Rex Energy (REXX) issued an operations update on its development activity in Butler County, Pennsylvania, where the company is working on the Marcellus Shale formation. The company is operating three rigs on its properties here.
Rex Energy drilled and completed four out of five Marcellus Shale wells from the Drushel pad in April 2011, and these well produced an average of 3.7 million cubic feet of natural gas equivalents per day during the first five days and 3.6 million cubic feet of natural gas equivalents per day during the first 30 days of production.
Rex Energy recently finished drilling three wells from the Talarico pad and started completion operations in early May 2011. The company has also completed drilling operations on four of seven wells from the Grosick pad into the Marcellus Shale. Rex Energy is also working on drilling from the McElhinny, Behm and Gilliland pads.
