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Corporate Presentation – Rex Energy Corp

Rex Energy Corp · Feb 19, 2015 · 29 slides

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Slides

  1. Corporate Presentation – Rex Energy Corp – slide 1
    Rex Energy Corporate Presentation February 2015
  2. Corporate 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. Corporate 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 Bcfe 800.0…
  4. Corporate 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. Corporate Presentation – Rex Energy Corp – slide 5
    Company Overview
  6. Corporate Presentation – Rex Energy Corp – slide 6
    Growing Production and Reserves Production Growth (MMcfe/d) 220 200 180 160 MMcfe/d 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…
  7. Corporate Presentation – Rex Energy Corp – slide 7
    Proved Reserves (1) Based on SEC pricing for the trailing twelve months ended 12/31/14 9
  8. Corporate 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. Corporate 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. Corporate Presentation – Rex Energy Corp – slide 10
    Proven & Non-Proven Resource Potential(1) Over 1,500 gross liquids-rich drilling locations as of December 31, 2014 based on 650 foot spacing in the Appalachian Basin assets(2) Gross Identified Net Identified Net Resource Area…
  11. Corporate 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. Corporate Presentation – Rex Energy Corp – slide 12
    Liquidity and Capitalization 9/30/2014 12/31/2014 Simple Capital Structure Cash & Cash Equivalents 87,622 17,978 Senior Secured Credit Facility due 2019 Net Debt 590,194 659,998 400 million borrowing base completely undrawn Covenant…
  13. Corporate Presentation – Rex Energy Corp – slide 13
    Detailed Hedge Position(1) Natural Gas(2) Oil & Condensate(3) NGLS 2015 2015 2015 Swaps Volume (MMBtu/d) 65,793 Volume (Bbls/d) 75 Volume (Bbls/d) 2,205 % Hedged 52.3% % Hedged 2.3% % Hedged 45.2% Price (/MMBtu) 3.77 Price (/Bbl)…
  14. Corporate Presentation – Rex Energy Corp – slide 14
    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…
  15. Corporate Presentation – Rex Energy Corp – slide 15
    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…
  16. Corporate Presentation – Rex Energy Corp – slide 16
    Enhanced Marcellus Performance Improving Well Design in Butler County 9.7 Bcfe EUR 11.7 Bcfe EUR 15.0 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…
  17. Corporate Presentation – Rex Energy Corp – slide 17
    Moraine East Area Currently drilling third of four wells on the Renick pad Three Marcellus wells and one Upper Devonian Burkett well Laterals averaging in excess of 6,000 feet Renick Pad Preliminary log and petrophysical data…
  18. Corporate Presentation – Rex Energy Corp – slide 18
    Marcellus Economics(1) 9,000 9 55% Ethane Recovery(2) YE2014 2015 Target 8,000 8 All-in Well Cost 5.7 million 5.5 million 7,000 7 Lateral Length 5,000 feet 5,000 feet 6,000 6 EUR, Bcfe, 80% & 55% C2 11.7 10.7 15.0 14.0 Gross…
  19. Corporate Presentation – Rex Energy Corp – slide 19
    Wet Gas Upside 4.00 21
  20. Corporate Presentation – Rex Energy Corp – slide 20
    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…
  21. Corporate Presentation – Rex Energy Corp – slide 21
    Price Exposure & Firm Transport 23
  22. Corporate Presentation – Rex Energy Corp – slide 22
    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…
  23. Corporate Presentation – Rex Energy Corp – slide 23
    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 5-day sales…
  24. Corporate Presentation – Rex Energy Corp – slide 24
    Warrior North Prospect Economics(1) Assumes 55% ethane recovery 2,000 1 YE14 Type Curve 1,800 0.9 All-in Well Cost 6.8 million 1,600 0.8 1,400 0.7 Lateral Length 5,000 feet 1,200 0.6 EUR 1.2 MMBOE Wellhead Rate…
  25. Corporate Presentation – Rex Energy Corp – slide 25
    Warrior South Prospect Economics(1) Assumes 55% ethane recovery 3,000 1 YE2014 0.9 2,500 All-in Well Cost 8.0 million 0.8 Lateral Length 5,000 feet 0.7 2,000 EUR 1.6 MMBOE 0.6 Wellhead Rate (BOEPD) Cum Prod (MMBOE)…
  26. Corporate Presentation – Rex Energy Corp – slide 26
    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…
  27. Corporate Presentation – Rex Energy Corp – slide 27
    Marcellus Non Operated Overview Non Operated Westmoreland County, PA Non-Operated Overview Sizable acreage position in Westmoreland, Clearfield and Centre Counties, PA 28,500 gross / 11,300 net Combined average production for a…
  28. Corporate Presentation – Rex Energy Corp – slide 28
    Appendix
  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…

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