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November 2017 Corporate Presentation – Rex Energy Corp

Rex Energy Corp · Nov 29, 2017 · 29 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. November 2017 Corporate Presentation – Rex Energy Corp – slide 1
    CORPORATE PRESENTATION November 2017
  2. November 2017 Corporate Presentation – Rex Energy Corp – slide 2
    Cautionary Statements Forward Looking Statements Statements in this presentation that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of…
  3. November 2017 Corporate Presentation – Rex Energy Corp – slide 3
    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) 112,500 Butler Operated…
  4. November 2017 Corporate Presentation – Rex Energy Corp – slide 4
    Rex Energy Milestones Financial and Operational Milestones Beginning January 1, 2018, BP Energy Company will purchase the majority of C3+ product stream with favorable pricing to actual and projected 2017 prices BP Energy Company…
  5. November 2017 Corporate Presentation – Rex Energy Corp – slide 5
    Future Liquidity Milestones Current Initiatives/Future Milestones Western Lawrence Assets Future non-core asset sales Westmoreland/Clearfield Assets Opportunity for further enhancements to liquids pricing Marketing Initiatives…
  6. November 2017 Corporate Presentation – Rex Energy Corp – slide 6
    Operational Focus Moraine East Area 24-hour sales rate per well of 9.2 Mmcfe/d Six-well Shields pad 30-day sales rate per well of 7.9 Mmcfe/d In-line with economic projections for 2017 Moraine East program Drilled to an average…
  7. November 2017 Corporate Presentation – Rex Energy Corp – slide 7
    Capital Efficient Production Growth 300.0 300.0 274.0 Average Daily Production (Mmcfe/d) 250.0 250.0 196.6 200.0 200.0 Net Operational Capex (MM) 170.3 150.0 135.0 150.0 115.0 130.0 100.0 100.0 65.0 - 80.0 50.0…
  8. November 2017 Corporate Presentation – Rex Energy Corp – slide 8
    Utilizing Existing Pads to Maximize Efficiency Utilizing existing pads and increased well density saves approximately 1.0 million per pad Infrastructure already in place Land/title work already complete Rex has over 75 existing…
  9. November 2017 Corporate Presentation – Rex Energy Corp – slide 9
    Rex Energy Corporate Presentation COMPANY OVERVIEW
  10. November 2017 Corporate Presentation – Rex Energy Corp – slide 10
    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…
  11. November 2017 Corporate Presentation – Rex Energy Corp – slide 11
    Natural Gas Differentials Natural Gas Takeaway Natural Gas Differentials 2016 2017 2018 Gulf Coast transportation began on November 1, 0.00 2016, allowing access to premium Midwest and Gulf (0.10) Coast markets (0.20) (0.35) (0.35)…
  12. November 2017 Corporate Presentation – Rex Energy Corp – slide 12
    Legacy Butler Operated Area Legacy Butler Operated Area(1) Total Acreage Two-Well Burr Pad: Total Gross / Net Acres 62,000/43,400 Two-Well Hamilton Pad Upper Devonian Lateral length: 5,200 Lateral length: 4,700 Sand Concentration:…
  13. November 2017 Corporate Presentation – Rex Energy Corp – slide 13
    Moraine East Area Moraine East Area Total Acreage Total Gross / Net Acres 36,000/30,600 Manuel Pad Average Working Interest 85% Fleeger II Pad Baird Pad Potential Drilling Locations(1)(2) Gross/Net Identified Locations 375/304…
  14. November 2017 Corporate Presentation – Rex Energy Corp – slide 14
    Moraine East Area Recent Developments 24-hour sales rate per well of 9.2 Mmcfe/d Six-well Shields pad 30-day sales rate per well of 7.9 Mmcfe/d In-line with economic projections for 2017 Moraine East program Drilled to an average…
