Rex Energy Corporation (REXX) is an independent oil and gas exploration and production company based in State College, Pennsylvania. The company's operations are focused primarily on the Appalachian Basin, with a presence in the Marcellus Shale, Utica Shale, and Upper Devonian formations.
REXX is primarily engaged in the acquisition, exploration, and development of oil and natural gas properties, primarily in the Appalachian Basin. The company also engages in marketing of natural gas, natural gas liquids (NGLs), and condensate produced from its wells.
As of the end of 2016, REXX had estimated proved reserves of 441.4 billion cubic feet equivalent (Bcfe), with approximately 76% being natural gas, 11% NGLs, and 13% oil. The company's operations are primarily in Pennsylvania and Ohio.
Like many other independent exploration and production companies, REXX faces a number of risks, including those related to commodity price volatility, operational risks, regulatory risks, and environmental risks. The company's financial performance is highly dependent on the price of natural gas and other commodities, which can be highly volatile.
Overall, REXX is a small, independent oil and gas exploration and production company with operations focused primarily on the Appalachian Basin. The company faces significant risks related to commodity price volatility, operational risks, regulatory risks, and environmental risks.
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