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Q3 2009 Earnings Call – Rex Energy Corp

Rex Energy Corp · Nov 6, 2009 · 16 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. Q3 2009 Earnings Call – Rex Energy Corp – slide 1
    November 6, 2009
  2. Q3 2009 Earnings Call – Rex Energy Corp – slide 2
    Key Takeaways Solid 3rd Quarter o Gas production up 29% from previous quarter and 62% from same period in 2008 o Lease operating expenses down 26% from same period in 2008 o G&A expenses down 26% from same period in 2008 o EBITDAX…
  3. Q3 2009 Earnings Call – Rex Energy Corp – slide 3
    Production 2008 Oil Production 225 o High oil prices Focused on 200 growing oil production 175 o Began vertical well testing in the 150 MBbls 125 Marcellus Shale 100 75 1st Half 2009 50 o Low Oil Prices Ceased oil…
  4. Q3 2009 Earnings Call – Rex Energy Corp – slide 4
    Daily Production & Pricing 2nd to 3rd Quarter 1st Quarter 2nd Quarter 3rd Quarter Change % Change Production average per day Oil (Bbls) 2,013 2,019 1,930 89 4% Gas (Mcf) 3,407 3,459 4,402 943 27% Natural Gas Liquids (Bbls) 20 20…
  5. Q3 2009 Earnings Call – Rex Energy Corp – slide 5
    Hedging as of November 6, 2009 Please note, all of the estimated hedged production is based on third quarter exit rate of 2,705 BOE per day including estimated average yearly declines. Volume at Volume Current % of Current Avg. Average…
  6. Q3 2009 Earnings Call – Rex Energy Corp – slide 6
    Selected Financial Highlights 2nd to 3rd Quarter (in millions except per share data) 1st Quarter 2nd Quarter 3rd Quarter Change % Change Operating Revenue 8.9 11.5 13.0 1.5 13% Gain on Cash Settled Derivatives 8.3(1) 1.5 0.8 0.7 49%…
  7. Q3 2009 Earnings Call – Rex Energy Corp – slide 7
    Liquidity 2nd to 3rd Quarter (in millions) 1st Quarter 2nd Quarter 3rd Quarter Change % Change Revolving Credit Facility Borrowing Base Availability 80.0 80.0 80.0 0.0 0% Amount Drawn 5.0 15.0 15.0 0.0 0% Remaining Available 75.0…
  8. Q3 2009 Earnings Call – Rex Energy Corp – slide 8
    Operations: Butler County Marcellus Wells to Date Processing Plant o 4 Verticals o 1 Horizontal P. Knauff 1H Gas Processing DTI Pipeline o 1,250 BTU gas o Current plant (5 Mmcfd) o 2010 expansion plans Leasing o 22,400 net…
  9. Q3 2009 Earnings Call – Rex Energy Corp – slide 9
    Operations: Westmoreland County Marcellus Wells to Date Texas Eastern Pipeline Equitrans Pipeline o 3 Verticals o 5 Horizontals Eaglehouse 4H: InLine (1.1Mmcf/d 30day avg) Eaglehouse 7H: InLine (700 Mcf/d 30day avg) Panizzi 4H:…
  10. Q3 2009 Earnings Call – Rex Energy Corp – slide 10
    Operations: Central PA Marcellus Wells to Date o 1 Vertical Columbia Pipeline o 1 Horizontal Alder Run 1H: Drilling Fourth Quarter Activity o Complete Alder Run 1H o Drill 1 additional well Infrastructure Development o…
  11. Q3 2009 Earnings Call – Rex Energy Corp – slide 11
    Operations: Illinois Basin Conventional Drilling o Year to date drilling 19 drilled 9 wells completed and inline to date 8 wells awaiting completion o 2010 plan 2040 conventional wells Tertiary Recovery Projects o Bridgeport…
  12. Q3 2009 Earnings Call – Rex Energy Corp – slide 12
    Preliminary Thoughts on 2010 2010 program is likely to be designed around the following assumptions: 2024 gross (1518 net) horizontal Marcellus wells o 1 company operated rig in Butler County, PA throughout the year (1012 horizontal…
  13. Q3 2009 Earnings Call – Rex Energy Corp – slide 13
    Upcoming Events Thomas Weisel Partners Alternative Energy & Natural Resources Conference New York Pritchard Capital Partners Appalachian Energy Forum Boston Capital One Southcoast 2009 Energy Conference New Orleans w…
  14. Q3 2009 Earnings Call – Rex Energy Corp – slide 14
    Appendix Non-GAAP Reconciliation Tables w w w. Rex E n e rg y. c o m 15
  15. Q3 2009 Earnings Call – Rex Energy Corp – slide 15
    EBITDAX (in thousands) 1st Quarter 2nd Quarter 3rd Quarter Net Loss from Continuing Operations (1,349) (9,437) (1,186) Add Back (Less): DD&A & Accretion 6,171 6,193 6,059 NonCash Compensation (Income) 475 621 (128) Interest Expense 216…
  16. Q3 2009 Earnings Call – Rex Energy Corp – slide 16
    Clean Earnings (in thousands) 1st Quarter 2nd Quarter 3rd Quarter Net Loss from Continuing Operations (1,349) (9,437) (1,186) Add Back (Less): Unrealized Loss (Gain) on Derivatives 2,701 12,064 192 NonCash Compensation (Income) 475 621…

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