Quarterly / Earnings Reports | Capital Markets | Capital Expenditure
Rex Ups CapEx; Touts NGL Production
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Rex Energy Corporation has reported first quarter 2013 production volumes of 75.3 MMcfe/d, consisting of 53.2 MMcf/d of natural gas and 3.7 Mboe/d of oil, condensate and NGLs, an increase of 24% over the first quarter of 2012 and 2% over the fourth quarter of 2012.
Oil and NGLs accounted for 29% of net production during the first quarter of 2013. First quarter 2013 production of 75.3 MMcfe/d exceeded the high end of the company's guidance of 71.5 -- 73.5 MMcfe/d by 2%.
The company also announced its first quarter 2013 natural gas, oil and NGLs price realizations (including the effect of cash-settled derivatives). For the three months ended March 31, 2013, realized prices were $4.28 per Mcf for natural gas, $90.70 per barrel for oil and condensate and $45.92 per barrel for NGLs, which was…
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