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June 2, 2014
06:06 EDTMWE, REXXMarkWest Energy announces commencement of Bluestone II
MarkWest Energy (MWE) announced the commencement of Bluestone II, a 120 million cubic feet per day cryogenic processing facility. The Bluestone II plant is part of the Partnership’s Keystone assets in Butler County, Pennsylvania and increases processing capacity for Marcellus producers operating in the rich-gas area of northwest Pennsylvania to 210 MMcf/d. Concurrently with the new processing plant, MarkWest has also completed 20,000 barrels per day of ethane and heavier fractionation capacity at the Bluestone facility, and a 32 mile purity ethane pipeline connecting to Mariner West. The Bluestone II plant primarily supports the expanding production of Rex Energy (REXX). Rex Energy now has 190 MMcf/d of dedicated processing capacity at MarkWest’s Keystone facilities, which also consist of 50 MMcf/d of capacity at the Bluestone I plant and 40 MMcf/d of capacity at the Sarsen facility. MarkWest continues to develop its rich-gas gathering system throughout Butler County and surrounding areas in order to support the continued growth of its processing facilities.
News For MWE;REXX From The Last 14 Days
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January 28, 2015
16:04 EDTREXXRex Energy names Thomas Rajan as new CFO
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January 27, 2015
16:09 EDTREXXRex Energy say 2014 proved reserves increased 57% to 1337 Bcfe
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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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