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Corporate Presentation – Rex Energy Corp

Rex Energy Corp · Jul 1, 2014 · 30 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
    Rex Energy Corporate Presentation July 2014
  2. Corporate Presentation – Rex Energy Corp – slide 2
    Asset Overview Focused on developing our 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: Conventional infill…
  3. Corporate Presentation – Rex Energy Corp – slide 3
    Rex Energy Overview Operations Overview Acreage(1) 163,100 Net Acres 2013 Proved Reserves 849.8 Bcfe (39% Liquids) 2014E Production Growth 143.0 149.0 MMcfe/d 1Q 2014 Production 122.2 MMcfe/d 2014E Capex 350 - 365 million 2014E…
  4. Corporate Presentation – Rex Energy Corp – slide 4
    New Developments 160.0 Recent Achievements Record Quarterly Production Exceeded high-end of guidance range 143.0 149.0 11% growth in production 9% increase in daily liquids production 30% liquids mix 140.0 Continued Creation of…
  5. Corporate Presentation – Rex Energy Corp – slide 5
    Track Record of Growth Average Daily Production 100.0 80.0 MMcfe/d 60.0 92.7 40.0 67.1 20.0 39.0 17.2 20.3 0.0 2009 2010 2011 2012 2013 Proved Reserves 800.0 600.0 MMcfe 400.0 849.8 618.1 200.0 366.2 125.2…
  6. Corporate Presentation – Rex Energy Corp – slide 6
    Firm Transportation Butler, PA Texas Gas Transmission Louisiana Access Project Lebanon, OH Receipt Point: Lebanon, OH Delivery Points: Gulf South-Bosco Perryville, LA Pipelines Accessed: DTI, TETCO, REX Dominion Transmission…
  7. Corporate Presentation – Rex Energy Corp – slide 7
    Butler Operated Area Midstream Capacity 90 MMcf/d of current processing Map of Butler Area Midstream capacity at MarkWest facilities Processing Added 120 MMcf/d of Capacity processing capacity in 2Q 2014 at MarkWest facilities…
  8. Corporate Presentation – Rex Energy Corp – slide 8
    Utica Midstream Providers Map of Utica Midstream Acreage dedication to Blue Blue Racer East Racer Midstream Ohio Pipeline REXX Warrior Warrior Processing capacity at Natrium North Acreage North facility (Blue Racer) 14 MMcf/d…
  9. Corporate Presentation – Rex Energy Corp – slide 9
    Growing Production and Reserves Production Growth (MMcfe/d) 160 149.0 140 120 100 143.0 122.2 128.0 80 110.4 98.7 86.1 60 71.1 73.9 75.3 60.7 62.5 40 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14E 2014E Actual…
  10. Corporate Presentation – Rex Energy Corp – slide 10
    Non-Proven Resource Potential(1) Over 1,000 gross potential proved and non-proven drilling locations(2) in the liquids-rich Appalachian Basin properties(3) Butler Operated Area Ohio Utica Warrior Prospects Upper Marcellus Warrior…
  11. Corporate Presentation – Rex Energy Corp – slide 11
    FY2014 Capital Budget Program / Guidance FY 2014 Capital Budget in Millions Appalachian Basin Drilling & Completion 300 - 310 Appalachian Basin Facilities, HSE & Equipment 10 Illinois Basin Drilling & Completion 30 - 35 Illinois…
  12. Corporate Presentation – Rex Energy Corp – slide 12
    Price Realizations Natural Gas Price Realizations Average Natural Gas Prices 1.00 8.00+ 6.00 Price Differentials to NYMEX 5.00 0.50 4.00 3.00 - 2.00 1.00 (0.50) - 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 TETCO M3…
  13. Corporate Presentation – Rex Energy Corp – slide 13
    Wet Gas Upside 4.00 15
  14. Corporate Presentation – Rex Energy Corp – slide 14
    Butler Price Realization Comparisons 6.00 5.00 / Mcfe 5.00 4.75 / Mcfe 4.25 / Mcfe 50 / bbl 56 / bbl 4.00 Value Per Mcfe 56 / bbl 3.00 4.50 NYMEX 4.50 NYMEX 2.00 3.90/ Mcf 3.80 / Mcf 3.10 / Mcf 1.00 (0.60)…
  15. Corporate Presentation – Rex Energy Corp – slide 15
    Detailed Hedge Position(1) Natural Gas(2) Oil & Condensate(3) NGLS 2014 2015 2014 2015 2014 2015 Swaps Volume (MMBtu/d) 28,370 9,863 Volume (Bbls/d) 1,033 82 Volume (Bbls/d) 2,348 -- % Hedged 30% 10% % Hedged 34% 3% % Hedged 61%…
