Rex Energy sees Q1 production at midpoint of 190MMcfe/d–196 MMcfe/d Rex Energy is providing an update for its Q1 production, full year 2015 production and operating capital expenditure guidance, which takes into account the new joint venture agreement in the Butler Operated Area. The company expects Q1 production volumes to be at the midpoint of its previously announced guidance of 190MMcfe/d–196 MMcfe/d. FY production volumes are expected to range from 185MMcfe/d–195MMcfe/d, representing a 23% increase at the midpoint of guidance as compared to 2014 production volumes. In addition, the company expects 2015 operating capital expenditures to be in the range of $135M–$145M, a 30% decrease at the midpoint of the updated 2015 operating capital expenditure guidance as compared to the midpoint of the previous operating capital expenditure program of $180M–$220M.
Rex Energy approves amendment to senior secured credit facility Rex Energy's bank group has unanimously approved an amendment to the company's senior secured credit facility. The approved amendment includes a new senior secured debt to EBITDAX covenant of 3.0x and permanently removes the total debt to trailing twelve months EBITDAX covenant. In addition, as part of the semi-annual borrowing base redetermination, the banks have unanimously approved a $350M borrowing base.