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Corporate Presentation – Rex Energy Corp

Rex Energy Corp · Jan 17, 2017 · 27 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 Presentation – Rex Energy Corp – slide 1
    CORPORATE PRESENTATION January 2017
  2. Corporate Presentation – Rex Energy Corp – slide 2
    Company Overview Rex Energy is a pure-play Appalachian Basin focused company targeting wet- gas windows in the Pennsylvania Marcellus and Ohio Utica Shales Appalachian Basin Key Statistics Net Acreage(1) 130,500 Market…
  3. Corporate Presentation – Rex Energy Corp – slide 3
    TWO-YEAR OUTLOOK
  4. Corporate Presentation – Rex Energy Corp – slide 4
    Recent Accomplishments Recent Accomplishments Sale of Illinois Basin asset for net proceeds of 40.0 million with Assets Sales potential for an incremental 10.0 million through 2020 Sale of Warrior South Area for net proceeds of 30.0…
  5. Corporate Presentation – Rex Energy Corp – slide 5
    Management Objectives Through 2018 Two-Year Targets One rig development program focused on the Butler Operated Two-year compounded annual production growth and Warrior North areas, drilling 21.0 gross (11.1 net) wells in rate of…
  6. Corporate Presentation – Rex Energy Corp – slide 6
    2017 / 2018 Plan Highlights 2017 2018 Full-year production growth(1): 5.0% - 10.0% Full-year production growth: 15.0% - 20.0% Exit rate production growth(1): 15.0% - 20.0% Two-year production CAGR: 10.0% - 15.0% 80% of net…
  7. Corporate Presentation – Rex Energy Corp – slide 7
    2017 2018 Forecast(1) 2016 2017 2018 Natural Gas (MMcf/d) 115.0 120.0 125.0 125.0 130.0 NGLs (MBbls/d) 5.1 5.8 6.2 6.3 6.7 Ethane (MBbls/d) 5.8 5.9 6.2 9.4 9.6 Condensate (MBbls/d) 0.9 0.7 0.8 0.7 0.9 Total Production (MMcfe/d)(2)…
  8. Corporate Presentation – Rex Energy Corp – slide 8
    Strategic Outlook Strategic Outlook Two-year organic production CAGR of 10.0% - 15.0% from proven undrilled locations in Marcellus and Upper Devonian formations in Pennsylvania and Utica in Ohio Development capital funded through…
  9. Corporate Presentation – Rex Energy Corp – slide 9
    Hedge Position(1) 100% 90% 80% Avg. Floor: 3.02 70% Avg. Avg. Avg. Floor: Floor: Avg. Floor: 24.04 Floor 50.05 Avg. 10.47 (0.82) Floor 60% (0.86) 50% 40% Avg. Floor: Avg. 53.00 Floor: 27.27 Avg. 30% Floor:…
  10. Corporate Presentation – Rex Energy Corp – slide 10
    Rex Energy Corporate Presentation COMPANY OVERVIEW
  11. Corporate Presentation – Rex Energy Corp – slide 11
    Midstream Capacity Butler Operated Area 285 MMcf/d of total current processing capacity at MarkWest facilities Processing Capacity Pipeline connects Moraine East production to MarkWest facilities 390 MMcf/d of current and future firm…
  12. Corporate Presentation – Rex Energy Corp – slide 12
    Natural Gas Price Enhancements 2016 Dom South Deducts vs. 2017 Gulf Coast Deducts 2016 2017 0.00 (0.10) (0.20) (0.40) (0.70) (1.09) (0.60) (0.80) (1.00) (0.16) (1.20) (1.40) Basis FT + Marketing Costs 13
  13. Corporate Presentation – Rex Energy Corp – slide 13
    Natural Gas Differentials Natural Gas Takeaway Natural Gas Differentials 2016 2017 Gulf Coast transportation began on November 1, 0.00 2016, allowing access to premium Midwest and Gulf (0.10) Coast markets (0.20) (0.30) (0.95)…
  14. Corporate Presentation – Rex Energy Corp – slide 14
