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Jun. 11, 2015, 3:59 PM
- Rex Energy (REXX -6.1%) is sharply lower despite announcing positive initial testing results in the Moraine East area that show its Renick 2H well produced 6.6M cfe of natural gas over a 24-hour period while its Renick 3H well reached 8.8M cf/day.
- Rex says it expects the Renick pad to be placed into sales at the end of 2015 in conjunction with MarkWest Energy Partners.
- In presentation slides yesterday, Rex said it sees Q2 production of 199M-205 Mcfe/day, FY 2015 production of 193M-203M cfe/day, and FY 2015 capex of $135M-$145M.
May 5, 2015, 4:14 PM
- Rex Energy (NASDAQ:REXX): Q1 EPS of -$0.11 beats by $0.12.
- Revenue of $54.1M (-33.5% Y/Y) misses by $4.92M.
- Shares +6.4%.
Mar. 31, 2015, 9:13 AM
Mar. 31, 2015, 8:15 AM
- Rex Energy (NASDAQ:REXX) announces a joint venture agreement with ArcLight Capital Partners to develop 32 wells in the company's Butler Operated Area in the Marcellus Shale, with the P-E firm funding 35% of the well costs.
- REXX expects the agreement to its 2015 capex program by $60M to $135M-$145M, a 30% decrease at the midpoint of guidance; total consideration for the deal is $67M.
- Taking into account the new joint venture, REXX now foresees Q1 production at the midpoint of its previously announced guidance of 190M-196M cfe/day and FY 2015 production of 185M-195M cfe/day, a 23% Y/Y increase at the midpoint of guidance.
Feb. 18, 2015, 4:09 PM
- Rex Energy (NASDAQ:REXX): Q4 EPS of $0.02 beats by $0.08.
- Revenue of $70.25M (+10.6% Y/Y)
Feb. 17, 2015, 5:35 PM
- ABX, ACT, AMTG, ARII, ARRS, ASGN, AVG, AXLL, BGS, BJRI, CAR, CDE, CSLT, CVG, CW, CYNI, DENN, DTLK, ELNK, EOG, EQC, ETE, ETP, EXAM, FNF, HSTM, HT, IAG, IPI, KEG, KEYW, LHO, LOPE, MANT, MAR, MHLD, MIC, MRO, NVMI, OGS, OIS, PAAS, PCYC, PKD, REXX, RGP, SBRA, SCTY, SIX, SNPS, SSS, STR, SUN, SUNE, SXL, TERP, THRX, TILE, TRN, TS, UAM, WES, WGP, WMB, WPZ, XPO, YUME
Feb. 13, 2015, 9:15 AM| Feb. 13, 2015, 9:15 AM | 3 Comments
Feb. 4, 2015, 9:13 AM
Jan. 28, 2015, 7:27 PM
- Even though the energy sector has been under selling pressure for months, up until recently the list of the 35 stocks in the S&P 1500 with more than 25% of their free-floating shares sold short only contained a few stocks from the group.
- This has changed dramatically, Bespoke reports, as 10 of the 35 stocks are now from the energy sector; leading the way lower are Swift Energy (NYSE:SFY), Rex Energy (NASDAQ:REXX) and Comstock Resources (NYSE:CRK).
- Also on the list: PGN, CRR, RIG, PVA, AREX, DO, NOG.
- Another bearish indicator: The average short interest as a percentage of float for energy stocks is now 9.5%, the highest since at least 2008 and 55% above the average reading over that time period.
Jan. 28, 2015, 9:14 AM
Jan. 27, 2015, 5:14 PM
- Rex Energy (NASDAQ:REXX) says its proved oil and natural gas reserves at year-end 2014 totaled 1.337T cfe, a 57% increase (~487B cfe) from total proved reserves reported at year-end 2013.
- Of the 1.3T cfe of total proved reserves, 37% was attributable to oil, condensate and natural gas liquids, with 63% attributable to natural gas.
- REXX says proved developed reserves at year-end 2014 totaled 586.7B cfe, up 65% Y/Y, and its PV-10 rose 80% to $1.2B from a year-earlier PV-10 of $668.7M.
Jan. 20, 2015, 8:59 AM
- Rex Energy (NASDAQ:REXX) +4.9% premarket after providing an update on its core operations, which included a 66% increase in full-year production to 154.4M cfe/day and a 15% increase in Q/Q production to 196M cfe/day.
- Says Q4 average daily production from oil, condensate and natural gas liquids reached a record 12.1M boe/day, up 16% Y/Y.
- Achieved well cost reduction of ~5% in the Butler Operated Area, with an additional 3%-5% expected in mid-year 2015.
- REX says it now has ~80% of its natural gas production and 70% of its oil and condensate production hedged above current market prices.
- Reports cash on hand of ~$18M from its continuing operations with no borrowings outstanding from its $400M credit facility.
Jan. 16, 2015, 5:36 PM
Jan. 12, 2015, 12:46 PM
Jan. 7, 2015, 7:05 PM
- U.S. oil producers will keep pumping, even at sub-$50 crude oil, because they have to pay off debt, but they are having trouble keeping up with debt payments in the wake of raising their borrowing 55% since 2010 to nearly $200B, WSJ reports.
- Energy analysts warn defaults could be coming: “The group is not positioned for this downturn... There are too many ugly balance sheets,” says Baird's Daniel Katzenberg.
- Lenders are already doling out tough love to companies, MLV amalyst Chad Mabry says, with some lenders wanting to see producer plans for handling further price drops while others are urging asset sales.
- The 10 highest ratios of net debt/EBITDA from the last 12 months, according to S&P Capital IQ, belong to KWK, AR, WRES, GDP, REN, HK, XCO, REXX, MPO, EPE.
Jan. 4, 2015, 3:49 PM
- The following stocks were the Russell 2000's worst performers in 2014:
- KWK -93.5%. WLT -91.7%. AMZG -89.5%. PHMD -88.2%. EXXI -88%. RGDO -86.8%. REN -85.4%. HERO -84.7%. EOX -84.3%. MCP -94.3%. CVEO -84.2%. BPZ -84.1%. FWM -82.6%. MILL -82.2%. NADL -81.6%. VRNG -81.4%. CYTX -81%. SALT -80.5%. PRKR -80%. MBII -79.7%. NTLS -79.2%. COVS -78.9%. KEG -78.9%. MM 78 MPO -77%. ANR -76.6%. EXEL -76.5%. SZYM -76.3%. CONN -76.2%. ANV -75.5%. GALT -75.5%. ZQK -74.8%. ARO -74.5%. REXX -74.1%. GDP -74%. FUEL -73.8%. QRHC -73.7%. VTG -73.4%. RLOC -73%. XONE -72.2%.
Rex Energy Corp is an independent energy company. The Company is engaged in acquisition, production, exploration and development of oil and gas with properties concentrated in the Appalachian and Illinois regions.
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