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INVESTOR PRESENTATION – Rex Energy Corp

Rex Energy Corp · Jan 20, 2015 · 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. INVESTOR PRESENTATION – Rex Energy Corp – slide 1
    Rex Energy Corporate Presentation January 2015
  2. 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: Strong cash…
  3. INVESTOR PRESENTATION – Rex Energy Corp – slide 3
    Track Record of Growth Average Daily Production 220.0 170.0 MMcfe/d 120.0 196 - 205 70.0 154.0 67.1 92.7 20.0 17.2 20.3 39.0 -30.0 2009 2010 2011 2012 2013 2014 2015E Proved Reserves 1200.0 1000.0 MMcfe 800.0…
  4. INVESTOR PRESENTATION – Rex Energy Corp – slide 4
    New Developments 220.0 Recent Achievements 2014 Proved Reserves Proved reserves increased 57% to 1.3 Tcfe PV-10 of 1.2 billion, increase of 80% over 2013 PV-10 Drill-bit F&D in Butler Operated Area of 0.41/mcfe 200.0 196.0…
  5. INVESTOR PRESENTATION – Rex Energy Corp – slide 5
    Company Overview
  6. INVESTOR PRESENTATION – Rex Energy Corp – slide 6
    Growing Production and Reserves Production Growth (MMcfe/d) 220 200 180 160 140 120 196.0 169.7 100 122.2 128.8 80 110.4 98.7 60 86.1 71.1 73.9 75.3 60.7 62.5 40 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14…
  7. INVESTOR PRESENTATION – Rex Energy Corp – slide 7
    Proved Reserves (1) Based on SEC pricing for the trailing twelve months ended 12/31/14 9
  8. INVESTOR PRESENTATION – Rex Energy Corp – slide 8
    Butler Operated Area Midstream Capacity 90 MMcf/d of current processing capacity at MarkWest facilities Map of Butler Area Midstream MarkWest added 120 MMcf/d of total Processing processing capacity in 2Q 2014 Capacity Increasing…
  9. INVESTOR PRESENTATION – Rex Energy Corp – slide 9
    Utica Midstream Providers Map of Utica Midstream Acreage dedication to Blue Racer Midstream Blue Racer East Ohio Pipeline REXX Warrior Processing capacity at Natrium North Acreage Warrior facility (Blue Racer) North 14 MMcf/d of…
  10. INVESTOR PRESENTATION – Rex Energy Corp – slide 10
    Non-Proven Resource Potential(1) Over 1,200 gross liquids-rich drilling locations as of December 31, 2013 based on 750 foot spacing in the Appalachian Basin assets(2) Gross Identified Net Identified Net Resource Area EUR(1)(3)(4) %…
  11. INVESTOR PRESENTATION – Rex Energy Corp – slide 11
    FY2015 Capital Budget Program / Guidance FY 2015 Capital Budget in Millions Appalachian Basin 160 - 200 Illinois Basin 20 Total 2015 Capital Budget 180 - 220(1) Budget Allocation FY2015 Budget Highlights 100% of 2015 budget…
  12. INVESTOR PRESENTATION – Rex Energy Corp – slide 12
    Liquidity and Capitalization 6/30/2014 9/30/2014 Simple Capital Structure Cash & Cash Equivalents 5,951 87,622 Senior Secured Credit Facility due 2019 Net Debt 546,954 590,194 400 million borrowing base completely undrawn Restrictive…
  13. INVESTOR PRESENTATION – Rex Energy Corp – slide 13
    Detailed Hedge Position(1) Natural Gas(2) Oil & Condensate(3) NGLS 2015 2015 2015 Swaps Volume (MMBtu/d) 59,589 Volume (Bbls/d) 82 Volume (Bbls/d) 1,986 % Hedged 47.5% % Hedged 2.5% % Hedged 37.3% Price (/MMBtu) 3.54 Price (/Bbl)…
  14. INVESTOR PRESENTATION – Rex Energy Corp – slide 14
    Expanded Butler Operated Area Shell Acreage Acquisition Butler Extension Area Net Acreage 207,000 Net Acreage 90,600 Net Revenue Interest 83% Wells PIS 4 Butler Liquids-Rich Net Acreage 50,000 Fleeger Pad Moraine East: 24,000 net…
  15. INVESTOR PRESENTATION – Rex Energy Corp – slide 15
    Legacy Butler Operated Area: Marcellus Legacy Butler Operated Area Marcellus(1) Recent Developments Three-Well Shipley Pad - Placed into sales 11 Marcellus wells during the first quarter of 2015 Two-Well Flinner Pad Avg. 30-day sales…
