Rex Energy CorporationNASDAQ
Rexx Energy: Worth Considering At Current Levels
Disruptive Investor • 23 Comments
Disruptive Investor • 23 Comments
Thu, Sep. 29, 3:05 PM
- Bonanza Creek Energy (BCEI -4.7%) and Rex Energy (REXX +8%) are upgraded (I, II) to Hold from Sell with respective $0.52 and $1 price targets at Stifel, which has an improved oil price outlook following yesterday's OPEC production agreement.
- While a formal OPEC agreement that meaningfully reduces supply and record global inventories is far from concrete, a change in Saudi policy - whether perceived or real - and positive commentary from leading OPEC officials appear to be building an oil price floor of $40.
Thu, Aug. 25, 10:51 AM
- Natural gas production from the Marcellus and Utica shales remains surprisingly strong and defying predictions that output would fall, averaging 22.63B cf/day so far in August, up 2% from last month and the most since February’s all-time high of 22.78B cf/day.
- Even though the number of drilling rigs has declined, new production per rig now averages ~11.4M cf of gas in the Marcellus, up 18% Y/Y, as producers have managed to maintain volumes by tapping inventories of drilled but uncompleted wells and burrowing deeper, longer wells that yield more gas.
- Production has been strong despite regional prices at ~$1.2757/MMBtu, less than half the price for benchmark gas in Louisiana.
- Top Marcellus/Utica producers include EQT, RRC, RICE, CVX, CNX, VTG, REXX, XOM, NBL, COG, CHK.
Tue, Aug. 2, 4:15 PM
Mon, Aug. 1, 5:35 PM
- ACLS, AFG, AGII, AIG, AMED, AMSG, AR, ARC, AVD, BEAT, BECN, BGFV, BPI, BRKR, CALD, CALX, CAR, CENT, CERN, CHEF, CHUY, CLI, CLUB, CRAY, CSU, CXO, CZR, DEI, DVN, DXCM, EA, ELGX, ENLK, ENPH, ESE, ESIO, EXAM, FANG, FARO, FGL, FISV, FIT, FMC, FMI, FNGN, FORM, FTAI, FTV, FUEL, GHDX, GLUU, GNW, GUID, HBI, HCI, HIW, HRZN, INN, JIVE, KAR, KFRC, LOCK, LQ, MATX, MDU, MOD, MRC, MRCY, MXWL, NBR, NEWR, NFX, NOVT, NPO, NYMT, OCLR, OESX, OHI, OKE, OKS, OMI, ORA, PAA, PAGP, PAYC, PBPB, PLT, PRMW, PRO, PZZA, QRVO, QUOT, REXX, RGR, RIGL, RLOC, RPAI, RPXC, RUBI, SF, SGY, SLCA, SM, STAG, SUPN, SYRG, TMH, TNAV, TPC, TRQ, TRUP, TSRA, TX, VNOM, VRSK, VTAE, WMGI, WR, WTR, XXIA, Y, ZAGG, ZEN
Tue, Jun. 21, 9:19 AM
- Rex Energy (NASDAQ:REXX) +6.5% premarket after saying it received an additional capital commitment from joint development partner Benefit Street Partners for the Moraine East joint development program.
- BSP’s election raises the total capital commitment to date by BSP from to $98.1M from $51.6M and BSP’s total well participation in Moraine East to 30 wells.
- Rex says the additional capital commitment, combined with the recent Illinois Basin sale, will provide more than $80M of additional liquidity in 2016, which will enable it to continue to hold the majority of its Appalachian Basin acreage by production by mid-year 2017.
- Rex now expects FY 2016 net operational capex of ~$35.5M.
Tue, Jun. 14, 4:43 PM
- Rex Energy (NASDAQ:REXX) +7.2% AH after agreeing to sell its Illinois Basin assets to Campbell Development for ~$40M, with the potential for up to another $10M over three years based on commodity prices.
- The sale includes 76K net acres in Illinois, Indiana and Kentucky, with current production of ~1,700 net bbl/day.
- Rex says it plans to use the proceeds to pay down its revolving line of credit and for general corporate purposes, and expects to maintain its current $190M borrowing base.
Tue, May 10, 4:09 PM
Mon, May 9, 5:35 PM
- AG, ALB, ALRM, AMBC, AMRS, ATSG, BUFF, CALL, CGIX, CHMI, CJES, CSLT, CYTX, DGLY, DIS, DXPE, EA, ECPG, ENSG, ESIO, EVRI, EXAM, FF, FIVN, FNGN, FOGO, FOR, FOSL, FTEK, FUEL, GALE, HCKT, HLIT, HLTH, ICUI, IPAR, JAZZ, JIVE, KEYW, KGC, LDRH, MTSC, NEWR, NUAN, PLNT, PSEC, PVCT, QNST, QTM, RBCN, RELY, REXX, RMTI, RTK, SCSC, TDOC, VTAE, XON, XONE, ZAGG, ZFGN, ZGNX, ZLTQ
Mon, Apr. 18, 9:20 AM
Fri, Apr. 15, 12:41 PM
Wed, Apr. 13, 7:12 PM
- Chesapeake Energy (NYSE:CHK) was able to maintain its $4B bank line but many of its competitors are faring far worse: Since the start of 2016, lenders have yanked $5.6B of credit from 36 oil and gas producers, a 12% reduction, according to data compiled by Bloomberg.
- Banks are cutting their oil and gas exposure in part because they are facing pressure from regulators and investors to rein in risk; JPMorgan said today that it had set aside another $529M to cover expected energy loan losses.
- "The banks are walking a tightrope," says Bloomberg's Spencer Cutter. "They don’t want to push the companies into bankruptcy, but on the other hand they’re getting a lot of heat from regulators and investors. They can’t keep kicking the can down the road like they did last year."
- At least 15 companies have seen their credit lines cut, including Whiting Petroleum (NYSE:WLL), Rex Energy (NASDAQ:REXX), Halcon Resources (NYSE:HK), Goodrich Petroleum (GDP) and Midstates Petroleum (NYSE:MPO).
- ETFs: XLE, VDE, ERX, OIH, XOP, FCG, ERY, GASL, DIG, DUG, BGR, XES, IYE, IEO, FENY, IEZ, PXE, FIF, PXJ, RYE, NDP, GUSH, DRIP, DDG, FXN
Mon, Apr. 11, 3:48 PM
- Rex Energy (REXX +23.4%) powers higher after reaching an agreement with INEOS for the sale and transport of ethane, propane and butane gas liquids from the Appalachina Basin for offtake to European markets.
- REXX says transportation of ethane supplies began this month, while propane and butane supplies will start with the completion of the Mariner East 2 pipeline in 2017.
- REXX says the contract adds to its supply portfolio providing for long-term sourcing of advantageously priced U.S. natural gas liquids for its European crackers.
- Now read Rex Energy: The 8.875% senior notes appear to have some speculative appeal
Fri, Mar. 18, 12:48 PM
Thu, Mar. 17, 9:15 AM| Thu, Mar. 17, 9:15 AM
Tue, Mar. 15, 4:18 PM
- Rex Energy (NASDAQ:REXX): Q4 EPS of -$0.20 beats by $0.23.
- Revenue of $34.52M (-50.9% Y/Y) misses by $9.85M.
Mon, Mar. 14, 12:45 PM