First Choice Energy

Tuesday, August 7, 2012

Rex Energy Reports Second-Quarter Results

Rex Energy reported their 2012 second-quarter results today.  You can view the entire release by clicking here.

This is an excerpt which is relevant to the Ohio Utica Shale play:
Appalachian Basin -- Warrior Prospect, Carroll County, Ohio
Rex Energy completed the drilling of its first Ohio Utica well, the Brace #1H, located in Carroll County in May 2012, reaching a total measured depth of 12,332 feet with a lateral length of approximately 4,170 feet. Fracture stimulation was completed in June 2012 with 17 stages. The well has been shut-in since completion to allow for the dissipation of frac water before flowing the well back. The company anticipates first sales in September 2012 and expects to provide an update during the third quarter conference call.
Warrior South Prospect -- Guernsey, Noble & Belmont Counties, Ohio
The company spud the first of three wells in the Warrior South Prospect, the Guernsey #1H, in July 2012 and expects to complete drilling of all three wells in the third quarter of 2012. Fracture stimulation for one of the wells is currently scheduled for the fourth quarter of this year. Rex Energy is working with midstream providers to secure wet gas transportation and processing capacity to support its Warrior South development.

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