Rex Energy (REXX) issued an operational update on the company’s operated activity in the Appalachian basin where it is developing the Marcellus Shale.
Rex Energy put onto production three wells drilled from the Behm pad in Butler County, Pennsylvania. The wells had an average production rate during the first five days of 6.6 million cubic feet of natural gas equivalents per day. The company said that this production rate was 50% higher than wells drilled from the Talarico pad and 74% higher than the Drushel pad.
The Behm wells had an average production rate during the first thirty days of 5.3 million cubic feet of natural gas equivalents per day. This is 66% and 71% above the Talarico and Drushel pads, respectively.
Rex Energy believes that the Behm Marcellus Shale wells will have an estimated ultimate recovery rate in excess of 5 Bcfe.