Replies to This Discussion

Permalink Reply by Trapper on May 9, 2015 at 3:22pm

I'll start the ball rolling.
What land man company do they use for pipeline row?

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Permalink Reply by Philip Thackray on May 10, 2015 at 12:43am

Trapper,

Rex mid-stream is all done by MarkWest.  The one time I dealt with MarkWest I was approached by MarkWest people not Land men.

Phil

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Permalink Reply by Trapper on May 10, 2015 at 12:58am

Thank you Philip.

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Permalink Reply by Philip Thackray on May 10, 2015 at 1:19am

Matthew,

My neighbor/friend gives me his Rex statements for a small piece of property he owns in the Rex Lamperski Unit in Butler County Forward Township.  When I get to a scanner next week, I will post a sample.  They are very confusing as there are rolling calculations.  The previous months statements are revised in the present month based on newer sales information I think.  I meant to try to figure them out as I am now in the Rex Brownsdale West Unit.  Once I start getting checks, I'll put some effort in to understanding the statements.

Another neighbor LewPa who is in the Rex Stebbins unit says that he has deciphered the statements, perhaps he will chime in here.

Of course, right now prices are in the tank and deductions are very high.

Phil

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Permalink Reply by LewPa on May 10, 2015 at 11:53am

Phil,

What makes them so confusing is they put price adjustments from previous months in parentheses for each type of product. All the different products are priced separately. You really have to sit and study it for a while to see what they're doing and it usually only a few bucks either way. Any questions on your statement are readily answered by the people at Rex. If you don't catch them when you call, they will call you back within a few hours. Since the new year they have their statements on line thru JIB, easy website, can see all your statements at once. Mine is set up direct deposit and they are two months behind which I think is pretty standard. LewPa 

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Permalink Reply by Philip Brutz on May 10, 2015 at 1:26am

It looks like REX is interested in sell their leaseholds in Guernsey, Noble and Belmont counties, OH

http://files.shareholder.com/downloads/REXX/119271164x0x826669/b310...

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Permalink Reply by Philip Thackray on May 10, 2015 at 2:20am

Philip,

I think the boys at Rex are wishing they were in some other business altogether.  I remember during a few dark days in my own business my business partner would imagine us doing something different stating the hilarious double entendre "we should get into panty hose"!!

I imagine that there is some similar "gallows humor" in a certain board room in State College, PA these days.

Phil

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Permalink Reply by Joseph-Ohio on May 10, 2015 at 2:45am

Looks to me like they're all 'in it to flip it' (to a greater or lesser degree).

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Permalink Reply by LewPa on May 10, 2015 at 4:38am

JO,

As far as Rex flipping, my take is Rex is in it for the long term, whether that ends up good or bad, time will tell. Rex has sold a percentage of each of it's leases to private patners (mostly from Japan) to finance some of it's drilling. So a buy out would be very complicated to any other OG Co, but I guess their partners could buy out the whole company. I think they're just trying to tread water until the price of gas rebounds. LewPa

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Permalink Reply by Joseph-Ohio on May 10, 2015 at 4:41am

Luck to all of us.

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Permalink Reply by Trapper on May 10, 2015 at 5:59am

From what I have gathered,I believe you are right LewPa. They appear to be on the up & up and sincerely in the business to produce.

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Permalink Reply by Joseph-Ohio on May 10, 2015 at 6:17am

Yet interested in JV's.

Why not ?

Just so long as they all honor the terms of your leasehold agreements - where's the harm ?

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