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Corporate May 2012 Presentation – Rex Energy Corp

Rex Energy Corp · May 10, 2012 · 33 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 May 2012 Presentation – Rex Energy Corp – slide 1
    Rex Energy Corporate Presentation May 2012 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 May 2012 Presentation – Rex Energy Corp – slide 2
    Rex Energy Overview Market Data NASDAQ: REXX Common shares outstanding: 52.9 million1 18% Ownership with corporate officers and directors Share Price: 10.942 Market Capitalization: 578.7 million2 52 Week Price Range: 8.80 - 18.002…
  3. Corporate May 2012 Presentation – Rex Energy Corp – slide 3
    Annual Consecutive Growth 80,000 78% Average Daily Production (Mcfe) 70,000 60,000 50,000 40,000 92% 30,000 26% 20,000 4% 10,000 0 2009 (A) 2010 (A) 2011 (A)1 2012 Revised Midcase Guidance (E) Natural Gas NGL &…
  4. Corporate May 2012 Presentation – Rex Energy Corp – slide 4
    2011 Proved Reserves Proved Reserves Growth 400 Year-End Proved Reserves (Bcfe) 350 300 250 200 150 100 50 0 2008 2009 2010 2011 Oil & NGLs Natural Gas Ratio of 1.27 PUD to 1 PDP in the Marcellus Shale 6
  5. Corporate May 2012 Presentation – Rex Energy Corp – slide 5
    2012 Operating Capital Budget 2012 Appalachia Drilling Program Gross (Net) Gross (Net) Wells Gross (Net) Wells Gross (Net) Wells Wells Drilled Fracture Stimulated Placed Into Service Awaiting Completion Operated 19 (13.6) 24…
  6. Corporate May 2012 Presentation – Rex Energy Corp – slide 6
    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 81% 81% 72.44 112.56 70% Commodity %…
  7. Corporate May 2012 Presentation – Rex Energy Corp – slide 7
    Acreage Summary Westmoreland, Centre, Clearfield Non-Operated Area 43,000 gross (18,300 net) acres Other Operated Utica Acreage in Warren/Mercer County Pennsylvania 16,100 gross (7,600 net) Carroll County Warrior Prospect…
  8. Corporate May 2012 Presentation – Rex Energy Corp – slide 8
    Rex Energy Liquids-Rich Resource Potential1 Butler Upper Devonian: Total Liquids-Rich Operating Area Resource Liquids Rich Potential1 MMBOE Bcfe Butler Marcellus: Liquids Rich Oil & Condensate 51.0 306.0 NGLs 122.6 735.8 Warrior…
  9. Corporate May 2012 Presentation – Rex Energy Corp – slide 9
    Leasing Program Update Marcellus Acreage Year-End 2011 1Q12 Change Butler Operated Area 44,800 46,000 +1,200 Westmoreland County, PA 7,600 9,500 +1,900 Centre/Clearfield, PA 12,500 12,700 +200 Other Marcellus 1,500 1,500 - Total…
  10. Corporate May 2012 Presentation – Rex Energy Corp – slide 10
    Appalachia Overview Butler Area (Operated) 68,400 gross (46,000 net) acres Access to three producing horizons1: Marcellus Shale (liquids rich) Utica Shale (dry gas) Upper Devonian Shale Burkett (liquids rich) Potential fourth…
  11. Corporate May 2012 Presentation – Rex Energy Corp – slide 11
    Butler Operated Area Consolidated acreage position of 68,400 gross Butler Operated Area (46,000 net) acres Allows for minimal rig movement Cheeseman 1 Utica Shale Test 9.2 MMcf/d 24-Hour Test Rate Decreases in drilling time…
  12. Corporate May 2012 Presentation – Rex Energy Corp – slide 12
    Marcellus Super Frac Results Drushel 3H (150 ft design) Super Frac: Carson 3H (150 ft design) Super Frac: Job Performed: April 2011 Job Performed: March 2012 Days on Production: 376 days Lateral Length: 3,900 Lateral Length: 3,000 26…
  13. Corporate May 2012 Presentation – Rex Energy Corp – slide 13
    Butler County Marcellus Economics Butler County Wet Gas Type Curve Butler Area (Operated) Assumptions 6,000 Gas Production Rate (Mcfe/d) Well costs of 5.3 million per well 5,000 4,000 Lateral length of 3,500 ft. 3,000 30-Day…
  14. Corporate May 2012 Presentation – Rex Energy Corp – slide 14
    Devonian Shales & Utica/Point Pleasant FORMATION NAME & DESCRIPTION Butler County Area presents the potential of four productive reservoirs, three of which have liquids potential RHINESTREET SHALE Reservoir 4 UPPER DEVONIAN…
  15. Corporate May 2012 Presentation – Rex Energy Corp – slide 15
    Butler Area Midstream & Infrastructure Firm transportation of 85.0 gross MMcf/d Butler Operated Area 25.0 gross MMcf/d available March 2012 Cheeseman 1 Remaining 60.0 gross MMcf/d available January 2013 Pipeline tap into NFG Sarsen…
  16. Corporate May 2012 Presentation – Rex Energy Corp – slide 16
    Utica Shale Overview 104,000 gross (71,400 net) acres Butler County Operations 68,400 gross (46,000 net) acres Successful well test in 2011 in Butler County - Cheeseman 1H - 9.2 MMcf/d 24 hour test rate (dry gas) Ohio Warrior…
