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Corporate February 2013 Presentation – Rex Energy Corp

Rex Energy Corp · Feb 10, 2013 · 31 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 February 2013 Presentation – Rex Energy Corp – slide 1
    Rex Energy Corporate Presentation February 2013 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. Corporate February 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 February 2013 Presentation – Rex Energy Corp – slide 3
    Rex Overview Maximizing Resource Potential Large resource base with 850 potential drilling locations focused in the Appalachian and Illinois Basins with an estimated 5.0 Tcfe of net resource potential (assuming full ethane recovery)…
  4. Corporate February 2013 Presentation – Rex Energy Corp – slide 4
    Proved Reserves as of October 31, 2012 PUD : PD Ratio = 1.05 : 1 6
  5. Corporate February 2013 Presentation – Rex Energy Corp – slide 5
    Liquids-Rich Non-Proven Resource Potential1 Warrior Butler Operated Butler Operated Prospects: Assumptions Area: Upper Total Area: Marcellus Liquids-Rich Devonian Utica 3 2 Unproved Prospective Acreage2 39,900 45,900 19,300…
  6. Corporate February 2013 Presentation – Rex Energy Corp – slide 6
    2013 Capital Budget We are budgeting 230-250 million of operating capex for 2013 2013 Capital Program Breakdown 204-224 million drilling and exploration Activity Budget ( in millions) 183-200 million Appalachia (90%) Drilling &…
  7. Corporate February 2013 Presentation – Rex Energy Corp – slide 7
    Consistent Production Growth 56% CAGR; 2012 exit rate production 30% liquids 80.0 MarkWest Bluestone Plant 70.0 Additional field compression Average Daily Production (Mmcfe/d) 60.0 50.0 40.0 1st Sarsen plant starts in…
  8. Corporate February 2013 Presentation – Rex Energy Corp – slide 8
    High Quality Midstream Providers Mariner West MarkWest Y-Grade MWE Sarsen & Pipeline Pipeline Bluestone Processing Complex: 90-190 MMcf/d REXX Carroll County Acreage Dominion East REXX Butler Ohio Pipeline Operated Acreage…
  9. Corporate February 2013 Presentation – Rex Energy Corp – slide 9
    2013 Hedging Summary1 61% of Total NGL Volumes Hedged 100% 88.27 X 4.30 X 96.432 4.513 90% 78.75 X 4.51 X 80% 5.34 2.10 103.25 70% 41% of all NGL components 60% hedged at 56.01/Bbl 50% 1.01 93.02 40% 3.93 1.70 1.58 30%…
  10. Corporate February 2013 Presentation – Rex Energy Corp – slide 10
    Butler Operated Area 69,300 gross / 46,000 net acres in Butler, Beaver and Lawrence counties Butler Operated Area 45 wells producing from the wet gas window of the Marcellus Shale Increasing EURs1 through improved Super-frac2 well…
  11. Corporate February 2013 Presentation – Rex Energy Corp – slide 11
    Super-Rich Wet Gas Upside 7.00 6.49 0.21 6.00 5.23 5.00 2.90 1.85 4.00 / Mcf 3.00 2.00 3.38 3.38 1.00 0.00 1,250 BTU 1,300 BTU Gas NGLs Condensate Assumptions: 3.75 HH, 90.00 WTI, 50% WTI for NGLS. 1,250 BTU: 1.55…
  12. Corporate February 2013 Presentation – Rex Energy Corp – slide 12
    Evolution of Butler Marcellus Development Improving well designs are resulting in increased EURs1 and returns on capital Ethane Uplift and Improving Well Design Transportation Efficiencies 4.0 Bcfe EUR 5.3 Bcfe EUR 7.0 Bcfe EUR…
  13. Corporate February 2013 Presentation – Rex Energy Corp – slide 13
    Butler County Marcellus Economics Butler Area (Operated) Assumptions Butler County Wet Gas Type Curve Super-frac completion method yields attractive 7,000 Gas Production Rate (Mcfe/d) IRRs in current price environment 6,000 7…
  14. Corporate February 2013 Presentation – Rex Energy Corp – slide 14
    Ohio Utica Warrior North Prospect 16,200 gross / 15,900 net acres1 in Carroll County, OH First well, Brace 1H, into sales in 3Q 2012 Warrior North Prospect2 Encountered over 135 of Point Pleasant and 143 of CHK Coniglio 6H: 1.1…
  15. Corporate February 2013 Presentation – Rex Energy Corp – slide 15
    Carroll County Utica Stats Brace 1H* Carroll County Type Curve Lateral Length (ft) 4,100 4,500 30-Day Average Oil Rate (STB/d) 199 STB/d 255 STB/d 30-Day Average Gas Rate (Mcf/d) 1,326 Mcf/d 1,604 Mcf/d 30-Day Average NGL…
