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Monday, May 15, 2017

Rex Energy Plans a Busy Year in Carroll County

From the Canton Repository:
Rex Energy will soon be busy in Carroll County, where it plans to drill 12 Utica Shale wells this year. 
The State College, Pa.-based company outlined its expanded drilling program during a conference call with investors Wednesday. 
Rex had planned to drill five wells in Carroll, but a new financing agreement will allow the company to accelerate its plans. 
That means drilling seven more wells in Carroll from the existing Jenkins and Goebeler pads, where Rex has seen strong production of condensate, a petroleum liquid that is lighter than oil but heavier than natural gas.
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