Fri, Aug. 21, 5:36 PM
Tue, Aug. 4, 4:28 PM
Wed, Jul. 22, 2:37 PM
- A reduction in non-OPEC production eventually will provide an opportunity for U.S. producers to get back in the game, Credit Suisse analyst Mark Lear says as he upgrades the oil and gas E&P sector to Overweight and changes ratings for several individual stocks.
- Lear sees a handful of names with limited downside at WTI prices of ~$60/bbl and “decent” upside with prices in the $70’s, and expects a better year for natural gas in 2016 as dropoffs in production and higher demand could lead to higher winter prices.
- "We may be early,” but Credit Suisse assumes coverage at Outperform on some E&P stocks: EOG, EPE, PXD, DNR, APC, DVN.
- Upgraded to Outperform from Neutral: HES, CXO, CRZO, NBL
- Upgraded to Neutral from Underperform: MUR.
- Assumed coverage at Neutral: APA, DNR
- Assumed at Underperform: SD, SWN
- Downgraded to Underperform from Neutral: REXX, CRK
Wed, Jul. 22, 12:45 PM
Wed, Jul. 8, 5:41 PM
- Rex Energy (NASDAQ:REXX) says it is planning its first test of the potential of the deep Utica Shale dry gas play on its holdings in western Pennsylvania, potentially opening up an entirely new play under its existing Marcellus Shale development.
- REXX plans to drill the dry gas well in the Western Lawrence Utica region to a lateral length of ~7K ft., and expects the well to be drilled and completed in Q3 and placed into sales in Q4.
- The company also reports strong test results for its remaining two wells on the four-well Renick pad in Moraine East and its Harvey two-well pad that was placed into sales in its legacy Butler operated area.
- Investors apparently were expecting better results, as shares fell 11.2% in today's trade.
Thu, Jun. 18, 6:41 PM
- Rex Energy (NASDAQ:REXX) +2.2% AH after it agrees to sell its Keystone Clearwater Solutions water management unit in the Appalachian basin to American Water Works (NYSE:AWK) for $130M in cash and debt.
- REXX says the sale will help provide flexibility for the development of its core assets in the Appalachian Basin; AWK says the acquisition will enhance its ability to provide additional water services solutions to shale development companies.
- REXX expects to clear ~$66M on the deal after taxes and adjustments.
Thu, Jun. 18, 5:36 PM
Thu, Jun. 11, 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.
Tue, May 5, 4:14 PM
Tue, Mar. 31, 9:13 AM
Tue, Mar. 31, 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.
Wed, Feb. 18, 4:09 PM
Tue, Feb. 17, 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
Fri, Feb. 13, 9:15 AM
Wed, Feb. 4, 9:13 AM
Wed, Jan. 28, 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.
REXX vs. ETF Alternatives
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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