Operational Updates
Rex Energy Sees Weakness In NGL Prices; Grows Production
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Rex Energy Corporation (Nasdaq:REXX) today announced its second quarter 2012 production and revenue results.
Second quarter 2012 net production volumes were 62.5 MMcfe/d, consisting of 46.3 MMcfe/d of natural gas and 2.7 MBoe/d of oil and natural gas liquids, which represents an increase of 78% over the second quarter of 2011 and an increase of 3% over the first quarter of 2012. Production for the first six months of 2012 totaled 61.6 MMcfe/d, which represents an increase of 97% over the first six months of 2011. Oil and natural gas liquids accounted for 26% of the total net production for the second quarter of 2012.
Second quarter 2012 production was constrained by an estimated 1.2 — 1.8 MMcfe/d due to involuntary production curtailments in the company's non-operated area in Westmoreland…
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