Rex Energy 3Q15: $95M Paper Loss, 1st Utica Well Online, Prod Up 15%
Rex Energy and Eclipse Resources are really like two peas in a pod. The people who founded Eclipse, which is shopping itself (see today’s companion story), are former Rex Energy people. Both companies are pure play, concentrating on the Marcellus/Utica, and both companies are headquartered in State College, PA. On Monday Rex Energy issued its third quarter 2015 update. The company lost nearly $95 million for 3Q15–but the entire thing was a paper loss, writedowns for the value of their assets because the price of natural gas took a nosedive. Production for the company was up 15% in 3Q15 over the same period a year earlier. Some of the biggest news we spot in the update is that Rex has been able to squeeze the costs all the way down to $5.2 million per Marcellus well they drill. Also big news: Rex put into production their very first Utica Shale well, drilled in Lawrence County, PA. Here’s the particulars…
Read More “Rex Energy 3Q15: $95M Paper Loss, 1st Utica Well Online, Prod Up 15%”

Ivan and Kathy Dubrasky are anti-drillers located in Pulaski Township (Lawrence County), PA, just across the border from Ohio and close to Youngstown. They recently hosted a tiny anti-drilling rally at their property (see
There’s no denying that compressor stations located in populated neighborhoods create problems. We have two examples to share–one from Lawrence County, PA, and one from Broome County, NY (MDN’s backyard). The usual complaint about compressor stations–required to compress natural gas and send it on its way through a pipeline system–is the noise. Noise seems to be the chief issue with a compressor station in Lawrence County, PA where landowners, many of them (most? all?) have signed leases with Hilcorp, the company that owns the compressor station in Mahoning Township, a township that borders Ohio. Although noise has also been an issue at the compressor station in the Town of Windsor, NY (Windsor borders Pennsylvania)–about five miles from the border of the City of Binghamton–noise at the Williams compressor station is now largely mitigated. In the case of the Williams compressor, the concerns by those who live closest to it are regular releases of mercaptan and constant truck traffic to and from the station…