Marcellus Exclusives

The deal reduces REXX’s 2015 capex budget by 30% and gives the company firm footing through fourth-quarter 2014 but asset sales will still be needed. 

A Pennsylvania-based oilfield service firm is enjoying robust growth, thanks to its emphasis on quality, safety and its innovative approach to forming key strategic alliances.

After spending more than $5 billion in the Marcellus and buying assets from Statoil and WPX, the company plans to divest up to $800 million to overcome a cash flow gap.

Heard In The Field

Marcellus Gross Acreage

Company Net Acreage
Chesapeake 1,376,675
Shell 1,005,000
Range Resources 835,000
National Fuel Gas 780,000
All Top Acreage Holders