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Q4 2012 Earnings Call – Rex Energy Corp

Rex Energy Corp · Feb 27, 2013 · 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 2012 Earnings Call – Rex Energy Corp – slide 1
    Rex Energy Fourth Quarter and Year End 2012 Conference Call Responsible Development of Americas Energy Resources Rex Energy Corporation 476 Rolling Ridge Drive State College, PA 16801 P: (814) 278-7267 F: (814) 278-7286 E:…
  2. Q4 2012 Earnings Call – Rex Energy Corp – slide 2
    Highlights and Recent Development Average daily production of 73.9 MMcfe/d in 4Q12 50% growth in production 4Q12 vs. 4Q11 43% increase in liquids production 4Q12 vs. 4Q11 30% liquids mix at end of 4Q12 Completed second Upper Devonian…
  3. Q4 2012 Earnings Call – Rex Energy Corp – slide 3
    Selected Operational and Financial Highlights Continued Operations Only 4th Quarter 4th Quarter Full Year Full Year ( in millions) 2012 2011 % Change 2012 2011 % Change Production Average Per Day Oil (Bbls) 2,260 1,919 18% 2,000…
  4. Q4 2012 Earnings Call – Rex Energy Corp – slide 4
    Price Realizations 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 2012 2012 2012 2012 Average Price Per Unit: Realized crude oil price per Bbl as reported 99.31 89.97 89.00 85.33 Realized impact from cash settled derivative per…
  5. Q4 2012 Earnings Call – Rex Energy Corp – slide 5
    2013 Hedging Summary1 100% 4.30 X 88.27 X 4.51 60% of Total NGL Volumes Hedged 90% 96.43 5.00 80% 2.11 78.75 X 38% of all NGL components 103.25 hedged at 55.95/Bbl 70% 4.51 X 5.34 1.66 60% 93.02 50% 1.01 40% 3.93 30%…
  6. Q4 2012 Earnings Call – Rex Energy Corp – slide 6
    First Quarter and Full Year 2013 Guidance First Quarter Full Year 2013 2013 Average Daily Production 71.5 73.5 MMcfe/d 90.5 94.5 Mmcfe/d Lease Operating Expense 13.0 14.5 million 58.0 62.0 million Cash G&A 5.8 6.8 million 26.0…
  7. Q4 2012 Earnings Call – Rex Energy Corp – slide 7
    2012 Proved Reserves 9
  8. Q4 2012 Earnings Call – Rex Energy Corp – slide 8
    2012 Proved Reserves 2012 Proved Reserves & Finding and Development Costs 12/31/2010 12/31/2011 12/31/2012 Average Proved Reserves 201,679 366,188 618,050 -- (Mmcfe)1 Production (Mmcfe) 7,391 14,220 24,557 -- Drill-Bit Capital…
  9. Q4 2012 Earnings Call – Rex Energy Corp – slide 9
    Butler Operated Area Highlights 5-Day Sales Rate (Average Per Well)1 Butler Operated Area Target Lateral Total Total Ethane Well Name Formation Length (Mcfe/d) % Liquids Rejection (Mcfe/d) Grubbs 2H Burgh 2HD Plesniak 3H, 9H…
  10. Q4 2012 Earnings Call – Rex Energy Corp – slide 10
    Marcellus Super Frac Completion Optimization Process Drushel 3H (150 ft design) Super Frac: Job Performed: Apr. 2011; On Prod: 680 Days Lateral Spacing: 450 - 600 feet apart Lateral Length: 3,000 ; 21 Stages Type curve validates lower…
  11. Q4 2012 Earnings Call – Rex Energy Corp – slide 11
    Ohio Utica Warrior North Prospect 16,100 gross / 15,900 net acres in Carroll County, OH First well, Brace 1H, into sales in 3Q12 Warrior North Prospect 1,094 boe/d 24-hour sales rate; 1,008 boe/d 5-day sales rate; CHK Coniglio 6H: 1.1…
  12. Q4 2012 Earnings Call – Rex Energy Corp – slide 12
    Ohio Utica Warrior South Prospect 6,300 gross / 4,100 net acres1 in Guernsey, Noble Warrior South Prospect and Belmont Counties, OH GPOR Ryser 1-25H: Joint Development Agreement with MFC Drilling and Rate of 2.9 Mboe/d; 73% Liquids…
  13. Q4 2012 Earnings Call – Rex Energy Corp – slide 13
    Lawrence Field Middagh Pilot Lawrence Field ASP Oil cuts in the Pilot increased from 1.0% to 12.0% in total unit, with individual wells experiencing oil cuts above 20% Perkins-Smith Middagh Pilot Peak production was seen at 100+ BOPD…
  14. Q4 2012 Earnings Call – Rex Energy Corp – slide 14
    Rex Energy Question and Answer Session Responsible Development of Americas Energy Resources
  15. Q4 2012 Earnings Call – Rex Energy Corp – slide 15
    Rex Energy Appendix Responsible Development of Americas Energy Resources
  16. Q4 2012 Earnings Call – Rex Energy Corp – slide 16
    EBITDAX 12 Months Ending ( in thousands) 3rd Quarter 2012 4th Quarter 2012 12/31/12 Net Income (Loss) From Continuing Operations (1,742) (1,038) 57,241 Net (Income) Loss Attributable to Noncontrolling Interests (193) (303) (819)…
  17. Q4 2012 Earnings Call – Rex Energy Corp – slide 17
    Adjusted Net Income 12 Months (in thousands) 3rd Quarter 2012 4th Quarter 2012 Ending 12/31/12 Income From Continuing Operations Before Income Taxes, as reported (3,873) 1,743 95,790 Add Back (Less): Retroactive Portion of PA…
  18. Q4 2012 Earnings Call – Rex Energy Corp – slide 18
    Current Hedging Summary Crude Oil(1) 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 Swap Contracts 120,000 120,000 120,000 120,000 -- -- -- -- Volume Hedged 93.02 93.02 93.02 93.02 -- -- -- -- Price Collar Contracts Volume Hedged 45,000…
  19. Q4 2012 Earnings Call – Rex Energy Corp – slide 19
    Current Hedging Summary (Contd) Natural Gas Hedges(1) 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 Swap Contracts(2) Volume 2,010,000 2,130,000 2,130,000 2,130,000 810,000 810,000 810,000 810,000 Price 3.91 3.93 3.93 3.93 3.83 3.87 3.87…
  20. Q4 2012 Earnings Call – Rex Energy Corp – slide 20
    Current Hedging Summary (Contd) Natural Gas Liquids(1)(2) 1Q13 2Q13 3Q13 4Q13 Swap Contracts Propane Volume Hedged (Bbls) 33,000 33,000 33,000 33,000 Price per Barrel 42.42 42.42 42.42 42.42 Price per Gallon 1.01 1.01 1.01 1.01…

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