  16. INVESTOR PRESENTATION – Rex Energy Corp – slide 16
    Legacy Butler Operated Area: Upper Devonian Legacy Butler Operated Area Upper Devonian(1) Recent Developments Perry 1HD Burgh 2HD Placed into sales the five-well Ferree pad - second planned 5.3 MMcfe/d 4.5 MMcfe/d stacked Upper…
  17. INVESTOR PRESENTATION – Rex Energy Corp – slide 17
    Efficiently Increasing Marcellus EUR Ethane Ethane Improving Well Design in Butler County Uplift(1) Uplift(2) 9.7 Bcfe EUR 11.7 Bcfe EUR (80% ethane recovery) (80% ethane recovery) 4.0 Bcfe EUR 5.3 Bcfe EUR 7.0 Bcfe EUR 8.9 Bcfe EUR…
  18. INVESTOR PRESENTATION – Rex Energy Corp – slide 18
    Liquids-Rich Moraine East 50,000 net acres (24,000 inside development area) targeting wet-gas Marcellus and Upper Devonian contiguous to existing position Currently drilling first well in Moraine East, the Renick 5H Preliminary analysis…
  19. INVESTOR PRESENTATION – Rex Energy Corp – slide 19
    Marcellus Economics(1) 7,000 6.0 60.0% 80% Ethane Recovery(2) IRR Strip Pricing(4) 6,000 5.0 50.0% 5,000 IRR (%) 4.0 40.0% IRR Strip Production Rate (Mcfe/d) 4,000 Pricing(4) 3.0 30.0% 3,000 IRR Strip…
  20. INVESTOR PRESENTATION – Rex Energy Corp – slide 20
    Wet Gas Upside 4.00 22
  21. INVESTOR PRESENTATION – Rex Energy Corp – slide 21
    Natural Gas Supply & Demand in Northeast By Q3 2015, takeaway projects projected to be sufficient to support production growth in the Appalachian Basin Base Consumption Consumption Growth Appalachian Storage…
  22. INVESTOR PRESENTATION – Rex Energy Corp – slide 22
    Price Exposure & Firm Transport 24
  23. INVESTOR PRESENTATION – Rex Energy Corp – slide 23
    Butler Area Focus Drives Value Creation Expanding Processing Capacity Increasing total processing capacity to 405 MMcf/d through Bluestone III & Bluestone IV Bluestone III & Bluestone IV expected to be commissioned in 4Q15 and 2Q16…
  24. INVESTOR PRESENTATION – Rex Energy Corp – slide 24
    Ohio Utica: Warrior Prospects Warrior North Prospect Recent Developments Brace West 1H, 2H: Brace 1H Lateral Length: Avg. Lateral Placed into sales the six-well J. Hall pad in Warrior South 4,170 feet Length: 4,400 feet 24-hour…
  25. INVESTOR PRESENTATION – Rex Energy Corp – slide 25
    Warrior North Prospect Economics(1) Assumes 55% ethane recovery 55% 1,400 0.6 Jenkins wells performing above green line 50% 1,200 45% 0.5 Production Rate (Boe/d) 40% 1,000 IRR Strip 0.4 Pricing(2) Cumulative…
  26. INVESTOR PRESENTATION – Rex Energy Corp – slide 26
    Warrior South Prospect Economics(1) Assumes 55% ethane recovery 80% 2,500 1.1 IRR Strip Pricing 70% 1.0 0.9 60% 2,000 0.8 IRR (%) 50% IRR Strip Cumulative Production (MMboe) 0.7 Pricing 40% 1,500 Production…
  27. INVESTOR PRESENTATION – Rex Energy Corp – slide 27
    Illinois Basin Conventional Oil Illinois Basin Lawrence Field / Gibson & Posey Counties Recent Developments Lawrence Gross production per day across whole field: 2,800 bbls/d Premium pricing NYMEX minus 2.50 Selling into local…
  28. INVESTOR PRESENTATION – Rex Energy Corp – slide 28
    Marcellus Non Operated Overview Non Operated Westmoreland County, PA Non-Operated Overview Sizable acreage position in Westmoreland, Clearfield and Centre Counties, PA 28,300 gross / 11,000 net Combined average production for a…
  29. INVESTOR PRESENTATION – Rex Energy Corp – slide 29
    Appendix
  30. INVESTOR PRESENTATION – Rex Energy Corp – slide 30
    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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