  17. Corporate May 2012 Presentation – Rex Energy Corp – slide 17
    Ohio Utica Warrior Prospect REXX G. Graham Well Expected Location 15,000 acres in the Utica Shale CHK Mangun 22-15-5 Spud first well, Brace 1H, in April 2012 8H -1.5 Mboe/d Close access to infrastructure and pipelines REXX Brace…
  18. Corporate May 2012 Presentation – Rex Energy Corp – slide 18
    Ohio Utica Warrior South Prospect 4,500 gross (2,800 net) acres1 Located in Guernsey, Noble and Belmont Counties Acreage within liquids rich window of the Utica Shale Joint Development Agreement with MFC Drilling and ABARTA Oil &…
  19. Corporate May 2012 Presentation – Rex Energy Corp – slide 19
    Marcellus Non-Operated Overview Westmoreland, Clearfield and Centre Counties, PA Sizeable acreage position with 43,000 gross (18,300 net) acres1 34 Wells producing in Westmoreland County 8 Wells producing in Clearfield and Centre…
  20. Corporate May 2012 Presentation – Rex Energy Corp – slide 20
    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…
  21. Corporate May 2012 Presentation – Rex Energy Corp – slide 21
    Lawrence Field ASP Overview 13,100 gross (13,000 net) acres in Lawrence Field Illinois Basin Estimated 1 billion barrels of original-oil-in-place (OOIP) Middagh Unit, ASP Project Field has produced 400 MMBbls since 1906…
  22. Corporate May 2012 Presentation – Rex Energy Corp – slide 22
    Lawrence Field ASP Update Middagh Pilot: Production averaged 60.7 gross BOPD in 1Q12 compared to 65-75 gross BOPD in 4Q11. This confirms the year-end Perkins-Smith Middagh Pilot Griggs proved reserves booking of 13% of pore volume…
  23. Corporate May 2012 Presentation – Rex Energy Corp – slide 23
    ASP Economics Resource Potential Range Confirmed Resource Potential: North & Central Lawrence Units1 Proved reserve bookings at 13% of pore volume Low Case High Case recovery confirming mid-point resource potential range of 31.5…
  24. Corporate May 2012 Presentation – Rex Energy Corp – slide 24
    Appendix Responsible Development of Americas Energy Resources
  25. Corporate May 2012 Presentation – Rex Energy Corp – slide 25
    Second Quarter and Full Year 2012 Guidance Second Quarter Full Year 2012 2012 Average Daily Production 61.0 66.0 Mmcfe/d 67.0 72.0 Mmcfe/d Lease Operating Expense 10.0 12.0 million 48.0 53.0 million Cash G&A 5.0 6.0 million 20.0…
  26. Corporate May 2012 Presentation – Rex Energy Corp – slide 26
    Wet Gas Economic Yields 3.75 NYMEX equates to 3.95 per Mcf of net revenue 3.75 NYMEX Henry Hub 100.00 NYMEX WTI Wellhead Production 1 mcf of Natural Gas Natural Gas NGLs Production by Product .900 mcf 1.64 gallons/ mcf(1)…
  27. Corporate May 2012 Presentation – Rex Energy Corp – slide 27
    Butler Area Utica Shale Resource Potential1 Rex Energy Cheeseman 1H 9.2 MMcf/d Dry Gas 24-Hour Test Rate Butler Operated Area: Utica Shale Dry Gas Unproved Prospective 46,100 Acreage2 Net Potential Well Locations3 108 EUR4…
  28. Corporate May 2012 Presentation – Rex Energy Corp – slide 28
    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…
  29. Corporate May 2012 Presentation – Rex Energy Corp – slide 29
    Butler Marcellus Operated Wells In Inventory Pad Gross Well Count Net Well Count Status Gilliland 11-HB 1 0.7 Completed awaiting pipeline Carson 1H & 3H 2 1.4 Completed awaiting pipeline Carson 2H 1 0.7 Drilled Awaiting Completion…
  30. Corporate May 2012 Presentation – Rex Energy Corp – slide 30
    Butler Operated Drilling Schedule Pad Gross Well Count Net Well Count Status JRGL 1 0.7 Awaiting Drilling Rig Stebbins 1 0.7 Awaiting Drilling Rig Breakneck Beagle Club 2 1.4 Awaiting Drilling Rig Wack 1 0.7 Awaiting Drilling Rig…
  31. Corporate May 2012 Presentation – Rex Energy Corp – slide 31
    Utica Shale Drilling & Completion Schedule Area Pad Gross Well Count Net Well Count Status Carroll County, OH Brace 1 0.8 Currently Drilling Butler County, PA Hufnagle (Petro) 1 0.7 Awaiting Drilling Rig Noble County, OH Noble 1 0.8…
  32. Corporate May 2012 Presentation – Rex Energy Corp – slide 32
    Current Hedging Summary Full Year 2012-2013 Crude Oil(1) 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Collar Contracts Volume Hedged 150,000 150,000 150,000 135,000 135,000 135,000 135,000 Ceiling 111.08 111.08 111.08 112.56 112.56 112.56…
  33. Corporate May 2012 Presentation – Rex Energy Corp – slide 33
    Current Hedging Summary Contd Natural Gas Hedges Contd(1) 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 Puts Volume…

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