From Rex Energy today:
STATE COLLEGE, Pa., June 2, 2014 (GLOBE NEWSWIRE) -- Rex Energy Corporation (Nasdaq:REXX) today announced that it has begun flowing gas into MarkWest Energy Partners, LP (NYSE:MWE) ("MarkWest") Bluestone II processing facility.
Rex Energy began flowing gas into the Bluestone II facility on May 19, 2014. Once fully commissioned, the expanded facility will add an incremental 120 MMcf/d of processing capacity in the Butler Operated Area (of which 100 MMcf/d will be dedicated to Rex Energy). When combined with the 90 MMcf/d of processing capacity already available at the Sarsen and Bluestone I processing facilities, Rex Energy will have approximately 190 MMcf/d of dedicated processing capacity to support its Butler Operated Area development plans. Of the 11 wells that were previously completed and awaiting processing capacity, the company has placed 5 wells into sales and expects to place 5 more into sales this week. The company expects to place the one remaining well into sales by the end of the second quarter. In addition, Rex Energy expects its first ethane sales of approximately 2,000 bbls/d to occur in early June 2014, with an incremental 3,000 bbls/d of ethane sales to begin on or around July 1, 2014. The company expects to update its previously announced production guidance in the upcoming weeks as additional information regarding the plant commissioning process becomes available.
"We would like to thank our partners at MarkWest for their hard work and diligent efforts to bring the Bluestone II processing facility online," said Tom Stabley, Chief Executive Officer of Rex Energy. "We are pleased that we've begun delivering gas to the Bluestone II facility and, once fully commissioned, the increased processing capacity will support our development plans and help us to maximize the potential of our Butler Operated Area assets."
About Rex Energy Corporation
Rex Energy, headquartered in State College, Pennsylvania, is an independent oil and gas exploration and production company operating in the Appalachian and Illinois Basins within the United States. The company's strategy is to pursue its higher potential exploration drilling prospects while acquiring oil and natural gas properties complementary to its portfolio.