18 Dec 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 47,840 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP Sr. VP of Exploration David E Pratt received 30,273 shares as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner received 4,942 shares and a 3,295-share option grant as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP President and COO Patrick M Mckinney received 123,558 shares as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP Sr. VP, Land F Scott Hodges received 35,832 shares as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP Sr. VP, HR & Admin. Christina K Marshall received 19,275 shares as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP CEO Thomas Charles Stabley received 142,092 shares as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP Chief Accounting Officer Curtis J Walker received 12,975 shares as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP director John W Higbee received 4,942 shares and a 3,295-share option grant as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP director Eric L Mattson received 4,942 shares and a 3,295-share option grant as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP director John J Zak received 4,942 shares and a 3,295-share option grant as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP director John A Lombardi received 4,942 shares and a 3,295-share option grant as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP VP, General Counsel and Secr. Jennifer L Mcdonough received 35,832 shares as part of the equity award.
17 Dec 2012director interest notice● Neutral
REX ENERGY CORP CFO Michael L Hodges received 49,422 shares as part of the equity award.
14 Dec 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 69,655 shares.
12 Dec 2012debt financing● NeutralMajor
Rex closed a private sale of $250 million of 8.875% senior unsecured notes due December 1, 2020, with net proceeds of about $242.8 million. The filing says the money was used to repay all revolving credit borrowings, repay in full and terminate the second lien term loan, and for general corporate purposes. This completes the notes offering announced in November and removes the second lien loan from the debt structure; the new notes rank behind the secured bank debt, and Rex must offer to swap them for registered notes within about 360 days.
12 Dec 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 166,002 shares.
10 Dec 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 284,419 shares.
6 Dec 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 212,169 shares.
4 Dec 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 110,962 shares.
13 Nov 2012material agreement▲ GoodMajor
Rex amended its senior and second lien credit agreements (11th and 3rd amendments, effective Nov 12, 2012) so the cap on total debt to EBITDAX of 4.25 to 1.00 applies to quarters ending after December 31, 2012. It also published interim proved reserves of 612.1 Bcfe at Oct 31, 2012 (up 67% from year-end 2011, or 34% excluding ethane), a preliminary 2013 budget with 2013 production growth guided at 34%-40%, and recast its 2011 and 2010 financials into two segments (exploration and production, and field services) with no change to revenue or net loss. It also announced plans for a private offering of senior notes due 2020, which is the financing that followed in December.
9 Nov 2012quarterly activities report▼ Bad
REX ENERGY CORP reported quarterly revenue of $38.9 million and a net loss of $2.2 million for the period ended 2012-09-30.
7 Nov 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 59,050 shares.
6 Nov 2012quarterly activities report▼ Bad
REX ENERGY CORP reported quarterly revenue of $38.9 million and a net loss of $2.2 million for the period ended 2012-09-30.
26 Sept 2012production update● NeutralMajor
Rex reported its first Ohio Utica well, the Brace #1H in Carroll County, at 1,094 Boe/d on its first day of sales and 1,008 Boe/d over five days (assuming full ethane recovery). The company says Rex has about 15,400 net acres there and plans nine more drills in 2013. It also lowered production guidance: third quarter is now 70-72 MMcfe/d (was 73-76) and full year 66-69 MMcfe/d, blaming commissioning and maintenance problems at the MarkWest-run Bluestone/Sarsen plant and its own choice to defer some Butler output to test longer shut-ins.
25 Sept 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 11,200 shares.
20 Sept 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 1,600 shares.
18 Sept 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 55,621 shares.
17 Sept 2012director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner sold 195,286 shares.
5 Sept 2012material agreement▲ Good
Rex's banks raised the senior credit facility borrowing base by $25 million, from $265 million to $290 million, which the company's press release attributes to drilling success and reserve and production growth. The second lien agreement was also amended to shorten the required hedging period from 36 to 24 months. This continues the string of borrowing base increases (from $240M in December 2011).