Rex Energy Offers Operational Update

Rex Energy Corporation

provided an operational update on the company's Appalachian Basin operations. Operational Update Appalachian Basin – Legacy Butler Operated Area During the first quarter of 2015, the company placed the four-well Powell pad into sales. The four-well Powell pad was drilled with an average lateral length of 5,500 feet and completed with an average sand concentration of approximately 2,300 pounds per foot. The four-well Powell pad produced at an average 5-day sales rate per well of approximately 9.3 MMcfe/d. The company has also placed the two-well Hamilton pad into sales. The two wells on the pad were drilled with an average lateral length of approximately 4,700 feet and completed with an average sand concentration of approximately 2,300 pounds per foot. The two-well Hamilton pad produced at an average 5-day sales rate per well of approximately 7.8 MMcfe/d. "We are very pleased with the performance to date of our two most recent pads in the Butler Operated Area," said Tom Stabley, Rex Energy's Chief Executive Officer. "The results of the Powell and Hamilton pads support our belief that increased sand concentration utilized during the completion process results in higher IPs and better performance on our Marcellus type curve. Based on the 5-day sales rates, these two pads are on trend to meet or exceed our 2015 Marcellus type curve projections." The company has released its second rig in the Appalachian Basin and expects to run a one-rig program through the remainder of 2015. Appalachian Basin – Moraine East Area In the Moraine East Area, the company has completed drilling the final well of the four-well Renick pad. The four wells on the pad were drilled to an average lateral length of approximately 5,820 feet. The company expects to begin completion operations on the four-well Renick pad at the end of March 2015. Appalachian Basin – Warrior North Prospect, Carroll County, Ohio As previously announced, the company's first quarter 2015 production had been constrained, in part because of involuntary production curtailments in the Warrior North Prospect due to downtime at the Blue Racer compressor station. The issue at the Blue Racer compressor station has been resolved and the company does not anticipate future production to be constrained in the Warrior North Prospect.