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Monday, December 9, 2013

Rex Energy Finding Good Results in Utica Shale

From NGI:
Rex Energy Corp. on Friday reported favorable results for five wells in the Warrior South prospect, an area of Ohio in the Utica Shale, and provided an update on four wells it placed into sales in Western Pennsylvania. 
The J. Anderson multi-well pad in Guernsey County, OH, was recently placed into sales after its resting period at an average five-day sales rate of 1,886 Boe/d. Combined, the five wells at the pad produced 40% natural gas liquids, 40% gas and 20% condensate, assuming full ethane recovery and an average natural gas shrink of 12%, the company said in an operational update. 
Rex holds 24 drilling permits in Ohio, 19 of which are in the heart of the Utica Shale play in Carroll County, where it also has five producing wells. Gordon Douthat, an energy analyst at Wells Fargo Securities, said results from the Anderson wells stacked up favorably against results from three others in the Warrior South that the company reported on in July. Those wells produced 1,731 Boe/d on shorter laterals with an average length of 3,535 feet (see Shale Daily,July 10). Douthat called Friday's update a positive one.
Read the entire article here. 

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