Rex Energy Corp. (REXX) Completes Well

 @ibtimes on December 09 2009 4:49 AM

Rex Energy Corp. reported the completion of a well in the Marcellus Shale. The Alder Run #1H had an average production rate of 4.1 million cubic feet per day of natural gas during the first 13 days.

The Alder Run #1H well is located in Clearfield County, Pennsylvania. The well was drilled to a total depth of 8200 feet, completed with a lateral extension of 2700 feet and hydraulically fractured to stimulate enough production to make the well commercial.

Rexx Energy Corporation is an oil and gas exploration and production company with properties in the Illinois Basin and the Appalachian Basin of the United States. The company has 81,200 gross acres under lease in the Appalachian Basine. In the Illinois Basin, Rexx Energy Corporation has properties in the Lawrence Field, and is injecting a surfactant polymer into old wells in this field to stimulate production.

Rexx Energy Corporation reported proved reserves of 11 million barrels oil equivalent (BOE), and production of 2684 BOE per day as of the third quarter of 2009. Seventy-two percent of its production is oil.

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