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February 15, 2013
08:04 EDTREXX, MWEMarkWest Utica EMG, Rex Energy in deal to develop Utica midstream infrastructure
MarkWest Utica EMG, a joint venture between MarkWest Energy Partners (MWE) and The Energy and Minerals Group, announced definitive agreements with Rex Energy (REXX) to provide gathering, processing, fractionation, and marketing services in the Utica Shale. In Rex Energy’s Warrior South Prospect, the company holds approximately 4,100 net acres. To date, the company drilled and completed three wells in the Warrior South Prospect. These wells have been shut-in since their completion and will be placed into sales once the related infrastructure is in place. In 2013, Rex Energy plans to drill and complete four additional wells and place into service seven wells in the Warrior South Prospect. MarkWest Utica EMG expects to begin gathering and processing Rex's liquid-rich gas production in approximately June of this year. To support Rex and other Utica producers, MarkWest Utica EMG is constructing an extensive gathering system, two large- scale processing complexes and a C2+ fractionation and marketing complex by early 2014. When completed, MarkWest Utica EMG and MarkWest will have the largest processing and fractionation capacity in the Utica Shale, it said.
News For MWE;REXX From The Last 14 Days
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January 22, 2015
05:05 EDTMWEMarkWest Energy raises quarterly distribution by 4c to 90c per unit
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January 20, 2015
07:20 EDTREXXRex Energy provided update on company's Appalachian Basin operations
Rex Energy provided an operational update on the company's Appalachian Basin operations. Highlights include: in the Moraine East Area, the company has completed drilling its first well, the Renick 5H. Preliminary analysis of the well data indicates that the Moraine East Area's reservoir and geological characteristics are similar to the legacy Butler Operated Area. In the legacy Butler Operated Area, the company will place into sales 11 Marcellus wells during the first quarter of 2015. The 11 wells were drilled to an average lateral length of 4,900 feet and were completed on 150 foot spacing with over 2,250 pounds per linear foot of sand concentration. In addition, the company has reduced its cost to drill and complete wells by approximately 5% to $5.7M per well, assuming a 5,000 foot lateral, as compared to the previously reported $6.0M per well. The decrease is attributable to operational efficiencies and improved pricing from service providers as they continue to adjust costs down based on the current commodity environment. By continuing to focus on service costs and operational efficiencies, the company expects to achieve an additional 3% - 5% of cost reductions by mid-year 2015. The six-well J. Hall pad, located in Guernsey County, Ohio, was placed into sales at an average 24-hour sales rate per well of 2,365 boe/d assuming full ethane recovery and an average natural gas shrink of 18%.
07:18 EDTREXXRex Energy reports FY14 production up 66% from FY13
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January 12, 2015
13:28 EDTMWEMarkWest Energy volatility near six-year high
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10:00 EDTMWE, REXXOn The Fly: Analyst Downgrade Summary
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08:59 EDTREXXRex Energy downgraded to Equal Weight from Overweight at Stephens
Stephens downgraded Rex Energy to Equal Weight and lowered its price target on the stock to $4 from $14 citing the drop in oil and gas prices.
06:31 EDTMWEMarkWest Energy downgraded to Neutral from Buy at Goldman
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05:45 EDTMWEMarkWest Energy downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded MarkWest Energy to Neutral saying its reduced commodity price expectations no longer support an accelerating distribution growth profile for the company. The firm dropped its price target for shares to $64 from $78.

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