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October 2016 Corporate Presentation – Rex Energy Corp

Rex Energy Corp · Oct 10, 2016 · 25 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. October 2016 Corporate Presentation – Rex Energy Corp – slide 1
    Rex Energy Corporate Presentation October 2016
  2. October 2016 Corporate Presentation – Rex Energy Corp – slide 2
    Rex Energy Company Overview Focused on developing liquids-rich acreage in the Appalachian Basin Targeting wet-gas windows in the Pennsylvania Marcellus and Ohio Utica Shales Appalachian Basin Net Acreage(1) 130,500 Proved…
  3. October 2016 Corporate Presentation – Rex Energy Corp – slide 3
    FY2016 Operational Capital Expenditures Gross Op. Capex Reimbursements(1) Net Op. Capex 1Q16 30.6 31.8 (1.2) 2Q16 42.2 11.6 30.7 3Q16 28.6 29.1 (0.5) 4Q16 37.0 30.4 6.6 FY 2016 138.4 102.9 35.5 FY2016 Operational Capital…
  4. October 2016 Corporate Presentation – Rex Energy Corp – slide 4
    Balance Sheet Initiatives Senior Secured Credit Facility due 2019 190 million borrowing base capacity reaffirmed on October 3, 2016 Covenant Net Senior Secured Borrowings / TTM EBITDAX 3.0x; excludes firm letters of credit Exchanged…
  5. October 2016 Corporate Presentation – Rex Energy Corp – slide 5
    Company Overview
  6. October 2016 Corporate 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. October 2016 Corporate 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. October 2016 Corporate 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. October 2016 Corporate 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. October 2016 Corporate 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. October 2016 Corporate Presentation – Rex Energy Corp – slide 11
    Moraine East Area HBO / HBP Completed 2017 HBO / HBP Completed first 16 wells in Moraine East Completed and placed into sales 12 of the 16 wells Average lateral length of first 16 wells 6,200 High pressure system commissioned in…
  12. October 2016 Corporate 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. October 2016 Corporate 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. October 2016 Corporate Presentation – Rex Energy Corp – slide 14
    Marcellus Economics(1) 8,000 10.0 55% Ethane Recovery(2) 9.0 7,000 Moraine YE2015 East 8.0 Estimated 6,000 7.0 All-In Well Cost 4.8 million 5.0 million Cum Gross Prod (Bcfe) 5,000 6.0 Lateral Length 5,000 6,000 Gas Rate…
  15. October 2016 Corporate Presentation – Rex Energy Corp – slide 15
    Marcellus Economics(1)(2) 70% 60% 50% BFIT IRR (%) 40% 30% 20% 10% 0% 2.00 2.50 3.00 3.50 4.00 4.50 5.00 Henry Hub Gas Price (/MMBtu) 5MM D&C 5.3MM D&C 5.5MM D&C (1) Economics reflect 6,000…
  16. October 2016 Corporate Presentation – Rex Energy Corp – slide 16
    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…
  17. October 2016 Corporate Presentation – Rex Energy Corp – slide 17
    Ohio Utica: Warrior North Warrior North Prospect Recent Developments Two-Well Perry Pad Three-Well Goebeler Three-Well Kiko Pad Placed into sales three-well Goebeler pad Avg. Lateral Length: 6,350 feet Avg. Lateral Length: Lateral…
  18. October 2016 Corporate Presentation – Rex Energy Corp – slide 18
    Warrior North Wells Results Longer laterals and enhanced completion design driving increased production rates Longest average lateral lengths and highest sand concentrations utilized during completion 1,800 1,600 Kiko Pad…
  19. October 2016 Corporate Presentation – Rex Energy Corp – slide 19
    Warrior North Prospect Economics(1) 1,600 1.4 Assumes 55% ethane recovery(2) 1,400 1.2 Base case Upside Curve 2016 1,200 1.0 All-in Well Cost 7.1 million 7.2 million Cum Gross Prod (MMBOE) 1,000 6,500 6,700 Gas Rate…
  20. October 2016 Corporate Presentation – Rex Energy Corp – slide 20
    Warrior North Prospect Economics(1)(2) 60% 50% 40% IRR (%) 30% 20% 10% 0% 2.00 2.50 3.00 3.50 4.00 4.50 5.00 Henry Hub Gas Price (/MMBtu) 7.1MM D&C 7.4MM D&C 7.8MM D&C (1) Economics reflect 6,500…
  21. October 2016 Corporate Presentation – Rex Energy Corp – slide 21
    Future Catalysts Expect 10 wells to be placed into sales in the fourth quarter of 2016 December 2016 production exit rate estimated to grow 7% or 13.4 MMcfe/d vs. December 2015 production exit rate High percentage of acreage to be…
  22. October 2016 Corporate Presentation – Rex Energy Corp – slide 22
    Appendix
  23. October 2016 Corporate Presentation – Rex Energy Corp – slide 23
    Ohio Utica: Warrior South Warrior South Prospect Highlights Placed into sales six-well J. Hall pad Guernsey 5-day sales rate of 1.8 Mboe/d 64% liquids Five-Well J. Six-Well J. Hall Pad Anderson Pad Avg. Lateral Length: Avg. Lateral…
  24. October 2016 Corporate Presentation – Rex Energy Corp – slide 24
    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…
  25. October 2016 Corporate Presentation – Rex Energy Corp – slide 25
    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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