Exploration & Production | Well Cost | Top Story
Rex Touts 1,057.8 Bcfe in Reserves; Lowers Well Costs
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Rex Energy Corporation has announced total estimated proved oil, NGL and natural gas reserves as of June 30, 2014.
Highlights: Estimated mid-year 2014 proved reserves reach 1,057.8 Bcfe, highest level in company's history PV-10 of approximately $1.0 billion represents a 56% increase over year-end 2013 PV-10 Increased acreage position in the Butler Operated Area by ~ 2,200 net acres since year-end 2013 Butler Operated Area well costs decreased by ~7% during first half of 2014 Estimated Mid-Year Proved ReservesRex Energy reported total estimated proved reserves as of June 30, 2014 of 1,057.8 Bcfe, an increase of approximately 208.0 Bcfe, or 24%, from total estimated proved reserves reported at year-end 2013. The estimated proved developed portion of the reserves as of June 30, 2014…
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