Rex Energy 1Q17: Production Drops 8.5%

As they have in previous quarters, Rex Energy released only part of their first quarter 2017 update earlier this week. Rex released an operation update on Monday, but elected to not release (yet) a financial update. Rex has struggled. They are a smaller driller focused mainly on the Marcellus/Utica–headquartered in State College, PA. In 2016, Rex lost $109 million (see Rex Energy Lost $109M in ’16, Drilling to Hold in ’17, NGLs in ’18). In company’s 2016 production was down from the previous year (see Rex Energy 4Q & 2016 Update – Production Slips from 2015). In Monday’s quarterly update, Rex reports production slipping again, down 8.5% from 1Q16. Is Rex Energy still our “little engine that could?” What’s going on with Rex? Perhaps some of the clues can be found in the quarterly production update and latest PowerPoint we could find (from March)…

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