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 above in Westmoreland County. Two have already been hydro-fractured, and the third will be fractured in November.

Also, Rex plans to drill two vertical wells in Clearfield County, Pennsylvania before the end of 2008.

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

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. The Clearfield well encountered 150 feet of Marcellus Shale.

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

Thomas Stabley is Executive Vice President and CFO.

William Ottaviani is COO.