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Rex Cuts 2015 Budget by 30%; Updates Borrowing Base
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Rex Energy Corporation announced a re-determined borrowing base and amended financial covenants to the senior secured credit facility.
Production and Operating CapEx GuidanceRex Energy is providing an update for its first quarter 2015 production, full year 2015 production and operating capital expenditure guidance, which takes into account the new joint venture agreement in the Butler Operated Area. The company expects first quarter 2015 production volumes to be at the midpoint of its previously announced guidance of 190 -- 196 MMcfe/d. Full year 2015 production volumes are expected to range from 185 MMcfe/d -- 195 MMcfe/d, representing a 23% increase at the midpoint of guidance as compared to 2014 production volumes.
In addition, the company expects 2015 operating capital expenditures…
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