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March 2016 Investor Presentation – Rex Energy Corp

Rex Energy Corp · Mar 8, 2016 · 22 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. March 2016 Investor Presentation – Rex Energy Corp – slide 1
    Rex Energy Corporate Presentation March 2016
  2. March 2016 Investor Presentation – Rex Energy Corp – slide 2
    Rex Energy Company Overview Focused on developing 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: 100% oil…
  3. March 2016 Investor Presentation – Rex Energy Corp – slide 3
    FY2016 Operational Capital Expenditures 45 40 40 35 30 25 20 15 10 15 5 0 Low-End High-End FY2016 Operational Capital Expenditures Joint development agreement reduces operational capex budget to 15 - 40 million Assumes one…
  4. March 2016 Investor Presentation – Rex Energy Corp – slide 4
    Current Capitalization(1) Simple Capital Structure Senior Secured Credit Facility due 2019 190 million borrowing base capacity Covenant Net Senior Secured Borrowings /TTM EBITDAX 3.0x; excludes firm transport letters of credit…
  5. March 2016 Investor Presentation – Rex Energy Corp – slide 5
    Company Overview
  6. March 2016 Investor Presentation – Rex Energy Corp – slide 6
    Proved Reserves Proved Reserves Growth (Bcfe) 1500 1,336.8 1300 1100 900 849.8 700 680.4 618.1 500 366.2 300 201.7 125.2 100 66.0 -100 2008 2009 2010 2011 2012 2013 2014 2015 Oil and NGLs Natural Gas Proved…
  7. March 2016 Investor Presentation – Rex Energy Corp – slide 7
    Butler Operated Area Midstream Capacity 285 MMcf/d of total current processing capacity at MarkWest Map of Butler Area Midstream Processing facilities Capacity 18 mi. pipeline currently being constructed to connect Moraine East…
  8. March 2016 Investor Presentation – Rex Energy Corp – slide 8
    Utica Midstream Providers Acreage dedication to Blue Racer Midstream Map of Utica Midstream Processing capacity at Natrium Blue Racer East Ohio Pipeline facility (Blue Racer) REXX Warrior North Acreage Warrior 14 MMcf/d of…
  9. March 2016 Investor Presentation – Rex Energy Corp – slide 9
    Proven & Non-Proven Resource Potential(1) Over 1,500 gross liquids-rich drilling locations as of December 31, 2015 based on 650 foot spacing in the Appalachian Basin assets(2) Gross Identified Net Identified Net Resource Area…
  10. March 2016 Investor Presentation – Rex Energy Corp – slide 10
    Legacy Butler Operated Area Legacy Butler Operated Area: Field Highlights Marcellus & Upper Devonian(1) Contiguous acreage position that is only 11 mi. in length and 6 Two-Well Hamilton Pad Two-Well Burr Pad: mi. wide Upper Devonian…
  11. March 2016 Investor Presentation – Rex Energy Corp – slide 11
    Moraine East Area Completed drilling the first 16 wells in Moraine East 2015 HBO / HBP 2016 2017 HBO / HBP Completed 12 of the 16 wells by year end 2015 Average lateral length of first 16 wells 6,200 Provided initial test rates on…
  12. March 2016 Investor Presentation – Rex Energy Corp – slide 12
    Enhanced Marcellus Performance(2) Improving Well Design in Butler County 9.7 Bcfe EUR 11.7 Bcfe EUR 15.6 Bcfe EUR(1) 4.0 Bcfe 5.3 Bcfe 7.0 Bcfe (80% ethane recovery) (80% ethane recovery) (80% ethane recovery) EUR EUR EUR 8.9 Bcfe…
  13. March 2016 Investor Presentation – Rex Energy Corp – slide 13
    Current Cost Environment Marcellus Total Well Costs Efficiency Gains - Normalized to 5,000 lateral - Consistent drilling top drive time performance - Consistent completions stage performance - above 6 stages per day, per pad 7.00…
  14. March 2016 Investor Presentation – Rex Energy Corp – slide 14
    Marcellus Economics(1) 16,000 12 55% Ethane Recovery(2) 14,000 Moraine 10 YE2015 East Estimated 12,000 All-In Well Cost 4.8 million 5.3 million 8 Cum Gross Prod (Bcfe) 10,000 5,000 Gross Rate (Mcfe/d) Lateral Length…
  15. March 2016 Investor Presentation – Rex Energy Corp – slide 15
    Firm Transport and Processing Capacity Appalachian Basin Processing Capacity Butler Warrior Warrior Total Area North South Current Reserved Processing Capacity (Mcf/d) 180,000 25,000 20,000 225,000 Interruptible Processing Capacity…
  16. March 2016 Investor Presentation – Rex Energy Corp – slide 16
    Ohio Utica: Warrior Prospects Warrior North Prospect Recent Developments Three-Well Kiko Pad Brace 1H Lateral Length: Brace West 1H, 2H: Drilled and completed three-well Kiko pad Lateral Length: 4,170 feet Avg. Lateral Expected to be…
  17. March 2016 Investor Presentation – Rex Energy Corp – slide 17
    Warrior North Prospect Economics(1) Assumes 55% ethane recovery(2) 7,000 10 9 Base case 6,000 Upside Curve 2016 8 5,000 All-in Well Cost 7.1 million 7.2 million 7 6,500 6,700 Cum Gross Prod (Bcfe) Lateral Length…
  18. March 2016 Investor Presentation – Rex Energy Corp – slide 18
    Warrior South Prospect Economics(1) Assumes 55% ethane recovery(2) 3,000 1.2 Base case Upside 2,500 1 2016 Curve All-in Well Cost 7.6 million 7.6 million Cum Gross Prod (MMBOE) 2,000 0.8 Wellhead Rate (BOEPD) Lateral…
  19. March 2016 Investor Presentation – Rex Energy Corp – slide 19
    Appendix
  20. March 2016 Investor Presentation – Rex Energy Corp – slide 20
    Illinois Basin Conventional Oil Illinois Basin Lawrence Field / Gibson & Posey Counties Recent Developments Lawrence Net production from operated assets was 1,800 bbls/d Premium pricing NYMEX minus 2.50 Selling into local markets…
  21. March 2016 Investor Presentation – Rex Energy Corp – slide 21
    Marcellus Non Operated Overview Non Operated Westmoreland County, PA Non-Operated Overview Sizable acreage position in Westmoreland, Clearfield and Centre Counties, PA 25,400 gross / 10,200 net Combined average production for a…
  22. March 2016 Investor Presentation – Rex Energy Corp – slide 22
    Butler Operated Area Stacked Pays RHINESTREET SHALE Reservoir 4 Mixed Organic & Non-organic Shale 200 thick (4,500 to 4,800 deep) UPPER DEVONIAN SHALES MIDDLESEX SHALE Mixed Organic & Non-organic Shale GENESEE SHALE Mixed…

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