=NewsArticle&id=1232069

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.

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