Rex Energy Corporation

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State College, Pennsylvania-based Rex Energy Corporation (NASDAQ: REXX) was reported in September, 2008 to have drilled its first Marcellus test well in Westmoreland County, Pennsylvania. This is the first of three planned vertical wells that will be drilled to a depth of 9,000 feet. The company holds approximately 68,000 acres of Marcellus Shale leases.

An October, 2008 report stated that Rex has active locations in Butler County, Pennsylvania. It owns a 50% interest with a partner in two wells there. Initial production on these wells is approximately 675 Mcf per day.

In November, 2008, the company reported that drilling is complete on the three vertical test wells mentioned above in Westmoreland County. Two have already been hydro-fractured, and a third one will be hydro-fractured in November. From the company's forth quarter, 2008 report, released in March 2009, a third well was announced in southwest Pennsylvania' with an average flow-rate of 1.4 million cu. ft./day. This is probably the same previously mentioned Westmoreland one.

Also, in early December, 2008 it was reported that Rex has two wells in Clearfield County, Pennsylvania--one complete and one still underway. Both should be completed by year-end.

It also has acreage in Centre County, Pennsylvania.

An approximate breakdown of Rex's drilling rights in the State are:
* 29,000 acres - Clearfield than Centre Counties
* 18,000 acres - Westmoreland County
* 13,000 acres - Butler County
* 10,000 acres - All other
  ------
  70,000 acres TOTAL

According to a March, 2009 report owns drilling rights to 62,000 net acres that are prospective for Marcellus shale.

The company has also received permission from the Susquehanna River Basin Commission to withdraw up to four million gallons per day for Marcellus shale drilling operations.

The company provided an update in December, 2008 stating that the two completed Westmoreland County wells are now producing with a flowrate of 300 - 500 Mcf per day, and that a third well there will be complete in mid-December. Drilling is still underway on the Clearfield and Butler County wells. One of the Clearfield well encountered 150 feet of Marcellus shale.

The company also completed drilling of its first vertical test well in Clearfield County, Pa., encountering 150 feet of Marcellus Shale formation. Two vertical wells in Butler County, Penn., have also been drilled and are expected to be completed during the first quarter of 2009 after the gas processing facility has been installed.

The company's President and CEO is Benjamin W. Hulburt.

Thomas Stabley is Executive Vice President and CFO.

William Ottaviani is COO.

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Rex Energy Corporation

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Revision as of 05:09, 7 March 2009

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 An October, 2008 report stated that Rex has active locations in Butler County, Pennsylvania. It owns a 50% interest with a partner in two wells there. Initial production on these wells is approximately 675 Mcf per day.
-In November, 2008, the company reported that drilling is complete on the three vertical test wells above in Westmoreland County. Two have already been [[Hydro-fracturing|hydro-fractured]], and the third will be fractured in November.
+In November, 2008, the company reported that drilling is complete on the three vertical test wells mentioned above in Westmoreland County. Two have already been [[Hydro-fracturing|hydro-fractured]], and a third one will be hydro-fractured in November. From the company's forth quarter, 2008 report, released in March 2009, a third well was announced in ''southwest Pennsylvania' with an average flow-rate of 1.4 million cu. ft./day. This is probably the same previously mentioned Westmoreland one.
 Also, in early December, 2008 it was reported that Rex has two wells in Clearfield County, Pennsylvania--one complete and one still underway. Both should be completed by year-end.
    ------
 ,000 acres TOTAL
+According to a March, 2009 report owns drilling rights to 62,000 net acres that are prospective for Marcellus shale.
 The company has also received permission from the [[Susquehanna River Basin Commission]] to withdraw up to four million gallons per day for Marcellus shale drilling operations.
 The company provided an update in December, 2008 stating that the two completed Westmoreland County wells are now producing with a flowrate of 300 - 500 Mcf per day, and that a third well there will be complete in mid-December. Drilling is still underway on the Clearfield and Butler County wells. One of the Clearfield well encountered 150 feet of [[Marcellus shale]].
+The company also completed drilling of its first vertical test well in Clearfield County, Pa., encountering 150 feet of Marcellus Shale formation. Two vertical wells in Butler County, Penn., have also been drilled and are expected to be completed during the first quarter of 2009 after the gas processing facility has been installed.
 The company's President and CEO is Benjamin W. Hulburt.
 William Ottaviani is COO.
-The company also completed drilling of its first vertical test well in Clearfield County, Pa., encountering 150 feet of Marcellus Shale formation. Two vertical wells in Butler County, Penn., have also been drilled and are expected to be completed during the first quarter of 2009 after the gas processing facility has been installed.