Rex Energy (REXX) issued an operations update on its leasehold in the Appalachian Basin that is prospective for the Marcellus Shale.
Rex Energy is operating three rigs in the Butler operating area and recently completed three horizontal wells from the Talarico pad. These wells had an average combined five day initial production rate of 13.1 million cubic feet of natural gas equivalents per day.
Rex Energy also just finished hydraulic fracturing operations on two Marcellus Shale wells drilled from the McElhinney pad. The wells are currently flowing back and no production information is available.
Rex Energy is involved as a non operator in a joint venture with Williams (WMB) on acreage in Westmoreland and Clearfield Counties in Pennsylvania. The company reported that hydraulic fracturing operations have been completed on three Marcellus Shale wells drilled from the Uschak #2 pad.
The joint venture just started hydraulic fracturing operations on three Marcellus Shale wells drilled from the Androstic pad and expects these wells to be completed by mid June 2011.