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Q4 2011 Earnings Call – Rex Energy Corp

Rex Energy Corp · Feb 22, 2012 · 17 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 2011 Earnings Call – Rex Energy Corp – slide 1
    Rex Energy Fourth Quarter and Year End 2011 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 2011 Earnings Call – Rex Energy Corp – slide 2
    2011 Key Takeaways Operational Highlights Drilled 31 gross (19.8 net) wells in operated area; participated in 27 gross (10.4 net) wells in non-operated area Placed into service 21 gross (13.9 net) wells in operated areas, placed into…
  3. Q4 2011 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) 2011 2010 % Change 2011 2010 % Change Production Average Per Day Oil (Bbls) 1,919 1,924 0% 1,903 1,895…
  4. Q4 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% 2012 87% 87% 68.39 111.08 80% 2013 80% 80% 72.44 112.56 70% Commodity %…
  5. Q4 2011 Earnings Call – Rex Energy Corp – slide 5
    2012 Operating Capital Budget Capital Budget Allocation by Activity 7% 0% Drilling and Exploitation 2012 Capital Program Breakdown 10% Activity Budget ( in millions) Tertiary Recovery 5% Drilling and Exploitation 121.6 Projects…
  6. Q4 2011 Earnings Call – Rex Energy Corp – slide 6
    First Quarter and Full Year 2012 Guidance First Quarter Full Year 2012 2012 Average Daily Production 56.0 60.0 Mmcfe/d 63.0 68.0 Mmcfe/d Lease Operating Expense 11.0 12.0 million 50.0 55.0 million Cash G&A 5.0 6.0 million 20.0…
  7. Q4 2011 Earnings Call – Rex Energy Corp – slide 7
    2011 Proved Reserves 2011 PDP PUD Reserves Proved Reserves Growth 400 Year-End Proved Reserves (Bcfe) 350 300 250 200 PDP PUD 47% 150 53% 100 50 0 2008 2009 2010 2011 Oil & NGLs Natural Gas Ratio of 1.27 PUD to 1 PDP…
  8. Q4 2011 Earnings Call – Rex Energy Corp – slide 8
    Butler Operated Area Highlights Commissioned Voll Field Compressor Station Raised Sarsen plant inlet capacity to 40 MMcf/d Bluestone plant commissioning remains on schedule Increased EURs from 4.4 Bcfe to 5.3 Bcfe Drilling &…
  9. Q4 2011 Earnings Call – Rex Energy Corp – slide 9
    Non-Operated Area Update Increased EURs from 3.0 Bcfe to 4.2 Bcfe Seven wells on the Marco 1 and National Metals 1 pad producing above the current type curve 30-day rates 41% above type curve 60-day rates 56% above type curve…
  10. Q4 2011 Earnings Call – Rex Energy Corp – slide 10
    Ohio Utica Warrior Prospect REXX G. Graham Well Expected Location Met goal of 15,000 acres of leasehold CHK Mangun 22-15-5 8H -1.5 Mboe/d Drilling operations to begin in 2012 REXX Brace Well Expected Location First well expected…
  11. Q4 2011 Earnings Call – Rex Energy Corp – slide 11
    Lawrence Field ASP Update Middagh Pilot: Production increased from 16 BOPD and has maintained a range of 65 75 gross BOPD over the last 90 days; peak Perkins-Smith Middagh Pilot Griggs production was seen at 100+ BOPD 58 Acres 15…
  12. Q4 2011 Earnings Call – Rex Energy Corp – slide 12
    Rex Energy Question and Answer Session Responsible Development of Americas Energy Resources
  13. Q4 2011 Earnings Call – Rex Energy Corp – slide 13
    Rex Energy Appendix Responsible Development of Americas Energy Resources
  14. Q4 2011 Earnings Call – Rex Energy Corp – slide 14
    EBITDAX 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter ( in thousands) 2011 2011 2011 2011 Net Income (Loss) From Continuing Operations (3,533) 7,796 11,786 1,149 Add Back (Less): DD&A & Accretion 5,758 6,121 7,762 8,720 Non-Cash…
  15. Q4 2011 Earnings Call – Rex Energy Corp – slide 15
    Adjusted Earnings 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter (in thousands) 2011 2011 2011 2011 Income (Loss) From Continuing Operations Before Income Taxes, as reported (5,723) 12,756 18,105 1,211 Add Back (Less):…
  16. Q4 2011 Earnings Call – Rex Energy Corp – slide 16
    Current Hedging Summary Crude Oil(1) 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Collar Contracts Volume Hedged 100,000 150,000 150,000 150,000 135,000 135,000 135,000 135,000 Ceiling 111.08 111.08 111.08 111.08 112.56 112.56 112.56…
  17. Q4 2011 Earnings Call – Rex Energy Corp – slide 17
    Current Hedging Summary Contd Natural Gas Hedges Contd(1) 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Put Contracts Volume - - - - 660,000 660,000 660,000 660,000 Floor - - - - 5.00 5.00 5.00 5.00 Collar Contracts with Short…

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