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Q2 2011 Earnings Call – Rex Energy Corp

Rex Energy Corp · Aug 3, 2011 · 23 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. Q2 2011 Earnings Call – Rex Energy Corp – slide 1
    Rex Energy Second Quarter 2011 Conference Call 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. Q2 2011 Earnings Call – Rex Energy Corp – slide 2
    Key Takeaways 2nd Quarter Highlights Acquisition of Utica Shale property in Carroll County, Ohio 11,000 gross (11,000 net) acres In liquids-rich portion of the play Total prospective Utica acreage of 83,500 gross (57,900 net)…
  3. Q2 2011 Earnings Call – Rex Energy Corp – slide 3
    Selected Operational and Financial Highlights 3rd Quarter 4th Quarter 1st Quarter 2nd Quarter Quarter to Quarter 2010 2010 2011 2011 Change % Change Production Average Per Day Oil (Bbls) 1,912 1,924 1,945 1,844 101 5% Gas (Mcf) 8,415…
  4. Q2 2011 Earnings Call – Rex Energy Corp – slide 4
    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 83% 83% 68.54 104.69 80% 2012 80% 80% 67.10 112.03 70% 37% 37% 70.50…
  5. Q2 2011 Earnings Call – Rex Energy Corp – slide 5
    2011 Accelerated Capital Budget Capital Budget (Net of Drilling Carries) ( in millions) Appalachia Illinois Rockies Total Drilling & Exploitation 110.2 3.0 21.0 134.2 Tertiary Recovery Projects 0.0 3.7 0.0 3.7 Facilities,…
  6. Q2 2011 Earnings Call – Rex Energy Corp – slide 6
    Guidance 3rd Quarter 2011 Full Year 2011 Production 40.5 42.0 MMcfe/d 37.0 40.4 MMcfe/d Exit Rate (December 2011 Production) 47.0 53.5 MMcfe/d Lease Operating Expenses 8.0 9.0 million 31.0 34.0 million Cash General &…
  7. Q2 2011 Earnings Call – Rex Energy Corp – slide 7
    Marcellus Operated Overview Butler Operated Area Marcellus Operated Area in PA 63,200 gross (43,500 net) acres 2011 Operational Update o Drilled 22 gross (13.5 net) wells o Fractured and completed 11 gross (7.7net) wells o Placed in…
  8. Q2 2011 Earnings Call – Rex Energy Corp – slide 8
    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 Horizontally drilling the second of three…
  9. Q2 2011 Earnings Call – Rex Energy Corp – slide 9
    Butler County Marcellus Economics Before Tax IRR 70 60 Butler County (Wet Gas) Assumptions 50 BTAX IRR 40 IP Rate increased from 3.0 Mmcfe/d to a range of 3.2 - 3.4 30 MMcfe/d 20 5.0 Bcfe 10 4.7 million drilling and…
  10. Q2 2011 Earnings Call – Rex Energy Corp – slide 10
    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…
  11. Q2 2011 Earnings Call – Rex Energy Corp – slide 11
    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 14 gross (5.6 net) wells in Westmoreland o Drilled…
  12. Q2 2011 Earnings Call – Rex Energy Corp – slide 12
    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 Drilled, awaiting completion Westmoreland H&P 287 Frye 2.0 0.8…
  13. Q2 2011 Earnings Call – Rex Energy Corp – slide 13
    Westmoreland County Marcellus Economics Before Tax IRR 80 70 60 BTAX IRR 50 40 Westmoreland County (Dry Gas) 30 20 4.0 Bcfe Increased IP Rate from 3.0 MMcf/d to 4.0 MMcf/d 10 5.0 Bcfe 0 5.0 million drilling and completion…
  14. Q2 2011 Earnings Call – Rex Energy Corp – slide 14
    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…
  15. Q2 2011 Earnings Call – Rex Energy Corp – slide 15
    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…
  16. Q2 2011 Earnings Call – Rex Energy Corp – slide 16
    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…
  17. Q2 2011 Earnings Call – Rex Energy Corp – slide 17
    Lawrence Field ASP Update Project Update Preliminary oil response seen: o Production increased from 16 BOPD and has maintained a range of 70-78 BOPD in the last 30 days while awaiting a response from 3 producer wells o Oil cuts…
  18. Q2 2011 Earnings Call – Rex Energy Corp – slide 18
    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…
  19. Q2 2011 Earnings Call – Rex Energy Corp – slide 19
    Rex Energy Appendix Together We Can Make A Difference
  20. Q2 2011 Earnings Call – Rex Energy Corp – slide 20
    Current Hedging Summary Crude Oil 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Collar Contracts Volume Hedged 144,000 144,000 135,000 135,000 135,000 135,000 60,000 60,000 60,000 60,000 Ceiling 104.69 104.69 112.03 112.03…
  21. Q2 2011 Earnings Call – Rex Energy Corp – slide 21
    Current Hedging Summary Natural Gas Hedges Contd 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Put Contracts Volume 180,000 180,000 - - - - - - - - Floor 8.00 8.00 - - - - - - - - Put Spread Contracts Volume 180,000…
  22. Q2 2011 Earnings Call – Rex Energy Corp – slide 22
    EBITDAX 3rd Quarter 4th Quarter 1st Quarter 2nd Quarter (in thousands) 2010 2010 2011 2011 Net Income (Loss) from Continuing Operations 9,540 (6,559) (7,602) 3,484 Add Back (Less): DD&A & Accretion 4,979 6,595 5,878 6,161…
  23. Q2 2011 Earnings Call – Rex Energy Corp – slide 23
    Clean Earnings 3rd Quarter 4th Quarter 1st Quarter 2nd Quarter (in thousands) 2010 2010 2011 2011 Income (Loss) From Continuing Operations Before Income Taxes, as reported 16,150 (10,518) (12,315) 5,700 Add Back (Less):…

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