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Q1 2013 Earnings Call – Rex Energy Corp

Rex Energy Corp · May 1, 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. Q1 2013 Earnings Call – Rex Energy Corp – slide 1
    Rex Energy First Quarter 2013 Conference Call Responsible Development of Americas Energy Resources Rex Energy Corporation 366 Walker Drive State College, PA 16801 P: (814) 278-7267 F: (814) 278-7286 E:…
  2. Q1 2013 Earnings Call – Rex Energy Corp – slide 2
    Highlights and Recent Development Average daily production of 75.3 MMcfe/d in 1Q13 24% growth in production 1Q13 vs. 1Q12 42% increase in liquids production 1Q13 vs. 1Q12 29% liquids mix for 1Q13 Completed the Wack 9H in Super Rich…
  3. Q1 2013 Earnings Call – Rex Energy Corp – slide 3
    Selected Operational and Financial Highlights Continued Operations Only 2nd Quarter 3rd Quarter 4th Quarter 1st Quarter ( in millions) 2012 2012 2012 2013 % Change Production Average Per Day Oil (Bbls) 1,859 1,987 2,260 2,201 3% Gas…
  4. Q1 2013 Earnings Call – Rex Energy Corp – slide 4
    Price Realizations 2nd Quarter 3rd Quarter 4th Quarter 1st Quarter 2012 2012 2012 2013 Average Price Per Unit: Realized crude oil price per Bbl as reported 89.97 89.00 85.33 91.52 Realized impact from cash settled derivative per…
  5. Q1 2013 Earnings Call – Rex Energy Corp – slide 5
    2013 Hedging Summary1 100% 90% 4.54 x 4.34 80% 5.00 45% of Total NGL Volumes Hedged 96.46 x 88.46 70% 102.36 5.34 x 80.64 24% of all NGL components 60% x 4.51 hedged at 55.36/Bbl 2.11 50% 93.02 4.06 1.66 0.98 40% 30% 20%…
  6. Q1 2013 Earnings Call – Rex Energy Corp – slide 6
    First Quarter and Full Year 2013 Guidance Second Quarter Full Year 2013 2013 Average Daily Production 84.0 88.0 MMcfe/d 90.5 94.5 Mmcfe/d Lease Operating Expense 13.5 15.5 million 58.0 62.0 million Cash G&A 6.8 7.8 million 26.0…
  7. Q1 2013 Earnings Call – Rex Energy Corp – slide 7
    Butler Operated Marcellus Results 5-Day Sales Rate (Average Per Well)1 Butler Operated Area Target Lateral Total Ethane Total Ethane Well Name Formation Length Recovery (Mcfe/d) % Liquids Rejection (Mcfe/d) Grubbs 2H Plesniak 3H, 9H…
  8. Q1 2013 Earnings Call – Rex Energy Corp – slide 8
    Butler Operated Upper Devonian / Burkett Results 30-Day Sales Rate (Average Per Well)1 Butler Operated Area Lateral Total Total Ethane Well Name Length (Mcfe/d) % Liquids Rejection (Mcfe/d) Burgh 2HD Gilliland 11 HB 2,700 3,461 48%…
  9. Q1 2013 Earnings Call – Rex Energy Corp – slide 9
    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; 30- CHK Coniglio 6H:…
  10. Q1 2013 Earnings Call – Rex Energy Corp – slide 10
    Ohio Utica Warrior South Prospect 6,700 gross / 4,100 net acres in Guernsey, Noble and Warrior South Prospect Belmont Counties, OH (63% WI) GPOR Ryser 1-25H: Joint Development Agreement with MFC Drilling and Rate of 2.9 Mboe/d; 73%…
  11. Q1 2013 Earnings Call – Rex Energy Corp – slide 11
    Marcellus Non-Operated Overview Sizeable acreage position with 40,900 gross / 16,100 net Marcellus Non-Operated acres(1) in Westmoreland, Clearfield and Centre Counties, PA Westmoreland County: 6 Bcf EUR(2); attractive economics at…
  12. Q1 2013 Earnings Call – Rex Energy Corp – slide 12
    Illinois Basin Conventional Drilling Rex Energy has identified multiple zones with conventional recompletion and infill drilling opportunities 6,500 gross / 6,300 net acres in Gibson/Posey Lawrence Field Counties, Indiana; 13,000…
  13. Q1 2013 Earnings Call – Rex Energy Corp – slide 13
    Lawrence Field Implementing ASP flood operations in Lawrence field Lawrence Field ASP acreage in Lawrence County, IL Middagh Pilot Perkins-Smith Middagh Pilot 58 Acres 15 Acres Oil cuts in the Pilot increased from 1.0% to 12.0% in…
  14. Q1 2013 Earnings Call – Rex Energy Corp – slide 14
    Rex Energy Question and Answer Session Responsible Development of Americas Energy Resources
  15. Q1 2013 Earnings Call – Rex Energy Corp – slide 15
    Rex Energy Appendix Responsible Development of Americas Energy Resources
  16. Q1 2013 Earnings Call – Rex Energy Corp – slide 16
    EBITDAX ( in thousands) 3rd Quarter 2012 4th Quarter 2012 1st Quarter 2013 Net Income (Loss) From Continuing Operations (1,742) (1,038) (2,340) Net (Income) Loss Attributable to Noncontrolling Interests (193) (303) (433) Income…
  17. Q1 2013 Earnings Call – Rex Energy Corp – slide 17
    Adjusted Net Income (in thousands) 3rd Quarter 2012 4th Quarter 2012 1st Quarter 2013 Income From Continuing Operations Before Income Taxes, as reported (3,873) 1,743 (4,344) Add Back (Less): Unrealized Gain on Derivatives 10,166…
  18. Q1 2013 Earnings Call – Rex Energy Corp – slide 18
    Current Hedging Summary Crude Oil(1) 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 Swap Contracts 120,000 120,000 120,000 -- -- -- -- Volume Hedged 93.02 93.02 93.02 -- -- -- -- Price Collar Contracts Volume Hedged 45,000 60,000 60,000 15,000…
  19. Q1 2013 Earnings Call – Rex Energy Corp – slide 19
    Current Hedging Summary (Contd) Natural Gas Hedges(1) 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 Swap Contracts(2) Volume 2,290,000 2,520,000 2,520,000 1,410,000 1,110,000 1,110,000 1,110,000 Price 3.95 4.12 4.12 4.24 3.96 3.96 3.96 Collar…
  20. Q1 2013 Earnings Call – Rex Energy Corp – slide 20
    Current Hedging Summary (Contd) Natural Gas Liquids(1)(2) 2Q13 3Q13 4Q13 1Q14 Swap Contracts Propane Volume Hedged (Bbls) 48,000 48,000 48,000 15,000 Price per Barrel 41.29 41.29 41.29 39.14 Price per Gallon 0.98 0.98 0.98 0.98…

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