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February 28, 2013
08:50 EDTREXXRex Energy price target raised to $18 from $16 at RBC Capital
RBC Capital increased its price target on Rex after the company reported higher than expected Q4 CFPS. The firm thinks that the company is hitting its stride in Appalachia and it maintains an Outperform rating on the stock.
News For 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 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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