Moraine

Rex Energy Corp. said this week that a four-well pad it recently placed to sales in western Pennsylvania produced the highest condensate rates it’s recorded in the region.

Rex Energy Corp. on Tuesday released a two-year financial and operational plan, highlighting a clearer strategy to grow within cash flow as it looks beyond the squeeze it has faced during the downturn.

Rex Energy Corp. said Monday it would begin moving half of its natural gas production in Western Pennsylvania to premium markets on the Gulf Coast and in the Midwest in November.

Rex Energy Corp. is pushing ahead on its recently acquired Moraine East area in Western Pennsylvania’s northern Butler County, announcing Tuesday that it has completed 20 Marcellus and Upper Devonian shale wells there since it started drilling operations last year (see Shale Daily,June 11, 2015).

In an ongoing effort to better monetize its assets and generate more cash flow for this year’s drilling program, Rex Energy Corp. said late Thursday it has secured another joint venture (JV) with a private investment firm that could net it up to $175 million and reduce this year’s budget.

Rex Energy Corp. on Tuesday said it would reduce capital expenditures by another 30% this year after it announced a joint venture (JV) agreement with private equity firm ArcLight Capital Partners LLC to help fund the development of its key assets in western Pennsylvania.

Rex Energy Corp. exited 2014 producing 154.4 MMcfe/d, a 66% increase from the previous year that exceeded the high end of its guidance and came with gains in its core areas of western Pennsylvania and southeast Ohio, the company said Tuesday.