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Ohio Utica Shale

Rex Energy releases results from three-well Carroll County pad

By Bob Downing Published: April 8, 2014

From Rex Energy today:

 

STATE COLLEGE, Pa., April 8, 2014 (GLOBE NEWSWIRE) -- Rex Energy Corporation (Nasdaq:REXX) today announced 5-day sales rates from its three-well Ocel pad in the company's Warrior North Prospect.

The three-well Ocel pad, located in Carroll County, Ohio, was placed into sales from its resting period at an average five-day sales rate per well (excluding downtime) of 1,472 Boe/d (48% NGLs, 44% gas, 8% condensate) assuming full ethane recovery and an average natural gas shrink of 18%. The three wells produced with an average casing pressure of 1,560 psi during the five-day sales period on an average 26/64 inch choke. The three-well pad was drilled to an average total measured depth of approximately 12,700 feet with an average lateral length of approximately 4,400 feet and was completed with an average of 29 stages, utilizing the company's 150' "Super Frac" design. Based on composition analysis, the gas being produced averaged 1,282 BTU.

 

Three-Well Ocel Pad 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)
Ocel 1H 3,774 112 722 1,463 57% 1,058
Ocel 2H 3,911 121 663 1,436 55% 1,079
Ocel 3H 3,848 137 737 1,516 58% 1,105
Average 3,844 123 707 1,472 56% 1,081

"Our most recent results in the Warrior North Prospect further confirm the potential of our assets in Carroll County," commented Tom Stabley, Rex Energy's Chief Executive Officer. "With eight wells now into sales in the Warrior North Prospect and over 100 additional drilling locations, we have begun to demonstrate the value of our Warrior North Prospect."

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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