Exploration & Production | Operational Updates
Rex Energy Touts 67% Increase in Oil, Gas Reserves
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Rex Energy Corporation has reported its total estimated proved oil and natural gas reserves as of October 31, 2012 and its 2013 operating capital expenditures budget and guidance.
Estimated Proved Reserves
Rex Energy reported proved oil and natural gas reserves as of October 31, 2012 of 612.1 Bcfe, an increase of 67% over December 31, 2011. Of the 612.1 Bcfe of proved reserves, 39% was attributable to oil, natural gas liquids and condensate, assuming full ethane recoveries. Excluding ethane recoveries, proved reserves increased to 489.4 Bcfe, which is an increase of 34% over proved reserves as of December 31, 2011. The proved developed portion of the reserves increased to 260.8 Bcfe from 173.3 Bcfe as of December 2011. The proved reserves estimates as of October 31, 2012 were prepared by…
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