Rex Energy to Drill 12 Wells in Carroll County
STATE COLLEGE, Pa. – Rex Energy Corp. plans to drill 12 new wells in Ohio’s Utica shale this year as part of its Warrior North holdings in Carroll County.
The drilling and completion activity of the wells will begin during the second half of the year, with an average lateral length of each well of approximately 7,000 feet, the company reported in an operational update released with its first quarter financial results.
Most of the Utica wells should be in production by the beginning of 2018, the company said.
Rex Energy also said it has drilled the last of four wells in its Butler Legacy operated area, most of which is in Butler County, Pa. The company reported it drilled seven wells and completed four during the quarter in its Moraine East Area, also in Butler County.
Rex Energy reported net income of $2.1 million during the first three months of 2017. The company reported a loss of $62 million during the same period a year ago.
Copyright 2018 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
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