July 21, 2008
Rex Energy Corporation Names Mark A. Butta As Vice President of Oil and Natural Gas Marketing
Rex Energy Corporation ("Rex Energy") (NASDAQ:REXX) announced today that it has named Mark A. Butta as Vice President of Oil and Natural Gas Marketing and Transportation.
A 25-year veteran in the oil and natural gas industry, Mr. Butta will oversee Rex Energy's oil and natural gas marketing and transportation department and will report to William L. Ottaviani, Executive Vice President and Chief Operating Officer.
Prior to taking his current position with Thermal Ventures II, Mr. Butta worked for Range Resources where he served as Director of Energy Services and was responsible for business development, sales, contract administration and gas transportation. Mr. Butta comes to Rex Energy from Thermal Ventures II, L.P. in Youngstown, Ohio, where he served as Vice President of Project Development. His responsibilities were primarily focused on risk mitigation for oil and gas initiatives, contract negotiation and stakeholder relations. Mr. Butta's other experience includes: Director of Gas Marketing for North Coast Energy; Regional Manager of Gas Purchasing for Enron Access Corporation; Director of Sales and Supply for Phoenix Diversified Ventures and Manager of Gas Transportation for Equitable Resources. Mr. Butta has a B.S. degree in Mechanical Engineering Technologies from Point Park University in Pittsburgh, Pennsylvania.
"We are extremely excited that Mark has chosen to join the Rex Energy team," said Benjamin W. Hulburt. "He comes to us with a proven track record of leadership, strategic planning and negotiation in the natural gas marketing arena, predominately in the Appalachian Basin. I believe his experience will prove to be invaluable as we continue to explore and develop current and future prospects--especially those in our expanding Marcellus Shale project areas."
About Rex Energy Corporation
Rex Energy Corporation is an independent oil and gas company operating in the Illinois Basin, the Appalachian Basin and the Southwestern Region of the United States. The Company has pursued a balanced growth strategy of exploiting its sizable inventory of lower risk developmental drilling locations, pursuing its higher potential exploration drilling prospects and actively seeking to acquire complementary oil and natural gas properties.
For more information, contact: Joseph DeSimone, director of investor relations, at (814) 278-7267 or [email protected]
Except for historical information, statements made in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are subject to a wide range of business risks and uncertainties, and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, the volatility of oil and gas prices, the costs and results of drilling and operations, the timing of production, mechanical and other inherent risks associated with oil and gas production, weather, the availability of drilling equipment, changes in interest rates, litigation, uncertainties about reserve estimates, environmental risks and the occurrence of any unanticipated acquisition opportunities. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Further information on risks and uncertainties is available in the Company's filings with the Securities and Exchange Commission.