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Timothy Smith

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Timothy Smith

Re: OakesCS post# 12213

Wednesday, 03/02/2016 11:47:26 PM

Wednesday, March 02, 2016 11:47:26 PM

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$REXX - Rex Energy (NASDAQ:REXX) +12.1% premarket after announcing a $175M joint venture with P-E firm Benefit Street Partners to develop 58 specifically designated wells in the company's Moraine East and Warrior North operated areas.

Rex says the agreement will allow it to drill 15 more wells at its Appalachian projects in Pennsylvania and Ohio this year, while lowering its expected operational capex to a range of $30M-$40M.

Upon completion of the 58-well program, Rex says it will hold ~42K acres in Moraine East and 10.4K acres in Warrior North.

Purely My Own Opinion. Do Your Own Due Diligence.

“Formula for success: rise early, work hard, strike oil.” - J. Paul Getty

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