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Rex Energy announces 57% expected production growth in 2014


Published Jan 16, 2014
Rex Energy Corporation-2

Rex Energy Corporation announced its fourth quarter 2013 and full year 2013 production results and price realizations, provided an operational update, and issued its initial 2014 capital expenditure budget and guidance.

Production Results and Price Realizations

Fourth quarter 2013 production volumes were 110.4 MMcfe/d, an increase of 12% over the third quarter of 2013 and 49% over the fourth quarter of 2012, consisting of 76.4 MMcf/d of natural gas and 5.7 Mboe/d of oil and NGLs. Oil and NGLs accounted for 31% of net production during the fourth quarter and increased by 7% over the third quarter of 2013. For full year 2013, production volumes increased by 38% over 2012 to 92.7 MMcfe/d, consisting of 64.2 MMcf/d of natural gas and 4.8 Mboe/d of oil and NGLs. Oil and NGLs increased by 59% over 2012 and accounted for 31% of net production during 2013. Both the company's fourth quarter 2013 and full year 2013 average daily production volumes exceeded the midpoint of company's previously announced fourth quarter 2013 and full year 2013 production guidance.

Tags: Rex Energy Corporation




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