Rex Energy Wraps Up Drilling Ops at First Utica Well

Rex Energy has completed drilling its first Ohio Utica well, the Brace #1H, located in Carroll County. The well encountered approximately 135 feet of Point Pleasant formation and approximately143 feet of overlying Utica Shale formation. The vertical hole was plugged back and the well was drilled to a total measured depth of 12,332 feet with a lateral length of approximately 4,170 feet. Fracture stimulation is currently scheduled for June 2012. Rex Energy intends to shut in the well for approximately 60 days following fracture stimulation to allow for dissipation of frac water before flowing the well back. The rig is in the process of moving back to the Butler operated area where it is scheduled to drill one Utica well in Lawrence County, Pennsylvania, the Hufnagel #1.