    Legacy Butler Operated Area Legacy Butler Operated Area(1) Total Acreage Two-Well Burr Pad: Total Gross / Net Acres 83,560/60,100 Two-Well Hamilton Pad Upper Devonian Lateral length: 5,200 Lateral length: 4,700 Sand Concentration:…
  15. Corporate Presentation – Rex Energy Corp – slide 15
    Moraine East Area Moraine East Area Total Acreage Total Gross / Net Acres 40,000/40,000 Baird Pad Average Working Interest 84% Fleeger II Pad Potential Drilling Locations(1)(2) Gross/Net Identified Locations 454/371 Current Well…
  16. Corporate Presentation – Rex Energy Corp – slide 16
    Moraine East Area Recent Developments Three Marcellus wells & one Burkett well Average 24-hour sales rate for three Marcellus wells of 10.4 Mmcfe/d - Natural gas: 4.3 Mmcfe/d; NGLs: 851 bbls/d; Condensate: 154 bbls/d Placed…
  17. Corporate Presentation – Rex Energy Corp – slide 17
    Enhanced Performance(1) Rex Energy has been successful in improving the well design in its Butler Op. Area 5.3 Bcfe 7.0 Bcfe 9.7 Bcfe EUR 11.7 Bcfe EUR 15.6 Bcfe EUR (80% ethane) (80% ethane) (80% ethane)(2) EUR EUR 8.9 Bcfe EUR…
  18. Corporate Presentation – Rex Energy Corp – slide 18
    Cost Environment Rex Energy has successfully reduced the cost to drill and complete a 6,000 lateral by 23% over the last 18 months All-In Well Cost 7.0 6.5 Efficiency Gains: consistent completion stage performance six stages per day…
  19. Corporate Presentation – Rex Energy Corp – slide 19
    Marcellus Economics(1) Marcellus Economics (55% Ethane Recovery)(2) YE 2015 Moraine East Estimated 8,000 7.0 All-In Well Cost 4.8 5.0 (MM) 7,000 6.0 Lateral Length 5,000 6,000 6,000 5.0 EUR (Bcfe) Cum Gross Production…
  20. Corporate Presentation – Rex Energy Corp – slide 20
    Marcellus Economics(1)(2) Well Cost Reductions Improving Marcellus IRRs 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…
  21. Corporate Presentation – Rex Energy Corp – slide 21
    Warrior North Area Warrior North Area Total Acreage Total Gross / Net Acres 20,200 / 16,100 Three-well Goebeler Pad Three-well Kiko Pad Average Working Interest 95% Potential Drilling Locations Two-well Perry Pad Gross/Net…
  22. Corporate Presentation – Rex Energy Corp – slide 22
    Warrior North Area Economics(1) Marcellus Economics (55% Ethane Recovery)(2) Base Case 2016 Upside Curve 1,600 1.0 All-In Well Cost 7.1 7.2 (MM) 0.9 1,400 0.8 Lateral Length 6,500 6,700 1,200 0.7 EUR (MMboe) 1.5 2.0 Cum…
  23. Corporate Presentation – Rex Energy Corp – slide 23
    Warrior North Area Economics(1)(2) Well Cost Reductions Improving Warrior North IRRs 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…
  24. Corporate Presentation – Rex Energy Corp – slide 24
    Warrior North Well 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…
  25. Corporate Presentation – Rex Energy Corp – slide 25
    Rex Energy Corporate Presentation APPENDIX
  26. Corporate Presentation – Rex Energy Corp – slide 26
    Non-Operated Appalachia 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 recent…
  27. Corporate Presentation – Rex Energy Corp – slide 27
    Butler Operated Area Stacked Pays RHINESTREET SHALE Reservoir 4 Mixed Organic & 200 thick Non-organic Shale (4,500 to 4,800 deep) UPPER DEVONIAN SHALES MIDDLESEX SHALE Mixed Organic & Non-organic Shale GENESEE SHALE Mixed…

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