  16. Corporate February 2013 Presentation – Rex Energy Corp – slide 16
    Warrior North Decline Profile (Gross) Gross 1st Year Gross Gas Gross NGL Gross EUR Project Area Condensate % Liquids Decline EUR (Bcf) EUR (Mbbl) (Bcfe/MMBOE) EUR (Mbbl) Butler Marcellus 54% 5.8 Bcf 0 Mbbl 647 Mbbl 9.7 Bcfe 40%…
  17. Corporate February 2013 Presentation – Rex Energy Corp – slide 17
    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…
  18. Corporate February 2013 Presentation – Rex Energy Corp – slide 18
    Illinois Basin Overview Illinois Basin has produced over 4 billion barrels since Illinois Basin early 1900s in conventional stacked pays (similar to Net Acres 25,4001 Permian Basin) Represents 8% of Rex Energys proved reserves2 and…
  19. Corporate February 2013 Presentation – Rex Energy Corp – slide 19
    Illinois Basin Lawrence Field ASP 13,100 gross / 13,000 net acres Lawrence Field ASP Rex Energy has a successful enhanced oil recovery pilot using ASP We have identified numerous potential ASP flood units; the Delta Unit Perkins-Smith…
  20. Corporate February 2013 Presentation – Rex Energy Corp – slide 20
    Appendix Responsible Development of Americas Energy Resources
  21. Corporate February 2013 Presentation – Rex Energy Corp – slide 21
    Fourth Quarter and Full Year 2012 Guidance Fourth Quarter Full Year Full Year 2012 2012 2013 Average Daily 70.0 74.0 MMcfe/d 66.0 69.0 MMcfe/d 90.5 94.5 Mmcfe/d Production Lease Operating 11.5 13.0 million 46.0 50.0 million 58.0…
  22. Corporate February 2013 Presentation – Rex Energy Corp – slide 22
    Butler Operated Area Stacked Pays Stratigraphic Column 2012 20131 Rhinestreet Shale Frac one legacy vertical well to test gas quality and No planned drilling in 2013 given Marcellus liquids potential development Reservoir 4 Capital…
  23. Corporate February 2013 Presentation – Rex Energy Corp – slide 23
    Marcellus Super Frac Type-Curve Results Drushel 3H (150 ft design) Super Frac: Super Frac: Type-Curve Considerations as Job Performed: Apr. 2011; On Prod: +1 Year compared to YE 2011- 5.3 BCFE Type Curve Lateral Length: 3,000 ; 21…
  24. Corporate February 2013 Presentation – Rex Energy Corp – slide 24
    Butler Area Utica Shale Resource Potential1 Rex Energy Cheeseman 1H 5.3 MMcf/d Dry Gas 30-Day Test Rate; 4.1 MMcf/d Dry Gas 60-day Test Rate; 3.7 MMcf/d Dry Gas 120-day Test Rate Butler Operated Area: Utica Shale Dry Gas…
  25. Corporate February 2013 Presentation – Rex Energy Corp – slide 25
    Marcellus Non-Operated Overview Sizeable acreage position with 44,800 gross / 17,200 net acres1 in Westmoreland, Clearfield and Centre Marcellus Non-Operated Counties, PA Westmoreland County: 6 Bcf EUR2; attractive economics at 4.00…
  26. Corporate February 2013 Presentation – Rex Energy Corp – slide 26
    Non-Operated Midstream and Infrastructure Westmoreland County, PA Clearfield Centre County 17.0 gross MMcf/d capacity through Ecker Station tap Non-Operated Area into Dominion line 35.0 gross MMcf/d capacity through high pressure…
  27. Corporate February 2013 Presentation – Rex Energy Corp – slide 27
    Westmoreland County Marcellus Economics Westmoreland County Dry Gas Type Curve Westmoreland County (Non-Operated) 5,000 Gas Production Rate (Mcfe/d) 4,500 Assumptions 4,000 3,500 Well costs of 5.8 million per well 3,000 Lateral…
  28. Corporate February 2013 Presentation – Rex Energy Corp – slide 28
    Liquids Production Ratios Current Liquids Sales Ratio Liquids Sales Ratio With Full Ethane Sales Natural Iso-Butane Gasoline Butane 3% 7% Ethane 5% Natural 10% Gasoline 18% Iso- Butane 7% Propane 18% Butane Propane Ethane…
  29. Corporate February 2013 Presentation – Rex Energy Corp – slide 29
    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…
  30. Corporate February 2013 Presentation – Rex Energy Corp – slide 30
    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…
  31. Corporate February 2013 Presentation – Rex Energy Corp – slide 31
    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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