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Corporate November 2013 Presentation – Rex Energy Corp

Rex Energy Corp · Nov 10, 2013 · 29 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. Corporate November 2013 Presentation – Rex Energy Corp – slide 1
    Rex Energy Corporate Presentation November 2013 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. Corporate November 2013 Presentation – Rex Energy Corp – slide 2
    Developing Liquids-Rich Asset Base Focused on developing our liquids-rich acreage in the Appalachian and Illinois Basins Appalachian Basin: Targeting wet gas windows in the Pennsylvania Marcellus and Ohio Utica Shales Illinois Basin:…
  3. Corporate November 2013 Presentation – Rex Energy Corp – slide 3
    Operational Highlights Maximizing Resource Potential Large resource base with 900 potential proved and non-proven drilling locations focused in the Appalachian Basin with an estimated 5.0 Tcfe of net resource potential (assuming full…
  4. Corporate November 2013 Presentation – Rex Energy Corp – slide 4
    Financial Highlights Strong Balance Sheet Current structure common stock, bank debt and senior notes No debt maturity until 2018 (bank debt) and 2020 (senior notes) Current credit facility of 325 million; undrawn as of 9/30/2013…
  5. Corporate November 2013 Presentation – Rex Energy Corp – slide 5
    Growing Proved Reserves Through the Drill Bit Proved Reserves Growth (Bcfe) 700 618.1 600 500 400 366.2 300 201.7 200 125.2 100 66.0 0 2008 2009 2010 2011 2012 Oil and NGLs Natural Gas Proved Reserves PV-10 Year %…
  6. Corporate November 2013 Presentation – Rex Energy Corp – slide 6
    Liquids-Rich Non-Proven Resource Potential(1) As of December 31, 2012, we have identified approximately 900 gross potential proved and non-proven drilling locations in our liquids-rich Appalachian Basin properties Additional oil…
  7. Corporate November 2013 Presentation – Rex Energy Corp – slide 7
    2013 Capital Budget Program / Guidance Budgeted 290-310 million of operating capital expenditures for 2013 85% - 90% of 2013 Budget Directed Towards Liquids-Rich Areas 2013 Capital Program Breakdown(1) 2013 Drilling & Exploration…
  8. Corporate November 2013 Presentation – Rex Energy Corp – slide 8
    Consistent Production Growth 61% CAGR(1); Q3 2013 production: 98.7 MMcfe/d; 32% liquids 120 MarkWest Bluestone 100 Plant Average Daily Production (Mmcfe/d) 80 Additional Field Compression 60 1st Sarsen plant starts 40…
  9. Corporate November 2013 Presentation – Rex Energy Corp – slide 9
    Butler Operated Area Midstream Capacity MarkWest Y-Grade MWE Sarsen & Pipeline Bluestone Processing MarkWest Energy - Keystone Processing Complex Complex Sarsen 40 MMcf/d In Service Bluestone I 50 MMcf/d In Service Bluestone II 120…
  10. Corporate November 2013 Presentation – Rex Energy Corp – slide 10
    Ohio Utica Midstream Providers Mariner West MarkWest Energy - Cadiz Processing Complex Pipeline Interim Refrigeration 60 MMcf/d In Service Cadiz I 125 MMcf/d In Service REXX Carroll Cadiz II 200 MMcf/d 3Q14 County Acreage Blue…
  11. Corporate November 2013 Presentation – Rex Energy Corp – slide 11
    2013 Hedging Summary1 100% 90% Avg. Floor: 92.69 60% of Total NGL Volumes Hedged 80% Avg. Floor: 98.50 5.00 x 88.50 4.29 70% 5.00 2.10 1.00 60% 93.39 50% 4.93 x 4.30 40% 4.00 1.66 30% 20% 1.58 10% 79% 71% 73% 35% 71%…
  12. Corporate November 2013 Presentation – Rex Energy Corp – slide 12
    2014 Hedging Summary1 100% Avg. Floor: 91.46 4.8 Bcf (17%) of natural 80% 90.00 gas basis hedged at x 75.00 NYMEX less 0.36 Avg. Floor: 102.99 4.02 (Dominion Appalachia 60% x 88.51 4.56 basis) Avg. Floor: x 3.97 1.03 40% 1.03…
  13. Corporate November 2013 Presentation – Rex Energy Corp – slide 13
    Butler Operated Marcellus Results Butler Operated Area 5-Day Sales Rate (Average Per Well)1 Grubbs 2H Total Ethane Lateral Total Total Adjusted Rejection Warner 1H, Well Name Length (Mcfe/d) % Liquids to 4,000 Lateral (Mcfe/d) 2H…
  14. Corporate November 2013 Presentation – Rex Energy Corp – slide 14
    Butler Operated Upper Devonian / Burkett Results Butler Operated Area 5-Day Sales Rate (Average Per Well)1 Total Adjusted Total Ethane Lateral Total to 4,000 Lateral Rejection Burgh 2HD Well Name Length (Mcfe/d) % Liquids Length…
