Rex Energy 2014: Revenues Up 39%, Production Up 66%, 50 New Wells

Rex Energy, our “little energy company that could, and does” in the Marcellus and Utica Shale turned in its 2014 financial and operational update yesterday. Rex had a good year in 2014, despite prices for natural gas heading lower. They hit a new high for production–averaging 154.4 million cubic feet equivalent per day (MMcfe/d)–that’s 66% more than the 2013 average. Total proved reserves jumped up 57% to 1.3 trillion cubic feet. Rex drilled 50 new wells across their acreage in the Marcellus and Utica Shale, and they brought 46 wells online during the year. They earned $298 million in revenue in 2014 (up 39% over 2013) and they have $420 million of liquidity–money available to use for more drilling…

Please Login to view this content. (Not a member? Join Today!)
You do not have permission to view the comments.

Please Login to post a comment