Rex Update July 8, 2015

Rex Update

http://ir.rexenergycorp.com/releasedetail.cfm?ReleaseID=921085

The Harvey wells in Butler County, PA were drilled from the Stebbins pad next to Gumto Greenhouse.  One well is in the Brownsdale West unit and the other is in the Allison unit.  Both wells are Marcellus.  The original Stebbins well drilled from this pad was an Upper Devonian (Burkett) well that has had good performance given its short length.

Phil

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Mike MurphyPermalink Reply by Mike Murphy on July 13, 2015 at 11:36am

and they still have the Utica to drill there TRIPLE PLAY

Permalink Reply by Philip Thackray on July 13, 2015 at 11:52am

Mike,

The XTO Patton 1H in neighboring Connoquenessing Township is the closest Utica well to the Stebbins pad.  During the well's first 129 days of operation in 2014 the well averaged 6 million cubic feet per day.  By April of 2015 the daily average was down to 3 million cubic feet per day.  That is pretty steep decline and even at $4 gas I doubt that the well is economic given the cost to go down 10,000 feet to the formation.  And here the Utica is dry.

One day that will make sense but I think that day is 10-15 years in the future.

However, the Burkett seems as real as the Marcellus although I doubt that anything in this area is economic with current prices.

Phil

Mike MurphyPermalink Reply by Mike Murphy on July 13, 2015 at 12:43pm

new drilling and completion technology is getting better every day so it coukd be a lot sooner of course depending on the price of gas t oo   but we know reserve is there for many years to come

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