  15. Corporate November 2013 Presentation – Rex Energy Corp – slide 15
    Baillie Trust Stacked Laterals 750 spacing 100 50 175 600 spacing 600 spacing Average lateral length of 4,300 feet Longest average lateral length for any combination of wells drilled from single pad Testing both…
  16. Corporate November 2013 Presentation – Rex Energy Corp – slide 16
    Super-Rich Wet Gas Upside(1) 7.00 6.48 0.27 6.00 5.36 5.00 2.61 1.76 4.00 4.00 /Mcf 3.00 4.00 2.00 3.60 3.60 1.00 0.00 Dry Gas 1,250 BTU 1,300 BTU Gas NGLs Condensate Assumptions: 4.00 HH, 90.00 WTI, 50% WTI…
  17. Corporate November 2013 Presentation – Rex Energy Corp – slide 17
    Evolution of Butler Marcellus Development Improving well designs are resulting in increased EURs(1) and returns on capital Ethane Uplift and Improving Well Design Transportation Efficiencies 9.7 Bcfe 4.0 Bcfe EUR 5.3 Bcfe EUR 7.0…
  18. Corporate November 2013 Presentation – Rex Energy Corp – slide 18
    Butler County Marcellus Economics Butler Area (Operated) Assumptions Butler County Wet Gas Type Curve 7,000 Super-frac completion method yields attractive IRRs Gas Production Rate (Mcfe/d) 6,000 in current price environment…
  19. Corporate November 2013 Presentation – Rex Energy Corp – slide 19
    Ohio Utica Warrior North Prospect 16,800 gross / 16,500 net acres in Carroll County, OH 115 potential gross drilling locations (pro forma for acreage trade) Warrior North Prospect Completed drilling three-well Ocel pad; currently being…
  20. Corporate November 2013 Presentation – Rex Energy Corp – slide 20
    Ohio Utica Warrior South Prospect 7,000 gross / 4,300 net acres in Guernsey, Noble and Warrior South Prospect Belmont Counties, OH (63% WI) 38 potential gross drilling locations2 GPOR Wagner 3-28H: Completed 5-well J. Anderson pad;…
  21. Corporate November 2013 Presentation – Rex Energy Corp – slide 21
    Illinois Basin Conventional Drilling Rex Energy has identified multiple zones with conventional recompletion and infill drilling opportunities 20,500 gross / 19,200 net acres in Indiana; 13,000 net acres in Lawrence Field Completed…
  22. Corporate November 2013 Presentation – Rex Energy Corp – slide 22
    Marcellus Non-Operated Overview Overview Marcellus Non-Operated Sizeable acreage position with 40,900 gross / 16,100 net acres(1) in Westmoreland, Clearfield and Centre Counties, PA Westmoreland County: 6 Bcf EUR(2); attractive…
  23. Corporate November 2013 Presentation – Rex Energy Corp – slide 23
    Appendix Responsible Development of Americas Energy Resources
  24. Corporate November 2013 Presentation – Rex Energy Corp – slide 24
    Butler Operated Area Stacked Pays Stratigraphic Column 2012 2013 Rhinestreet Shale Frac one legacy vertical well to test gas quality and No planned drilling in 2013 given Marcellus / Burkett liquids potential development Reservoir…
  25. Corporate November 2013 Presentation – Rex Energy Corp – slide 25
    Liquids Production Ratios Current Liquids Sales Ratio Liquids Sales Ratio With Full Ethane Sales Ethane Iso-Butane 3% 3% Butane 5% Natural Gasoline Natural 6% Gasoline 19% Iso- Butane 7% Propane 20% Butane Propane…
  26. Corporate November 2013 Presentation – Rex Energy Corp – slide 26
    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…
  27. Corporate November 2013 Presentation – Rex Energy Corp – slide 27
    Current Hedging Summary Crude Oil(1) 4Q13 1Q14 2Q14 3Q14 4Q14 Swap Contracts2 Volume Hedged 180,000 105,000 105,000 90,000 90,000 Price 93.39 97.15 97.15 97.72 97.72 Collar Contracts Volume Hedged 15,000 15,000 15,000 15,000…
  28. Corporate November 2013 Presentation – Rex Energy Corp – slide 28
    Current Hedging Summary (Contd) Natural Gas Hedges(1) 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 Swap Contracts(2) Volume 2,760,000 2,250,000 1,860,000 1,860,000 1,860,000 450,000 450,000 450,000 450,000 Price 4.00 4.09 4.08 4.08…
  29. Corporate November 2013 Presentation – Rex Energy Corp – slide 29
    Current Hedging Summary (Contd) Natural Gas Liquids(1)(2) 4Q13 1Q14 2Q14 3Q14 4Q14 Swap Contracts Propane Volume Hedged (Bbls) 99,000 81,000 60,000 60,000 60,000 Price per Barrel 42.00 42.42 43.68 43.68 43.68 Price per Gallon 1.00…

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