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Rex Energy Corporation (REXX)

  • Dec. 22, 2014, 5:58 PM
    • Rex Energy (NASDAQ:REXX) says it foresees 2015 capital spending of $180M-$220M, 44% lower than the midpoint of its 2014 capex guidance.
    • However, REXX expects average 2015 production of 196M-205M cfe/day, which would represent 33% Y/Y growth from the midpoint of 2014 average daily production guidance, as the company focuses on its highest quality assets and locations.
    • REXX also says it will continue its pursuit of a joint venture partner for its Moraine East development area in 2015, and has recently begun drilling its first well in the area.
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  • Dec. 22, 2014, 12:50 PM
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  • Dec. 5, 2014, 5:40 PM
    • Top gainers, as of 5:15 p.m.: TPLM +4.2%. MDGN +4.1%. REXX +2.4%. AUQ +2.2%. NGD +1.9%.
    • Top losers, as of 5:15 p.m.: ZAYO -2.9%. MORE -2.4%. EFC -2.3%. SN -1.8%. SD -1.7%.
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  • Nov. 6, 2014, 12:57 PM
    • Rex Energy (REXX -8.6%) is downgraded to Neutral from Outperform with a new $9 price target, lowered from $13, at Baird, which cites reduced development plans and rising leverage-related risks after disappointing Q3 earnings.
    • Baird says its thesis has been changed by REXX's now-clear need for simultaneous alignment of successful execution in one or more major financing transactions, stabilized regional pricing trends, and error-free development progress in order to buttress 2015 financial performance.
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  • Nov. 4, 2014, 4:09 PM
    • Rex Energy (NASDAQ:REXX): Q3 EPS of $0.03 misses by $0.03.
    • Revenue of $86.5M (+37.4% Y/Y) misses by $5.55M.
    • Shares +0.3%.
    • Press Release
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  • Oct. 21, 2014, 3:58 PM
    • Global Hunter revisits its commodity price outlook, now moving to $83 long-term oil vs. $85 previously, applying a higher discount rate to future cash flows and modeling more conservative assumptions with regards to future rig activity, which results in downward revisions for several exploration and production stocks price targets and some rating changes (
    • Anadarko Petroleum (NYSE:APC), Gulfport Energy (NASDAQ:GPOR) and Rex Energy (NASDAQ:REXX) are upgraded to Buy; Talisman Energy (NYSE:TLM) is raised to Speculative Buy from Neutral.
    • Devon Energy (NYSE:DVN), Hess (NYSE:HES), Occidental Petroleum (NYSE:OXY) and Kosmos Energy (NYSE:KOS) are upgraded to Accumulate from Neutral.
    • Cobalt Energy (NYSE:CIE) is downgraded to Speculative Buy from Buy.
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  • Oct. 20, 2014, 10:15 AM
    • Rex Energy (REXX -4.4%) provides preliminary Q3 production results it says exceeded company guidance, and increases its FY 2014 production guidance.
    • REXX says Q3 average production of 169.7M cfe/day exceeds the high end of its guidance by 3%, up 32% Q/Q and 72% Y/Y.
    • Sees Q4 production of 179M-185M cfe/day, with the midpoint of guidance up 7% Q/Q and 65% Y/Y; raises FY 2014 production guidance to 150M-152M cfe/day from its prior guidance of 146M-150M cfe/day.
    • Also says it has hedged ~49% of current natural gas production and ~43% of its current oil production for 2015.
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  • Oct. 6, 2014, 6:23 PM
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  • Sep. 15, 2014, 3:53 PM
    • Rexx Energy (REXX +3%) advances after projecting Q3 production at or slightly above the high end of previously announced guidance of 159M-165M cfe/day.
    • REXX says it recently placed into sales the six-well Grunder pad at the Warrior North prospect; the wells were drilled with an average lateral length of ~4,800 ft. and completed with an average of 24 completion stages.
    • REXX also says it continues to expect its 2014 average realized natural gas price, including the effects of basis hedges, to $0.60-$0.80 below the Henry Hub index price.
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  • Aug. 26, 2014, 8:57 AM
    • Rex Energy (NASDAQ:REXX) says it has signed agreements with MarkWest Energy (NYSE:MWE) that will expand its natural gas processing capacity in Butler County, Pa.
    • Rex says its processing capacity will rise to at least 280M cf/day of gas by the end of 2015 with MWE's Bluestone III facility, and 405M cf/day by the middle of 2016 with Bluestone IV; MWE is in the middle of constructing both facilities.
    • Rex says the recently announced acquisition of Pennsylvania and Ohio acreage from Shell will significantly expand the Butler operated area, and the partnership with MWE will support its growth through increased processing and fractionation capacity.
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  • Aug. 20, 2014, 5:35 PM
    | 1 Comment
  • Aug. 12, 2014, 5:37 PM
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  • Aug. 12, 2014, 4:39 PM
    • Rex Energy (NASDAQ:REXX) agrees to acquire ~208K gross acres in the Marcellus, Upper Devonian/Burkett and Utica shales in Pennsylvania and Ohio from Royal Dutch Shell (RDS.A, RDS.B) for ~$120M.
    • REXX says the additional acreage, combined with recent leasing, will bring its position in its Butler Operated Area to ~298K gross acres.
    • Assets include ~16M cf/day either currently producing or available to produce with minimal capital investment, and additional expected production of ~13M cf/day available from wells in various stages of development.
    • To fund the acquisition, REXX announces a proposed offering of $125M of depositary shares representing convertible perpetual preferred stock.
    • REXX +1% AH.
  • Aug. 5, 2014, 4:19 PM
    • Rex Energy (NASDAQ:REXX): Q2 EPS of $0.16 beats by $0.01.
    • Revenue of $86.02M (+55.4% Y/Y) beats by $0.53M.
    • Shares +0.73% AH.
    • Press Release
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  • Jul. 28, 2014, 4:41 PM
    • In an operations update, Rex Energy (NASDAQ:REXX) says it has placed the three-well Shipley pad in the Butler operated area into sales, which produced at an average five-day sales rate per well of ~8.2M cfe/day, the highest average rate of any wells to date in the Butler area.
    • REXX raises its full-year 2014 production guidance by ~2.M cfe/day at the midpoint to 146M-150M cfe/day from prior guidance of 143M-149M cfe/day, citing strong production results from existing producing properties as well as greater certainty regarding the expected timing of wells to be placed into sales during H2 2014.
    • Expects Q3 production of 159M-165M cfe/day, a 26% Q/Q increase and a 64% Y/Y rise at the midpoint.
    • REXX +1.2% AH.
    | Comment!
  • Jul. 11, 2014, 5:35 PM
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Company Description
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.