REX Not renewing
Received an email that REX who bought Shell leases is not renewing in Beaver County. Has anyone else been contacted?
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Replies to This Discussion
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Permalink Reply by 0ym9x5ag7ury2 on
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I've seen a few REX Royalty Statements, you don't want them producing your wells.
Let's elect Trump and apply State and Federal Laws to these "Out Of Towner's" who are stealing our well products by under paying royalties. I don't want to hear those of you who think you are being paid fairly, you don't have a clue.
It's time we apply the laws to everyone in our society, even if they are Domestic Oil & Gas pirates with a long history of taking what they want from landowners.
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Permalink Reply by Paul Butler on -
Don't panic.
Someone else will be along.
In Houston, Beaver County is considered an attractive area that many people/companies have high hopes and big plans for.
From what I know, Beaver County will be subject to a full blown land rush again.
People/companies are trying to get money together to re-enter the area right now.
Money is tight and no one is getting large scale exploration projects papered up/financed right now--but they will.
Rex stock is trading at 60 cents and they keep losing large sums of money.
You got to figure the jig is just about up for REX.
Bad news on the doorstep, I couldn't take one more step...
Rex Energy loses 54 million dollars in 2q 2016.
LOSS FROM OPERATIONS
(35,882
)
(138,733
)
(68,357
)
(158,661
)
OTHER EXPENSE
Interest Expense
(11,439
)
(12,181
)
(24,469
)
(24,193
)
Gain (Loss) on Derivatives, Net
(29,169
)
(281
)
(25,120
)
16,838
Other Income
12
61
12
92
Debt Exchange Expense
(533
)
--
(9,014
)
--
Gain on Extinguishment of Debt
23,707
--
23,707
--
Loss on Equity Method Investments
--
(208
)
--
(411
)
TOTAL OTHER EXPENSE
(17,422
)
(12,609
)
(34,884
)
(7,674
)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX
(53,304
)
(151,342
)
(103,241
)
(166,33
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Permalink Reply by Jon on
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I noticed the last few presentations that the acreage in Butler county has been going down. I figure Shell obviously had a reason for buying in Butler and Lawrence, so someone else will probably want it too when more leases expire. Who knows what Rex will do, but I'm betting that in another year or two there will be another fight for it. When I leased my land, several companies had made offers. It will probably be the same thing again.
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