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Q1 2010 Earnings Call – Rex Energy Corp

Rex Energy Corp · May 5, 2010 · 14 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2010 Earnings Call – Rex Energy Corp – slide 1
    First Quarter 2010 Conference Call MAY 5, 2010
  2. Q1 2010 Earnings Call – Rex Energy Corp – slide 2
    Key Takeaways First Quarter of 2010 Results Oil & Gas Revenue Including Cash Settled Derivatives, a non-GAAP measure: o Up 30% compared to the Q1 2009 o Up 9% compared to Q4 2009 Lease Operating Expense: o Up 15% compared to Q1 2009…
  3. Q1 2010 Earnings Call – Rex Energy Corp – slide 3
    Daily Production & Pricing 1st 2nd 3rd 4th 1st Quarter Quarter Quarter Quarter Quarter Quarter to Quarter 2009 2009 2009 2009 2010 Change % Change Production Average Per Day Oil (Bbls) 2,013 2,019 1,930 1,930 1,886 44 2% Gas (Mcf)…
  4. Q1 2010 Earnings Call – Rex Energy Corp – slide 4
    Selected Financial Highlights 1st 2nd 3rd 4th 1st Quarter Quarter Quarter Quarter Quarter Quarter to Quarter (in millions except per share data) 2009 2009 2009 2009 2010 Change % Change Operating Revenue 8.9 11.5 13.0 15.3 16.8 1.5…
  5. Q1 2010 Earnings Call – Rex Energy Corp – slide 5
    Hedging Summary as of May 4, 2010 Projected Oil Production Hedged (1) Projected Gas & NGL Production Hedged (1) 100% 100% 80% 80% 60% 60% 40% 40% 20% 20% 0% 0% April - Dec 2010 2011 2012 April - Dec 2010 2011 2012 % of 1st…
  6. Q1 2010 Earnings Call – Rex Energy Corp – slide 6
    Liquidity 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 1st Quarter Quarter to Quarter (in millions) 2009 2009 2009 2009 2010 Change % Change Revolving Credit Facility Borrowing Base Availability 80.0 80.0 80.0 80.0 100.0 (1) 20.0…
  7. Q1 2010 Earnings Call – Rex Energy Corp – slide 7
    Marcellus Projects Operated Butler Project Area o 40,300 net acres / 100% working interest o Wet gas superior economics o 2010 drilling program 10 wells planned Magill unit 2 wells drilled & completed Combined 24 hr rate of 5.9…
  8. Q1 2010 Earnings Call – Rex Energy Corp – slide 8
    Marcellus Projects Nonoperated Westmoreland Project Area o Operated by Williams Appalachia, LLC o 11,700 net acres (1) / 50% working interest Texas Eastern o 2010 drilling program 8 wells planned Slavek Trust unit Slavek Trust 2H:…
  9. Q1 2010 Earnings Call – Rex Energy Corp – slide 9
    Middagh Unit Middagh Unit Update Base Case Middagh ASP Unit Projected Production o Rex Energys first field size ASP flood unit targeting the Bridgeport Sandstone Oil Production Cum Oil o All wells drilled and completed utilizing 300…
  10. Q1 2010 Earnings Call – Rex Energy Corp – slide 10
    Guidance Second Quarter 2010 o Production: Average between 18.4 MMcfe and 19.4 MMcfe per day Approximately 60% crude oil o Lease Operating Expenses: Illinois Region: 29.98 per Bbls Appalachian Region: 1.26 per Mcfe o General &…
  11. Q1 2010 Earnings Call – Rex Energy Corp – slide 11
    Upcoming Events June 2010 Sunday Monday Tuesday Wednesday Thursday Friday Saturday 1 2 3 4 5 Rex Energy 2010 Annual 6 7 8 9 10 11 Meeting 12 of Stockholders - State College, PA 13 14 15 16 17 18 19 RBC Capital Markets 20…
  12. Q1 2010 Earnings Call – Rex Energy Corp – slide 12
    Appendix Non-GAAP Reconciliation Tables
  13. Q1 2010 Earnings Call – Rex Energy Corp – slide 13
    EBITDAX 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 1st Quarter (in thousands) 2009 2009 2009 2009 2010 Net Income (Loss) from Continuing Operations (1,349) (9,437) (1,186) (4,597) 1,992 Add Back (Less): DD&A & Accretion 6,171…
  14. Q1 2010 Earnings Call – Rex Energy Corp – slide 14
    Clean Earnings 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 1st Quarter (in thousands) 2009 2009 2009 2009 2010 Income (Loss) From Continuing Operations (2,552) (15,278) (2,145) (7,595) 3,273 Before Income Taxes, as reported Add…

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