Rex Energy Corporation (NASDAQ:REXX) Proved Reserves Announced


Dallas, Texas 02/06/2014 (FINANCIALSTRENDS) Rex Energy Corporation (NASDAQ:REXX) reported at its website, estimated reserves it holds in Natural Gas Liquids, oil as well as Natural Gas reserves by the end of December 31, 2013.

Reserves reportedly higher

Rex Energy Corporation (NASDAQ:REXX) announced that the proven reserves it holds under the various categories are 849.8Billion cfe as on Dec 31. The numbers reveal that the reserves in the past year have grown by 37%. In particular the oil, natural gas liquids reserves and condensate are at 39% higher.

Rex Energy Corporation (NASDAQ:REXX) however reported that price reconciliation with that of Dec 2012 prices is at $93.42/bbl of oil and natural gas liquids. The price for natural gas stands at $3.67/mBtu. Production particulars too were revised and 923% of which 33,850 Million cfe for the year 2013.

The stock currently trades on the stock market at $18.13. The high and low at which the stock traded for the day is between $17.90 and $18.08. The 52 week high for the stock is $25.17 and 52 week low of $12.84. The market cap for the company is $972.29 million and PE ratio of 90.57. The EPS reported for REXX is 0.20, while beta is 2.14.

Rex Energy Corporation (NASDAQ:REXX) had earlier in January announced that the expected production in 2014 is poised at 57%. It also provided operational update simultaneously.

The company holds over 2117 wells across the various sites it operates. Of these wells more than 517 are disposal as well as injection wells. The average production for the company stands at 49.2 cubic feet a few years ago.

Rex Energy Corporation (NASDAQ:REXX) the US head quartered, oil and gas company is involved in the exploration in the Appalachian Basin as well as the Illinois Basin.  The core sites in which the company operates in Appalachian Basin is the Marcellus Shale projects, as well as the Utica Shale, and the Upper Devonian Shale.

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