  16. Corporate Presentation – Rex Energy Corp – slide 16
    Marcellus: Liquids-Rich Butler Operated Area Butler Operated Area - Marcellus Recent Developments Commissioned Bluestone II processing facility in Mid-May 2014 Three-Well Shipley Added100 MMcf/d of processing capacity dedicated to…
  17. Corporate Presentation – Rex Energy Corp – slide 17
    Upper Devonian: Liquids-Rich Butler Operated Area Butler Operated Area Upper Devonian Recent Developments Perry 1HD Burgh 2HD Drilling five-well Ferree pad - second planned stacked Upper 5.3 MMcfe/d 4.5 MMcfe/d Devonian…
  18. Corporate Presentation – Rex Energy Corp – slide 18
    Butler Operated Area Dry Gas Utica Butler Operated Area Dry Gas Utica Recent Developments Rex Energy has drilled two Butler Operated Area dry-gas Cheeseman 1H Utica wells 5.3 MMcfe/d 30-Day Cheeseman 1H completed and placed into…
  19. Corporate Presentation – Rex Energy Corp – slide 19
    Efficiently Increasing Marcellus EUR(1) Ethane Ethane Improving Well Design in Butler County Uplift(3) Uplift(4) 9.7 Bcfe EUR 9.7 Bcfe EUR (80% ethane recovery) (80% ethane recovery) 4.0 Bcfe EUR 5.3 Bcfe EUR 7.0 Bcfe EUR 8.9 Bcfe…
  20. Corporate Presentation – Rex Energy Corp – slide 20
    Operational Efficiencies Butler Op. Area Butler Operated Area Average Lateral Length 2013 2014 2013 Avg. Lateral Length: 4,000 ft. 13 14 2014 Avg. Lateral Length: 5,100 ft. 11 12 9 9 Number of Wells 8 10 8 6 6 4 1 1 0 1…
  21. Corporate Presentation – Rex Energy Corp – slide 21
    Marcellus Economics(1) 9.7 Bcfe EUR: 80% Ethane Recovery(2) 50% 6,000 5.0 45% IRR Strip 4.5 Pricing(4) 40% 5,000 4.0 IRR (%) 35% 3.5 IRR Strip 4,000 Pricing(3) 30% Production Rate (Mcfe/d) 3.0 25% 3,000 2.5…
  22. Corporate Presentation – Rex Energy Corp – slide 22
    Ohio Utica: Warrior Prospects Warrior North Prospect Recent Developments Brace 1H Brace West 1H, 2H Completed six-well Grunder pad in Warrior North Expected to be placed into sales in 2Q14 G. Graham 1H Ocel 1H, 2H, 3H Tested 500 &…
  23. Corporate Presentation – Rex Energy Corp – slide 23
    Warrior North Prospect Economics(1) Assumes 55% ethane recovery 55% 1,400 0.6 IRR Strip Cumulative Production (MMboe) 1,200 0.5 Pricing(2) 50% 1,000 Production Rate (Boe/d) 0.4 800 45% 0.3 IRR Strip 600 Pricing(2)…
  24. Corporate Presentation – Rex Energy Corp – slide 24
    Warrior South Prospect Economics(1) Assumes 55% ethane recovery 2,500 1.1 1.0 80% Cumulative Production (MMboe) 2,000 0.9 0.8 IRR Strip 0.7 70% Pricing 1,500 Production Rate (Boe/d) 0.6 0.5 1,000 0.4 60% 0.3 500…
  25. Corporate Presentation – Rex Energy Corp – slide 25
    Illinois Basin Conventional Oil Illinois Basin Lawrence Field / Gibson & Posey Counties Recent Developments Lawrence Gross production per day across whole field: 2,772 bbls/d Premium pricing NYMEX minus 2.50 Selling into local…
  26. Corporate Presentation – Rex Energy Corp – slide 26
    Marcellus Non Operated Overview Non Operated Westmoreland County, PA Non-Operated Overview Sizable acreage position in Westmoreland, Clearfield and Centre Counties, PA 32,700 gross / 12,900 net(1) Combined average production for a…
  27. Corporate Presentation – Rex Energy Corp – slide 27
    Key Operational Highlights 163,100 liquids-rich net acres in Appalachian and Illinois Basin Catalyst-Rich Pro forma proved reserves of 849.8 Bcfe at YE2013 represents a 67% CAGR Marcellus & Identified inventory in the Marcellus with…
  28. Corporate Presentation – Rex Energy Corp – slide 28
    Appendix July 2014
  29. Corporate Presentation – Rex Energy Corp – slide 29
    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…
  30. Corporate Presentation – Rex Energy Corp – slide 30
    Baillie Trust Pad Stacked Laterals 750 spacing 100 50 175 600 spacing 600 spacing Tested both Marcellus and Upper Devonian Burkett through use of stacked laterals Stacked Laterals Utilizing microseismic testing to…

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