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Rex Energy Corp
April 2012 Corporate Presentation
| Patrick M. McKinney | Page 28 of 11 |
October 28, 2016
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"April 2012 Corporate Presentation"
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ASP Economics 28 0 5 10 15 20 25 30 35 40 45 50 9 10 11 12 13 14 15 16 17 18 19 20 IRR (% ) Pore Volume Recovery % Delta Unit ASP Economics 1. Resource potential and pore volume recovery assumptions based on full development program. Individual ASP unit results may vary significantly. See note on “Hydrocarbon Volumes” on page 3 2. See note on “Potential ASP Units” on page 3 3. Based on company estimates and projections to date. See note on “Hydrocarbon Volumes” on page 3 Resource Potential Range Confirmed • Proved reserve bookings at 13% of pore volume recovery confirming mid-point resource potential range of ~31.5 MMBbls (net) • North and Central Lawrence Units reviewed for ASP potential in Bridgeport and Cypress formations by NSAI • 27 ASP targets identified across both units combined2 • Estimated 76% of North and Central Lawrence acreage prospective for ASP flooding, with a further ~1,900 acres of South Lawrence unit to undergo further review Delta Unit Conceptual Economics3 • $5MM of Capex in 2012 and $21MM in 2013 • Proved reserve bookings at 13% of Pore Volume equate to ~20% IRR at $100/Bbl NYMEX prices • All reserves recovered in first 5 years • Discounted Return on Investment: ~1.25 • Full-cycle F&D Cost ~$30/Bbl Resource Potential: North & Central Lawrence Units1 Low Case High Case Bridgeport Sand Pore Volume 182.7 MMbbl Cypress Sand Pore Volume 128.3 MMbbl Royalties 22% Recovery Potential (%PV) 8% 20% Total ASP Upside Potential (Net) 19.4 MMbbl 48.5 MMbbl