Fri, Feb. 13, 9:15 AM| 3 Comments
Wed, Feb. 4, 9:13 AM
Wed, Jan. 28, 9:14 AM
Tue, Jan. 20, 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.
Fri, Jan. 16, 5:36 PM
Mon, Jan. 12, 12:46 PM
Dec. 29, 2014, 5:42 PM
Dec. 22, 2014, 12:50 PM
Dec. 5, 2014, 5:40 PM
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.
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.
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.
Aug. 20, 2014, 5:35 PM
Aug. 12, 2014, 5:37 PM
Jul. 11, 2014, 5:35 PM
Apr. 30, 2014, 12:54 PM
- Rex Energy (REXX +3.2%) says it signed binding agreements with Dominion (D) and Texas Gas Transmission to pipe natural gas from Pennsylvania to the midwest and Gulf coast.
- The Dominion deal will allow for expanded capacity on ~235 miles of existing pipeline, while the Texas Gas agreement will allow for expanded capacity on ~690 miles of existing pipeline.
- Northland Capital raises its REXX price target to $28 from $25 following the gas transport deals as well as an impressive Q1 earnings report, as production exceeded the high end of guidance and EBITDA beat the firm's estimate (Briefing.com).
- Financial terms of the separate deals were not disclosed.
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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