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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