Rex 2013: Proved Reserves up 37%, Avg Drilling Costs Up Too

We like to refer to Rex Energy, the State College-based Marcellus/Utica driller as the little energy company that could. Rex is quite a bit smaller than some of the big boys, with just 77,000 leased acres in the Marcellus and 20,000 acres in the Utica. But they appear to be a healthy company–and they stay focused on their core mission of drilling in the northeast. We’ve recently mentioned “proved reserves” for some of the big boys in the Marcellus and Utica–reserves in the trillions of cubic feet. Rex’s proved reserves are in the billions of cubic feet.

Below is a Rex announcement from a few days ago outlining their proven reserves. It’s a good update because it also outlines their average costs to drill, and the locations where they drill…

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