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Corporate September 2011 Presentation – Rex Energy Corp

Rex Energy Corp · Sep 10, 2011 · 24 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. Corporate September 2011 Presentation – Rex Energy Corp – slide 1
    Rex Energy Corporate Presentation September 2011 Together We Can Make A Difference Rex Energy Corporation 476 Rolling Ridge Drive State College, PA 16801 P: (814) 278-7267 F: (814) 278-7286 E: InvestorRelationsRexEnergyCorp.com…
  2. Corporate September 2011 Presentation – Rex Energy Corp – slide 2
    Rex Energy Overview Market Data NASDAQ: REXX Common shares outstanding: 44 million(1) 22% Ownership with corporate officers and directors Share Price: 12.29(2) Market Capitalization: 541 million(2) 52 Week Price Range: 8.62 -…
  3. Corporate September 2011 Presentation – Rex Energy Corp – slide 3
    Consecutive Growth 50,000 14% 18% 40,000 Mcfe/d Production 27% 30,000 37% 12% 20,000 10,000 0 4Q 2010 Actual 1Q 2011 Actual 2Q 2011 Actual 3Q 2011 Midpoint 4Q 2011 Midpoint 2011 Guidance Production Production…
  4. Corporate September 2011 Presentation – Rex Energy Corp – slide 4
    2011 Capital Budget Capital Budget Allocation by Activity 2011 Capital Program Breakdown Drilling and Exploitation 9% Budget Activity ( in millions) Tertiary Recovery Projects Drilling and Exploitation 134.2 28% Tertiary…
  5. Corporate September 2011 Presentation – Rex Energy Corp – slide 5
    Current Hedging Summary Current Production Hedged Crude Oil 100% % of Current % of Current Avg. Floor Avg. Ceiling with Floor with Ceiling Price Price 90% 2011 84% 84% 68.54 104.69 80% 2012 80% 80% 67.10 112.03 70% 2013 37% 37%…
  6. Corporate September 2011 Presentation – Rex Energy Corp – slide 6
    Appalachia Overview Butler Area (Operated) 63,200 gross (43,500 net) acres Joint Venture with Sumitomo in Butler County o 70% Rex / 30% Sumitomo Butler Midstream Joint Venture o 60% Stonehenge / 28% Rex / 12% Sumitomo o Sarsen…
  7. Corporate September 2011 Presentation – Rex Energy Corp – slide 7
    Marcellus Operated Overview Butler Operated Area Prospective Butler Units 63,200 gross (43,500 net) acres 2011 Operational Update o Drilled 27 gross (17 net) wells o Fractured and completed 15 gross (10.5 net) wells o Placed in…
  8. Corporate September 2011 Presentation – Rex Energy Corp – slide 8
    Butler County Marcellus Economics Before Tax IRR 70 60 Butler County (Wet Gas) Assumptions 50 BTAX IRR 40 Increased Initial 30-day Average Rate from 3.0 Mmcfe/d to a 30 range of 3.2 - 3.4 MMcfe/d 20 5.0 Bcfe 4.7 million…
  9. Corporate September 2011 Presentation – Rex Energy Corp – slide 9
    Why Rex Values its Presence in Butler County Butler Operated Area Total Acreage Position of 63,200 Gross (43,500 Net) acres o Allows for minimal rig movement Cheeseman 1 o Decreases in drilling time Completing o Maximizes unitized…
  10. Corporate September 2011 Presentation – Rex Energy Corp – slide 10
    Marcellus Non-Operated Overview Westmoreland, Clearfield and Centre Counties, PA Sizeable acreage position with 41,900 gross (16,600 net) acres (1) 2011 Operational Update o Drilled 18 gross (7.2 net) wells in Westmoreland o…
  11. Corporate September 2011 Presentation – Rex Energy Corp – slide 11
    Westmoreland County Marcellus Economics Before Tax IRR 80 70 60 BTAX IRR 50 40 Westmoreland County (Dry Gas) 30 4.0 Bcfe 20 Increased Initial 30-day Average Rate from 3.0 MMcf/d to 4.0 10 5.0 Bcfe MMcf/d 0 5.0 million…
  12. Corporate September 2011 Presentation – Rex Energy Corp – slide 12
