Rex Energy Corp. (REXX) Grows Reserves By 90%
Rex Energy Corp. reported a net loss of $4.6 million, or $0.12 per share, for the quarter ending 12/31/09. The company lost $40 million, or $1.10 per share, in the same quarter in 2008. REXX Energy reported proved reserves of 125.2 Bcfe at the end of 2009, up 90% from year-end 2008. These reserves were 45% natural gas, 49% oil, and 6% natural gas liquids. REXX Energy said that total production for 2009 averaged 16.1 million cubic feet equivalent per day, a 3% increase over 2008. Benjamin W. Hulburt, the CEO of Rex Energy Corporation, said, “It was a challenging…