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Ohio Utica Shale

Rex Energy offers look at data from Warrior South wells in Ohio

By Bob Downing Published: July 9, 2013

From Rex Energy:

 

 

STATE COLLEGE, Pa., July 9, 2013 (GLOBE NEWSWIRE) -- Rex Energy Corporation (Nasdaq:REXX) today announced 5-day sales rates from its first three Warrior South Prospect wells in the Ohio Utica.

The Noble 1H, located in Noble County, Ohio, was placed into sales from its resting period at a five-day sales rate (excluding downtime) of 1,783 Boe/d (43% NGLs, 44% gas, 13% condensate), assuming full ethane recovery and a natural gas shrink of 20%. The well produced with an average casing pressure of 2,635 psi during the five-day sales period on a 20/64 inch choke. The well was drilled to a total measure depth of approximately 11,740 feet with a lateral length of approximately 3,378 feet and was completed in 21 stages. Based on composition analysis, the gas being produced is approximately 1,231 BTU.

The Guernsey 2H, located in Noble County, Ohio, was placed into sales from its resting period at a five-day sales rate (excluding downtime) of 1,764 Boe/d (44% NGLs, 42% gas, 14% condensate), assuming full ethane recovery and a natural gas shrink of 20%. The well produced with an average casing pressure of 2,451 psi during the five-day sales period on a 20/64 inch choke. The well was drilled to a total measured depth of 12,097 feet with a lateral length of approximately 3,640 feet and was completed in 23 stages. Based on composition analysis, the gas being produced is approximately 1,265 BTU.

The Guernsey 1H, located in Noble County, Ohio, was placed into sales from its resting period at a five-day sales rate (excluding downtime) of 1,646 Boe/d (44% NGLs, 42% gas, 14% condensate), assuming full ethane recovery and a natural gas shrink of 20%. The well produced with an average casing pressure of 2,582 psi during the five-day sales period on a 20/64 inch choke. The well was drilled to a total measured depth of 11,963 feet with a lateral length of approximately 3,587 feet and was completed in 23 stages. Based on composition analysis, the gas being produced is approximately 1,265 BTU.

 

Warrior South Well Results — 5-Day Sales Rates
  Natural
Gas
(Mcf/d)
Condensate
(Bbls/d)
NGLs
(Bbls/d)
Total (Full
Ethane
Recovery)
(Boe/d)
Percentage of
Liquids (Full
Ethane
Recovery)
Total (Ethane
Rejection
Mode)
(Boe/d)
Noble 1H 4,694 238 763 1,783 56% 1,329
Guernsey 2H 4,450 247 775 1,764 58% 1,335
Guernsey 1H 4,159 228 724 1,646 58% 1,245

Tom Stabley, Rex Energy's Chief Executive Officer commented, "The strong initial sales rates of our first three Warrior South wells demonstrate the prospects for Rex's approximately 7,000 gross acres. Given these impressive initial sales rates, we expect the Warrior South Prospect to have a meaningful impact on Rex's current and future production growth."

The company is currently drilling the fifth well of the five-well J. Anderson pad in the Warrior South Prospect. The five wells on the J. Anderson pad are expected to be drilled with an average lateral length of approximately 4,250 feet and to be placed into sales in late 2013. Following completion of drilling operations, the rig will move back to the Warrior North Prospect for the remainder of 2013.

Second Quarter Earnings Release and Conference Call

Rex Energy plans to release its second quarter 2013 operational and financial results on Tuesday, August 6, 2013 after market close. Management will host a live conference call and webcast on Wednesday, August 7, 2013 at 10 a.m. ET to review second quarter results and operational highlights. Reference materials for the conference call and webcast will be posted to the company's website prior to the call. All financial results included in the second quarter earnings release and discussed on the conference call and webcast will remain subject to our independent auditor's review. The telephone number to access the conference call is (866) 437-1772. The conference call will be available for replay through the company's website at www.rexenergy.com under the Investor Relations tab. The replay of the event and reference materials will be available on the company's website through September 7, 2013.

 

About Rex Energy Corporation

Rex Energy is headquartered in State College, Pennsylvania and 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.

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