Rex Energy Posts 3rd Quarter Loss Despite Increased Production

From The Canton Repository:
Rex Energy lost $97.1 million during the third quarter even as its oil and natural gas production grew. 
Rex is based in State College, Pennsylvania. The company has drilled 34 wells in Ohio’s Utica Shale. 
The company’s loss works out to $1.80 per basic share, according to a press release. Rex officials will discuss the company’s quarterly results during a conference call Tuesday. 
Rex produced 194.3 million cubic feet equivalent of natural gas per day during the quarter, an increase of 15 percent over the same period last year. 
The production mix consisted of 116.6 million cubic feet per day of natural gas and 12,900 barrels of oil equivalent per day of liquids. Oil, condensate and natural-gas liquids accounted for 40 percent of production during the quarter.
Read more about Rex Energy's third quarter by clicking here.

Connect with us on Facebook and Twitter!

Popular posts from this blog

Fracktivist in Dimock Releases Carefully Edited Video, Refuses to Release the Rest

The Second Largest Oil and Gas Merger - Cabot and Cimarex

Is a Strong Oil Demand Expected This Year?