Rex Energy (REXX) issued an operations update on its activities in the Marcellus Shale in Pennsylvania. The company has drilled nine horizontal wells in 2010 on its own operated acreage in Butler County. Four of these wells have been completed and the company plans to complete the other five Marcellus Shale wells during the third quarter of 2010.
Rex Energy reported that the Knauf #1H and Knauf #2H Marcellus Shale wells produced at a combined 24 peak rate of 6.7 million cubic feet equivalent per day.
The company is currently applying for an air permit for its cryogenic gas processing plant in the Marcellus Shale, and expects the plant to begin operations in October 2010. The plant will have the capacity to process 20-25 million cubic feet equivalent per day when it begins operations. This capacity will be increased to 40 million cubic feet equivalent per day.
Rex Energy is also involved with the Williams Companies (WMB) in a joint venture in the Marcellus Shale in Westmoreland and Clearfield County.
The Slavek Trust #1H was completed and produced at a 24-hour peak rate of 4.9 million cubic feet per day. The joint venture plans to drill two additional Slavek Trust wells.
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