Rex Energy Showing More Promise in Noble County

Rex Energy announced the results from their first three wells located in the Warrior Prospect South project and those results  are promising for the company and the continued development of the Utica Shale.  All three wells were developed on the same pad in Noble County right on the Guernsey/Noble County line near Quaker City.  The three wells used Rex Energy’s “Super Frac” technology, using 150 foot hydraulic fracture intervals.

The first well Rex Energy flowed back was the Guernsey 2H.  The well’s lateral length is 3,640 feet and it was completed in 23 stages.  During initial 24 hour flow rate test, the well produced 8 million cubic feet of natural gas per day (mcf), while also producing 564 barrels of condensate and an additional 1,200 barrels of natural gas liquids per day after processing.  The gas tested at 1,207 BTU’s.   Assuming full ethane recovery, the Guernsey 2 H tested at 3,111 barrels of oil equivalent a day with a composition of 39% natural gas liquids, 43% natural gas and 18% condensate.

Rex Energy’s second well tested was the Guernsey 1H.  The well was developed with a 3,587 foot lateral and was completed in 23 stages.  During the initial 24 hour flow rate test, it produced 7.6 mcf a day while also producing 549 barrels of condensate and an additional 1,152 barrels of natural gas liquids a day after processing.  The gas tested at 1,216 BTU’s.  Assuming full ethane recovery and a natural gas shrink of 20%, the Guernsey 1H tested at 2,968 barrels of oil equivalent a day also with a composition of 39% natural gas liquids, 43% gas and 18% condensate.

The third and final well Rex Energy tested was the Noble 1H.  The Noble 1H has the shortest lateral of the three with a length of 3,378 feet. It was completed in 21 stages.  During the initial 24 hour flow rate test, the well produced 8 mcf a day while also producing 392 barrels of condensate and an additional 1,212 barrels of natural gas liquids a day after processing.  The gas also tested at 1,216 BTU’s.  Assuming full ethane recovery and a natural gas shrink of 20%, the Noble 1H tested at 2,938 barrels of oil equivalent a day also with a composition of 39% natural gas liquids, 43% gas and 18% condensate.

These three wells look very promising for Rex Energy and the other companies operating in the region.  Following the announcement of the results, Rex Energy shared their excitement:

We are very excited about the test results of our first three Warrior South wells

–Tom Stabley, Rex Energy’s Chief Executive Officer

Rex Energy follows CONSOL, Gulfport, PDC and Antero’s results showing the great potential in the southern region of the Utica/Point Pleasant development region.

We believe our test results, combined with other reported industry results, demonstrate the opportunity for superior well performance in this region

–Tom Stabley, Rex Energy’s Chief Executive Officer

The wells are currently shut in awaiting pipeline infrastructure which should be available in June.  In the meantime, Rex Energy is currently developing a new pad about 2 miles north where they plan to develop five more wells during the second and third quarter of 2013.

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