Rex Energy 1Q16: Lost $62M, but Still Drilling in the Marc/Utica

|
Rex EnergyRex Energy Corporation released its first quarter 2016 update yesterday. The company reported operating revenues were down 44% year over year. Although Rex lowered some of their expenses, the company lost $62 million in 1Q16. Production during the first three months of the year stayed just about the same as 1Q15--approximately 200 million cubic feet equivalent per day (Mmcfe/d). Rex spent $30.6 million drilling and completing wells in their various locations in the Utica and Marcellus during 1Q16--so at least they're one driller who's still drilling in our region. Here's the update with details...

To view this content, log into your member account. (Not a member? Join Today!)