Exploration & Production | Top Story | Capital Markets | Capital Expenditure | Drilling Program
Marcellus Driller Slashes 2015 Budget 44%; Seeks Partner
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Rex Energy Corp. has reported an update on its spending plans for 2015.
2015 Capital Budget and Production GuidanceThe company expects its 2015 operational capital expenditures to be between $180 million and $220 million, a decrease of approximately 44% from the midpoint of its 2014 capital expenditure guidance and a decrease of 43% from the midpoint of its previously announced preliminary 2015 capital expenditure plans. Despite this reduced level of capital expenditures, the company anticipates that its average daily production for 2015 will be between 196 MMcfe/d and 205 MMcfe/d. The company expects production growth of approximately 33% at the midpoint of 2015 average daily production guidance as compared to the midpoint of 2014 average daily production guidance. The expected…
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