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Rex Energy Corp
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Q1 2015 Conference Call
| Tom Stabley | Page 4 of 11 |
November 21, 2024
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"Q1 2015 Conference Call"
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Upcoming Divestitures & Joint Ventures Current / In Process Asset Divestitures & JV’s ? Closed on March 30, 2015 ? $16.6 million received at closing – initial contract value of $67.6 million with option for JV partner to participate as 20% working interest partner in additional 17 wells in 2016 with value of $21.million Butler Operated Area JV Keystone Clearwater Divestiture ? Investment bank engaged to market transaction ? Expect to close transaction by June 30, 2015 ? Proceeds estimated to bring in $60 - $80 million Potential / Possible Asset Divestitures Appalachia Non-Op ? WPX (current operator) is currently marketing 100% of the assets ? Includes midstream and upstream assets Ohio Utica Warrior South ? Net average daily production of 3,860 boe/d ? Acreage located in Guernsey, Noble and Belmont counties in Ohio Illinois Basin ? Engaged Evercore as an advisor to explore monetization ? 100% crude oil asset ? Average net production of ~2,000 bbls/d Moraine East JV ? Continue to explore potential long-term partner in Moraine East to develop liquids-rich locations