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Q1 2014 EARNINGS CALL – Rex Energy Corp

Rex Energy Corp · Apr 30, 2014 · 15 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.

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  1. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 1
    Rex Energy First Quarter 2014 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 2014 EARNINGS CALL – Rex Energy Corp – slide 2
    Highlights and Recent Developments First Quarter Highlights Record average daily production of 122.2 MMcfe/d in 1Q14 11% growth in production 1Q14 vs. 4Q13 9% increase in daily liquids production 1Q14 vs. 4Q13 Exceeded high-end of…
  3. Q1 2014 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) 2013 2013 2013 2014 % Change Production Average Per Day Oil (Bbls) 2,349 2,744 2,717 2,782 2% Gas…
  4. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 4
    Natural Gas Price Realizations 8+ 1.00 6.00 5.00 Average Natural Gas Prices Price Differentials to NYMEX 0.50 4.00 3.00 - 2.00 1.00 (0.50) - 1Q13 2Q13 3Q13 4Q13 1Q14 M3 Dominion South Point NYMEX Rex Avg…
  5. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 5
    Historic Propane Pricing and Sales Volumes 1.40 350,000 1.20 300,000 1.00 250,000 Propane Price (/Gal) Propane Sales (Bbls) 0.80 200,000 0.60 150,000 0.40 100,000 0.20 50,000 0.00 - 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q…
  6. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 6
    2014 Hedging Summary(1) Avg. Floor: 100% 92.79 90.00 Avg. Floor: x 75.00 4.10 80% Avg. Floor: Avg. Floor: Avg. Floor: 102.58 4.65 1.08 1.34 2.11 x 89.02 x 4.09 1.08 1.34 2.11 60% Avg. Floor: 40% 97.67 1.33 Avg. 1.33…
  7. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 7
    2015 Hedging Summary(1) 60% 50% Avg. Floor: 40% 4.17 4.67 30% x 4.20 Avg. Floor: 20% 87.92 99.75 Avg. x 87.92 Differential: 10% 4.13 (0.35) 10% 36% 2% 0% (2) (3) (4) Oil Gas Dominion Basis (/bbl) (/mcf) Swaps Collars…
  8. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 8
    Second Quarter and Full Year 2014 Guidance Second Quarter Full Year 2014 2014 Average Daily Production 125.0 135.0 MMcfe/d 143.0 149.0 MMcfe/d Lease Operating Expense 20.5 22.5 million 95.0 101.0 million Cash G&A 8.7 9.7 million…
  9. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 9
    Butler Operated Marcellus Results Butler Operated Area Key Catalysts & Upcoming Developments Commissioning of Bluestone II processing facility 11 wells completed, rested and ready to be placed into sales when plant is commissioned…
  10. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 10
    Operational Efficiencies Butler Op. Area Average Lateral Length 2013 2014 13 14 11 12 9 9 8 Number of Wells 10 8 6 6 4 1 1 0 1 2 0 0 0 < 3,000' 3,000' - 4,000' 4,000' - 5,000' 5,000' - 6,000' 6,000' - 7,000' 7,000'…
  11. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 11
    Ohio Utica Warrior Prospects 17,100 gross / 16,800 net acres in Carroll County, OH 108 potential gross drilling locations(1) Warrior North Prospect(1) Completed Wells REXX G. Graham 1H: Pad in Process 1.7 MBoe/d; 70% liquids…
  12. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 12
    Rex Energy Question and Answer Session Responsible Development of Americas Energy Resources
  13. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 13
    Rex Energy Appendix Responsible Development of Americas Energy Resources
  14. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 14
    EBITDAX ( in thousands) 2nd Quarter 2013 3rd Quarter 2013 4th Quarter 2013 1st Quarter 2014 Net Income (Loss) From Continuing Operations 13,441 1,832 (13,272) 10,437 Net Income Attributable to Noncontrolling Interests (221) (258)…
  15. Q1 2014 EARNINGS CALL – Rex Energy Corp – slide 15
    Adjusted Net Income ( in thousands) 2nd Quarter 2013 3rd Quarter 2013 4th Quarter 2013 1st Quarter 2014 Income From Continuing Operations Before Income Taxes, as reported 22,561 339 (22,679) 14,629 Add Back (Less): (Gain) Loss on…

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