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Q4 2010 Earnings Call – Rex Energy Corp

Rex Energy Corp · Feb 16, 2011 · 20 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. Q4 2010 Earnings Call – Rex Energy Corp – slide 1
    Rex Energy Year End 2010 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. Q4 2010 Earnings Call – Rex Energy Corp – slide 2
    Key Takeaways 4th Quarter Highlights Average Daily Production: Up 12% from 3rd quarter Oil & Gas Revenue: Up 14% from 3rd quarter Lease Operating Expense per Mcfe: down 11% compared to 3rd quarter due to increased production EBITDAX:…
  3. Q4 2010 Earnings Call – Rex Energy Corp – slide 3
    Daily Production & Pricing 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Quarter to Quarter 2010 2010 2010 2010 Change % Change Production Average Per Day Oil (Bbls) 1,886 1,856 1,912 1,924 12 1% Gas (Mcf) 7,394 7,357 8,415 10,647…
  4. Q4 2010 Earnings Call – Rex Energy Corp – slide 4
    Selected Financial Highlights 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Quarter to Quarter (in millions except per share data) 2010 2010 2010 2010 Change % Change Operating Revenue 16.8 15.7 16.9 19.5 2.6 15% Gain (Loss) on Oil &…
  5. Q4 2010 Earnings Call – Rex Energy Corp – slide 5
    Current Hedging Summary Current Production Hedged Crude Oil 110% % of Current % of Current Avg. Floor Avg. Ceiling 100% with Floor with Ceiling Price Price 2011 80% 80% 68.54 104.69 90% 2012 80% 80% 67.10 112.03 80% 2013 N/A N/A…
  6. Q4 2010 Earnings Call – Rex Energy Corp – slide 6
    Balance Sheet ( in millions) Dec. 31, 2010 Assets Cash & Cash Equivalents 11.0 Other Current Assets 34.8 Net Property and Equipment 322.7 Other Net Assets 37.5 Total Assets 406.0 Liabilities and Owners Equity Current…
  7. Q4 2010 Earnings Call – Rex Energy Corp – slide 7
    Guidance 1st Quarter 2011 Full Year 2011 Production 25.8 27.3 MMcfe/d 34.7 39.4 MMcfe/d % Production Oil 40% 34% Exit Rate (December 2011 Production) 40.7 48.5 MMcfe/d Lease Operating Expenses 6.7 7.2 million 32.0 37.0 million…
  8. Q4 2010 Earnings Call – Rex Energy Corp – slide 8
    Marcellus Projects: Butler 34,100 net acres - 70% Rex Energy / 30% Sumitomo E&P Inception to date, currently have 11 gross (7.7 net) wells in service o 5 well Drushel pad awaiting fracture stimulation estimated to begin March 1st o…
  9. Q4 2010 Earnings Call – Rex Energy Corp – slide 9
    2011 Butler Drilling Schedule Gross Well Net Well Rig Pad Count Count Status UDI 54 Drushel1 5 3.5 Awaiting fracture and completion in 1Q11 Horizontal rig currently drilling second UDI 54 Talarico 3 2.1 of three wells to fracture…
  10. Q4 2010 Earnings Call – Rex Energy Corp – slide 10
    Marcellus Projects: Westmoreland Operated by Williams Appalachia, LLC 8,600 net acres / 40% working interest E&P Inception to date, currently have 9 gross (3.6 net) wells placed in service o 5 Uschak 2 wells drilled awaiting fracture…
  11. Q4 2010 Earnings Call – Rex Energy Corp – slide 11
    2011 Westmoreland Drilling Schedule Gross Well Net Well Rig Pad Status Count Count Drilled, awaiting fracture and H&P 287 Uschak 21 5 2 completion H&P 287 Androstic 3 1.2 Currently drilling last of three wells H&P 287 National…
  12. Q4 2010 Earnings Call – Rex Energy Corp – slide 12
    Marcellus Projects: Central Centre & Clearfield Counties, Pennsylvania Operated by Williams Appalachia, LLC 11,300 net acres / 40% working interest E&P Inception to date, currently have 4 gross (1.6 net) wells placed in service…
  13. Q4 2010 Earnings Call – Rex Energy Corp – slide 13
    Lawrence Field ASP Update Project Update Middagh Unit Design Completed a 25% pore volume injection of ASP slug, and currently at 10% pore volume o Initial results expected during late first quarter 2011 to early second quarter 2011…
  14. Q4 2010 Earnings Call – Rex Energy Corp – slide 14
    Niobrara Overview 65,400 gross (45,000 net) acres 3 horizontal wells drilled and fractured , all recovering load DJ Basin Silo State 41-22H: o Drilled to a total measured depth of 11,700 ft. Rex Energy (3,560 ft. lateral length)…
  15. Q4 2010 Earnings Call – Rex Energy Corp – slide 15
    2011 Focus 1) Maintain a safe workplace, free of injury and environmental damage. 2) Fill the Sarsen plant as soon as possible. 3) Complete our Butler County drilling program in anticipation of having additional midstream capacity…
  16. Q4 2010 Earnings Call – Rex Energy Corp – slide 16
    Rex Energy Appendix: Non-GAAP Reconciliation Tables Together We Can Make A Difference
  17. Q4 2010 Earnings Call – Rex Energy Corp – slide 17
    Current Hedging Summary(1) Crude Oil 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 Collar Contracts Volume Hedged 144,000 144,000 144,000 144,000 135,000 135,000 135,000 135,000 Ceiling 104.69 104.69 104.69 104.69 112.03 112.03 112.03…
  18. Q4 2010 Earnings Call – Rex Energy Corp – slide 18
    Current Hedging Summary(1) Natural Gas Hedges Contd 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 Put Contracts Volume 180,000 180,000 180,000 180,000 - - - - Floor 8.00 8.00 8.00 8.00 - - - - Put Contracts with Short Volume 180,000…
  19. Q4 2010 Earnings Call – Rex Energy Corp – slide 19
    EBITDAX 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year (in thousands) 2010 2010 2010 2010 2010 Net Income (Loss) from Continuing Operations 1,992 813 9,540 (6,559) 5,783 Add Back (Less): DD&A & Accretion 5,092 5,139 4,979…
  20. Q4 2010 Earnings Call – Rex Energy Corp – slide 20
    Clean Earnings 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year (in thousands) 2010 2010 2010 2010 2010 Income (Loss) From Continuing Operations Before Income Taxes, as 3,273 956 16,150 (10,518) 9,858 reported Add Back…

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