Rex Energy (REXX) reported that two recent wells completed into the Niobrara Shale are non commercial. These wells are the Steege #1-33H, located in Laramie County, Wyoming, and the Shapley #14-25H well, located in Weld County, Colorado.
Rex Energy said that the company will shift its resources towards other oil and liquid plays in its portfolio and will pursue “strategic alternatives” including a joint venture or outright sale of the properties. The company has 40,000 net acres prospective for this formation in Wyoming and Colorado.
