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Rex Drills / Completes Four Wells in Q3; Reaffirms Borrowing Base
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Rex Energy reported its Q3 2016 results.
Key Points: Drilled four gross (1.4 net) wells, Fracture stimulation of three gross (1.8 net) wells Placed four gross (2.1 net) wells into sales Highlights: In Moraine East, placed three Marcellus wells on the Fleeger II pad into sales; 24 hour sales rate of 10.4 MMcfe/d; 56% liquids Gulf Coast transport online November 1, 2016; moving 130,000 Mmbtu per day of natural gas from Butler Operated Area to Gulf Coast and Midwest premium markets Production from continuing operations of 197.8 MMcfe/d, an 8% increase year-over-year Reaffirmed borrowing base of $190 million; next redetermination scheduled for Spring 2017 Third Quarter 2016 Capital InvestmentsFor the third quarter of 2016, net operational capital investments were approximately $10.9…
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