  15. November 2017 Corporate Presentation – Rex Energy Corp – slide 15
    Enhanced Performance(1) Rex Energy has been successful in improving the well design in its Butler Op. Area 9.7 Bcfe EUR 11.7 Bcfe EUR 15.6 Bcfe EUR 5.3 Bcfe 7.0 Bcfe (80% ethane) (80% ethane) (80% ethane)(2) EUR EUR 8.9 Bcfe EUR…
  16. November 2017 Corporate Presentation – Rex Energy Corp – slide 16
    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…
  17. November 2017 Corporate Presentation – Rex Energy Corp – slide 17
    Marcellus Economics(1) Marcellus Economics (55% Ethane Recovery)(2) Butler Legacy Moraine East Moraine East 8,000 10 YE2016 Estimated 2017 Program 9 All-in Well Cost 4.8 million 5.0 million 5.5 million 7,000 Lateral Length 5,000…
  18. November 2017 Corporate Presentation – Rex Energy Corp – slide 18
    Moraine East Economics(1,2,3) Before Tax IRR 55.00 / bbls Before Tax IRR 3.00 / Mmbtu 60% 60% 50% 50% 40% 40% IRR, % IRR, % 30% 30% 32% 32% 20% 26% 20% 26% 10% 10% 0% 0% 2.00 2.50 3.00 3.50 4.00 40.00 45.00…
  19. November 2017 Corporate Presentation – Rex Energy Corp – slide 19
    Warrior North Area Warrior North Area Total Acreage Total Gross / Net Acres 13,700/12,400 Seven-well Goebeler Pad Three-well Kiko Pad Average Working Interest 95% Potential Drilling Locations Two-well Perry Pad Gross/Net Identified…
  20. November 2017 Corporate Presentation – Rex Energy Corp – slide 20
    Warrior North Economics(1) 2,000 1,200 YE15SEC YE16SEC Upside Case 55% Ethane Recovery(2) Curve Curve 2017 1,800 1,000 All-in Well Cost 5.5 million 6.2 million 6.2 million 1,600 Lateral Length 5,000 ft 6,500 ft 6,500 ft 1,400…
  21. November 2017 Corporate Presentation – Rex Energy Corp – slide 21
    Warrior North Economics(1,2,3) Before Tax IRR 55.00 / bbls Before Tax IRR 3.00 / Mmbtu 100% 100% 90% 90% 80% 80% 70% 70% 59% 59% 60% 60% IRR, % IRR, % 50% 47% 50% 47% 40% 40% 32% 30% 30% 32% 20% 20% 10% 10% 0% 0%…
  22. November 2017 Corporate Presentation – Rex Energy Corp – slide 22
    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…
  23. November 2017 Corporate Presentation – Rex Energy Corp – slide 23
    Rex Energy Corporate Presentation APPENDIX
  24. November 2017 Corporate Presentation – Rex Energy Corp – slide 24
    Hedge Position(1) Natural Gas Natural Gas Hedge Position (Mcf) 2017 2018 Swap Contracts Volume 4,040,000 15,335,000 Price 3.10 3.10 Collar Contracts with Short Puts Volumes 4,550,000 10,600,000 Ceiling 3.86 3.52 Floor 2.98 2.90…
  25. November 2017 Corporate Presentation – Rex Energy Corp – slide 25
    Hedge Position(1) Natural Gas Liquids NGL Hedge Position (Bbls) 2017 2018 Propane (C3) Swap Contracts Volume (Bbls) 243,000 630,000 Price 23.30 25.62 Butane (C4) Swap Contracts Volume 60,000 186,000 Price 28.54 32.94 Isobutane…
  26. November 2017 Corporate Presentation – Rex Energy Corp – slide 26
    Hedge Position(1) Condensate Condensate Hedge Position (Bbls) 2017 2018 Swap Contracts Volume (Bbls) 15,000 60,000 Price 54.00 54.00 Collar Contracts Volumes - 18,000 Ceiling - 60.00 Floor - 53.00 Collar Contracts with Short…
  27. November 2017 Corporate Presentation – Rex Energy Corp – slide 27
    Hedge Position(1) Natural Gas Basis Differentials Natural Gas Basis Differential (Mcf) 2017 2018 Dominion Appalachia Swap Contracts Volume (Bbls) 4,919,000 18,980,000 Price (0.79) (0.81) Texas Gas Zone I Volume 3,680,000 14,600,000…
  28. November 2017 Corporate Presentation – Rex Energy Corp – slide 28
    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…
  29. November 2017 Corporate Presentation – Rex Energy Corp – slide 29
    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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