Seeking Alpha

Rexx Energy +5.5% after strong Q4, full-year production results

  • Rexx Energy (REXX +5.5%) gains after saying Q4 production reached a record 110.4M cfe/day, up 12% Q/Q and 49% Y/Y, and total 2013 production grew by ~38%.
  • The six-well Baillie Trust pad in the Butler operated area was placed into sales at an average five-day sales rate per well of nearly 6M cfe/day from four vertically offset stacked laterals, and the five-well J. Anderson pad in the Warrior South Prospect produced at an average last five-day sales rate of 1,852 boe/day per well.
  • Sees 2014 production of 143M-149M cfe/day.
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