Replies to This Discussion

Permalink Reply by evan on December 22, 2014 at 2:32pm

She could sell insurance to a insurance company

Permalink Reply by David Allen Lilly on December 22, 2014 at 2:38pm

Evan, give her my phone number if you would please, I don't know how to friend request anyone.

Permalink Reply by evan on December 22, 2014 at 2:40pm

Ok David I will do that.

Permalink Reply by RO on December 30, 2014 at 1:48pm

Are you in Ohio? And who is the lawyer you are referring to? Think we may be needing one soon. Thanks

Permalink Reply by David Allen Lilly on December 22, 2014 at 2:37pm

I don't know how to friend request you, or anyone. But I do want to talk to you, Evan has my phone number, he can give it to you.

Permalink Reply by Philip Brutz on December 22, 2014 at 1:06pm

http://ir.rexenergycorp.com/releasedetail.cfm?ReleaseID=888739

December 22, 2014

Rex Energy Announces 2015 Capital Budget and Production Guidance and Provides a Financial Update

STATE COLLEGE, Pa., Dec. 22, 2014 (GLOBE NEWSWIRE) -- Rex Energy Corporation ("Rex Energy") (Nasdaq:REXX) today announced its 2015 capital budget and production guidance and provided a financial update.

2015 Capital Budget and Production Guidance

The company expects its 2015 operational capital expenditures to be between $180 million and $220 million, a decrease of approximately 44% from the midpoint of its 2014 capital expenditure guidance and a decrease of 43% from the midpoint of its previously announced preliminary 2015 capital expenditure plans. Despite this reduced level of capital expenditures, the company anticipates that its average daily production for 2015 will be between 196 MMcfe/d and 205 MMcfe/d. The company expects production growth of approximately 33% at the midpoint of 2015 average daily production guidance as compared to the midpoint of 2014 average daily production guidance. The expected significant production growth in 2015 is due to the company focusing on its highest quality assets and locations.

In addition, given the strong performance of its recent wells, the company continues to expect it will fully utilize its dedicated processing capacity at the Bluestone and Sarsen facilities near the end of the first quarter of 2015. The company expects the Bluestone III processing facility to be placed in service early in the fourth quarter of 2015.

Additional details regarding the company's capital expenditure budget for 2015 ($ in millions) are shown below:

 

	Appalachia Basin - Butler Operated Area	Appalachia Basin - Ohio Utica	Illinois Basin	Total
Total 2015 Capital Budget1	~$115 - $140	~$45 - $60	~$20	~$180 - $220

(1) Land acquisition expense and capitalized interest are not included in the operational capital expenditures budget

"Given the current commodity price environment, we feel that Rex Energy's 2015 capital budget allows the company to significantly grow production while also maintaining financial flexibility," said Tom Stabley, Rex Energy's Chief Executive Officer. "Our 2015 capital budget is designed to target our highest quality assets and we believe the continued production growth we anticipate in 2015, even at a reduced capital budget, continues to illustrate the quality of our asset portfolio and operational efficiency."

Financial Update

Rex Energy's bank group has unanimously approved an amendment to the company's senior secured credit facility. The approved amendment replaces the previous leverage covenant for the senior secured credit facility with a new leverage covenant limiting senior secured borrowings to 1.75 times the company's trailing twelve month EBITDAX. Given the company expects to exit 2014 with no borrowings outstanding under its senior secured credit facility, this change to the leverage covenant provides Rex with substantial financial flexibility.

"I would like to thank our bank group for their continued support of Rex Energy," said Tom Stabley, Chief Executive Officer of Rex Energy. "Given the current commodity price environment, we felt it was important to continue to be proactive in our efforts to enhance our financial flexibility."

In addition, Rex Energy has engaged RBC Capital Markets, LLC as a strategic advisor in order to pursue the monetization of its 60% ownership interest in Keystone Clearwater Solutions, the company's water service subsidiary. Assuming this transaction is completed as planned, the proceeds from the transaction would further enhance the company's strong liquidity position. The company expects to provide an update on the progress of the monetization in the first half of 2015.

Finally, the company has decided to continue its pursuit of a joint venture partner for its Moraine East development area in 2015. The company has recently begun drilling its first well in the Moraine East area, and expects to have initial production results early in the second quarter of 2015. The company's updated capital expenditure budget for 2015 assumes that the company retains its 100% ownership in the Moraine East area.

Permalink Reply by sherry on December 29, 2014 at 2:11am

Does anyone know where I can find a map showing where they are drilling a well near grape hollow rd? We are in the top half by putney, and all weekend the Windows were vibrating and you could feel it. But,we have got no division orders yet?  Just wondering where the leg is at?? Thanks

Permalink Reply by evan on December 29, 2014 at 2:47am

There is a well being drilled that may get to you. It's Eclipse and it's on the Scott farm. They have permits for north and south. I'll check it out later today

Permalink Reply by David Allen Lilly on December 29, 2014 at 3:05am

I would consider calling the proper authorities, someone at the state level, if your windows were vibrating and you could feel something going on.

I cannot think this is proper, I would be quite alarmed and would demand to know what the heck is going on.

This is becoming a tremendous burden to us out here, and I cannot wait to leave the area, which we will do by the Spring.

Permalink Reply by David Allen Lilly on December 29, 2014 at 3:26am

Sherry,

Any chance that the disturbances you experienced were from the facility down the road from you ?

Looking at the ODNR map there are no legs permitted coming your direction, although as with everything else in this entire experience the maps provided are very poorly timed and are of such little help to us.

Why show the legs like they do, what help could it possibly be to us to see the legs drawn like they are ?

Why not show the dang units the legs are drilling ?

It is baffling why the information is so minimal from the state.

I think the well Evan is referring to is accessed from Oxford road, if you go left on Putney from your road you can see the site on the right  before you get to Frankfurt.

Again, the legs are drilled so deep it seems un-likely that you would feel any disturbance from the drilling as you have described.

I strongly suspect your experience is the result of something done from the Eclipse facility down the road from you.

Lastly, I don't know of your experiences with the traffic speed but since I had my run ins with the workers and the worthless sheriff department it has gotten a little better here.

Permalink Reply by David Allen Lilly on December 29, 2014 at 3:33am

So I wondering, shouldn't the landowners in the McClain unit probably get together, form some sort of group so we are united in making sure that the processes and royalties are properly handled ?

The most glaring aspect of this entire experience is the absolutely horrendous treatment of the landowners, especially by a certain driller which we will become quite familiar with very soon.

Permalink Reply by evan on December 29, 2014 at 10:40am

David at this point we won't get royalties for years. Kinda like not marrying your high school sweetheart while your still in 6th grade. I'm trying to be patient

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