Rex Energy 3Q12: Income Up, First Utica Well Pumps 70% NGLs
Last week Rex Energy Corporation reported its third quarter financial and operating results. Among Rex’s notable results: The company’s first Utica Shale well averaged a 30-day sales rate of 731 Boe/d (70% Liquids). Counter to many other energy companies, Rex’s 3Q12 revenues were up 14% from the same period last year.
Below are relevant sections of the Rex 3Q12 update: