Rex Energy Q4 Production Up
Rex Energy has reported that production in the fourth quarter of 2007 totaled 260,472 barrels of oil equivalent, of which approximately 80% was attributable to oil. Production volumes increased approximately 2% from the same period in 2006 and 1% over the third quarter of 2007.
Revenues for the fourth quarter of 2007 were $16.1 million, representing a 21% increase from revenues of $13.3 million in the fourth quarter of 2006 and an increase of approximately $1 million, or 7%, from the third quarter of 2007.
Production for the year ended December 31, 2007 totaled one million barrel of oil equivalent, of which approximately 80% was attributable to oil. Production volumes increased approximately 31% over 2006. Revenues in 2007 were $57.8 million, representing a 46% increase from 2006 revenues of $39.6 million.