Rex Energy 2013: Production, Revenue Up; 11 New Wells This Year
Rex Energy, our “little energy company that could (and is)” continues to chug along. A couple of days ago Rex issued their 2013 financial and operational year in review. The company, mainly focused on the Marcellus and Utica Shale region, continues to grow production (up 38% in 2013) and grow revenues (up 61% in 2013). As part of the update they give us their best guess (“guidance”) as to what lies ahead in 2014. Rex plans to drill 11 new wells and, along with a few wells already drilled, frack 17 wells in 2014.
Here’s the full Rex update for 2013/looking ahead to 2014, which includes detailed information on some of their recently drilled wells: