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Rex Energy Downspacing Utica, Adding Rig to New Marcellus Acreage
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Rex Energy Corporation has provided an update on its Appalachian Basin operations, third quarter 2014 production guidance and borrowing base under its senior secured credit facility.
Appalachian Basin -- Warrior North ProspectIn the Warrior North Prospect, the company recently placed into sales the six-well Grunder pad. The six wells were drilled with an average lateral length of approximately 4,800 feet and completed with an average of 24 completion stages. In addition, the company tested approximately 600 and 500 foot spacing between the laterals on the six wells. Initial results from the downspacing tests are encouraging and the company will continue to monitor production results going forward. Using an 18/64" choke size, the six-well Grunder pad produced at an average 5-day sales…
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