Rex Energy (REXX) issued updated information on the company’s cost to drill and complete wells into the Marcellus Shale in 2011. The company also increased the estimated ultimate recovery (EUR) on Marcellus Shale wells.
Butler County Operated
Rex Energy said that wells in this area cost $5.3 million to drill and complete, up from $4.7 million in 2010. These wells are also more productive and have a EUR of 5.3 Bcfe in 2011, up from 4.4 Bcfe in 2010.
Westmoreland County – Non Operated
Rex Energy said that wells in this area cost $5.8 million to drill and complete, up from $4.7 million in 2010. These wells are also more productive and have a EUR of 4.2 Bcfe in 2011, up from 3 Bcfe in 2010.
Centre and Clearfield Counties – Non Operated
Rex Energy said that wells in this area cost $5.8 million to drill and complete, up from $4.7 million in 2010. These wells are also more productive and have a EUR of 4.1 Bcfe in 2011, up from 3 Bcfe in 2010.
The well costs and EUR’s are based on 3,500 foot laterals and a twelve stage hydraulic fracturing operation.
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