Rex Energy (REXX) issued an operations update on its oil and gas exploration and development activities in various domestic basins, and provided information on its Niobrara Shale properties.
Rex Energy was completing the Silo State 41-22 when it encountered problems with the tubing string, causing a ten-day delay in completion. The company has recovered 20% of the fracturing fluid and noted “increasing oil cuts.” Rex Energy expects to release initial production rate data on this Niobrara Shale well sometime in November 2010.
Rex Energy reported that the company has reached total depth on the Herrington Farms 1H well, the company’s second well into the Niobrara Shale, and will start completion operations here in November 2010.
Rex Energy has permits to drill four other Niobrara Shale wells and expects to spud the BJB #1H well before the end of 2010.