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Rex Squeezes Budget to Bare Minimum; $15-40MM, One Rig
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Rex Energy Corporation announced its fourth quarter and full year 2015 operational and financial results.
1Q and Full Year 2016 GuidanceRex Energy is providing its guidance for the first quarter of 2016 ($ in millions). For full year 2016, the company expects production growth of 5% - 10%.
Production UpdateFourth quarter 2015 production volumes were 186.1 MMcfe/d, a decrease of 4% from the third quarter of 2015 and 5% from the fourth quarter of 2014, consisting of 113.5 MMcf/d of natural gas and 12.1 Mboe/d of oil and NGLs (including 4.5 Mbbls/d of ethane). Oil and NGLs accounted for 39% of net production during the fourth quarter. For full year 2015, production volumes increased by 27% over 2014 to 195.8 MMcfe/d, consisting of 122.2 MMcf/d of natural gas and 12.3 Mboe/d of oil and…
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