Rex Energy — Corporate Update (June 2017)
6 slides from Rex Energy's corporate update, Jun 12, 2017
Slide 1: Rex Energy Milestones
Rex Energy Milestones Financial and Operational Milestones Non-core Asset Sales June 2015 - Keystone Clearwater Solutions - $66 million in net proceeds June 2016 - Illinois Basin Assets - $40.0 million in net proceeds January 2017 - Warrior South Assets - $30.0 million in net proceeds Joint Developm
Slide 2: Future Liquidity Milestones
Future Liquidity Milestones Current Initiatives/Future Milestones Future non-core asset sales Western Lawrence Assets Salineville Waterline – sale of underground waterline Westmoreland/Clearfield Assets Marketing Initiatives Currently in discussions to renegotiate condensate contracts Opportunity fo
Slide 3: Operational Focus
Operational Focus Moraine East Area Four-well Baird pad Placed into sales on May 31, 2017 24-hour sales rate of 10.1 Mmcfe/d consisting of 4.4 MMcf/d of natural gas, 823 bbls/d of NGLs and 124 bbls/d of condensate Two Marcellus wells produced at an average 24-hour sales rate of 12.1 Mmcfe/d Baird 4H
Slide 4: Capital Efficient Production Growth
Capital Efficient Production Growth (2) (1) 2012 – 2016 net operational capital expenditures excludes capital related to the Illinois Basin and Warrior South assets, which were divested in 2016 and 2017, respectively (2) 2012 – 2016 average daily production excludes production related to the Illinoi
Slide 5: Capital Efficient Growth Leads to Improved Debt Metrics
Capital Efficient Growth Leads to Improved Debt Metrics 1Q16 – 4Q16 TTM EBITDAX excludes EBITDAX related to the Illinois Basin and Warrior South assets, which were divested in 2016 and 2017, respectively Strip pricing as of 4/20/2017: 2017: Natural Gas: $3.27; WTI: $50.74; NGLs: $26.45; 2018: Natura
Slide 6: Utilizing Existing Pads to Maximize Efficiency
Utilizing Existing Pads to Maximize Efficiency Utilizing existing pads and increased well density saves approximately $1.0 million per pad Infrastructure already in place Land/title work already complete Rex has over 75 existing pads in its Butler Operated Area and Warrior North Area 40% of 2017/201