    Utica Shale Overview 83,500 gross (57,900 net) acres in the Utica Shale Butler County Operations 63,200 gross (43,500 net) acres Ohio Warrior Prospect 11,000 gross (11,000 net) acres Mercer County 9,300 gross (3,400 net) acres…
  13. Corporate September 2011 Presentation – Rex Energy Corp – slide 13
    Ohio Utica Warrior Prospect 11,000 gross (11,000 net) acres in the Utica Shale (1) Close access to infrastructure and pipelines Acreage within liquids rich window of the Utica Shale Several operators actively drilling and…
  14. Corporate September 2011 Presentation – Rex Energy Corp – slide 14
    Lawrence Field ASP Overview 13,100 gross (13,000 net) acres in Lawrence Field Illinois Basin 1 billion barrels of original-oil-in-place (OOIP) Field has produced 400 MMBbls since 1906 Waterflooded in the 1950s Two successful…
  15. Corporate September 2011 Presentation – Rex Energy Corp – slide 15
    Lawrence Field ASP Update Project Update Preliminary oil response seen: Perkins-Smith Middagh Pilot Griggs o Production increased from 16 BOPD and 58 Acres 15 Acres 72 Acres has maintained a range of 80-85 BOPD in the last 30 days…
  16. Corporate September 2011 Presentation – Rex Energy Corp – slide 16
    Niobrara Overview 56,000 gross (39,000 net) acres 5 horizontal wells drilled DJ Basin 3 wells completed (infill and Matrix Porosity results) Silo DJ Basin Niobrara Summary Field Not considered a true resource play Extensive…
  17. Corporate September 2011 Presentation – Rex Energy Corp – slide 17
    APPENDIX
  18. Corporate September 2011 Presentation – Rex Energy Corp – slide 18
    Reserve Growth Proved Reserve & Compound Annual Growth Rate Year-End 2010 (1) 300 125 33.6 Mmboe (201.7 Bcfe) Drill Bit F&D cost of 0.68/ Mcfe 250 120 269.4 million PV-10 Proved Reserves (Bcfe) o 42% proved developed 115 o…
  19. Corporate September 2011 Presentation – Rex Energy Corp – slide 19
    Wet Gas Economic Yields 5.00 NYMEX equates to 6.38 per mcf price 5.00 NYMEX Henry Hub 90.00 NYMEX WTI Wellhead Production 1 mcf of Natural Gas Natural Gas NGLs Production by Product .900 mcf 1.64 gallons/ mcf(1) Gross…
  20. Corporate September 2011 Presentation – Rex Energy Corp – slide 20
    Utica Shale Geology Overview The Point Pleasant Formation, between the Utica Shale and Trenton Limestone is the target zone for drilling The Point Pleasant is a mixed carbonate/shale interval that is believed to be the source…
  21. Corporate September 2011 Presentation – Rex Energy Corp – slide 21
    Butler Operated Drilling & Completion Schedule Gross Well Net Well Rig Pad Status Count Count UDI 54 Grosick(1) 7.0 3.0 Drilling complete, awaiting fracture stimulation UDI 54 Carson 3.0 2.1 Drilling complete, awaiting fracture…
  22. Corporate September 2011 Presentation – Rex Energy Corp – slide 22
    Westmoreland & Clearfield Non Operated Drilling & Completion Schedule Gross Well Net Well County Rig Pad Status Count Count Westmoreland H&P 287 National Metals 2.0 0.8 Drilling complete, awaiting completion Westmoreland H&P 287…
  23. Corporate September 2011 Presentation – Rex Energy Corp – slide 23
    Current Hedging Summary Crude Oil 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Collar Contracts Volume Hedged 48,000 144,000 135,000 135,000 135,000 135,000 60,000 60,000 60,000 60,000 Ceiling 104.69 104.69 112.03 112.03…
  24. Corporate September 2011 Presentation – Rex Energy Corp – slide 24
    Current Hedging Summary Natural Gas Hedges Contd 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Put Contracts Volume 60,000 180,000 - - - - 210,000 210,000 210,000 210,000 Floor 8.00 8.00 - - - - 5.00 5.00 5.00 5.00 Put…

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