Michael Filloon
Oil & gas, energy, hedge fund manager, commodities

Bakken Update: Rex Energy's Q2 Beat Is Just The Beginning Of A Lucrative 2013

Rex Energy (NASDAQ:REXX) is one of the better performing oil and gas names in 2013. Q2 was good as Rex beat on the bottom line and had a slight miss on top. Rex reported an EPS of $0.14 per share versus the Street's $0.13. It reported revenues of $55.35 million. This was a miss of $1.1 million. In Q2, it produced a record production of oil and NGLs. In the Utica, it placed the Brace West (2 well pad) on production of 72% liquids. Both the Warrior South and North prospects have seen good results in Q2. Its first Illinois Basin horizontal produced a peak IP of 367 Bo/d. Rex also completed its first super rich Devonian well,...

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