Press Releases

Jul 30, 2009
Rex Energy Corporation Announces Second Quarter of 2009 Results

STATE COLLEGE, Pa., Jul 30, 2009 (GlobeNewswire via COMTEX News Network) -- Rex Energy Corporation ("Rex Energy") (Nasdaq:REXX) today announced second quarter of 2009 results. Production averaged 2,595 BOEs per day, which was 78% oil and 22% natural gas. Realized gas prices after adjustment for cash settled derivatives were $6.45 per mcf, versus $9.95 per mcf in the prior year quarter. Realized oil prices after adjustment for cash settled derivatives were $60.05 per bbl, versus $81.27 per bbl in the prior year quarter. As a result, oil and gas sales including cash settled derivatives declined 28% to $13.1 million. EBITDAX, a non-GAAP measure, declined 51% to $4.1 million. The company recorded a loss for the quarter of $9.4 million, or $0.26 per share. Adjusting for certain non-cash items, net loss comparable to analyst estimates was $2.6 million, or $0.07 per share.

Benjamin W. Hulburt, Rex Energy's President and CEO, commented, "While the financial results for the quarter were impacted by the lower commodity prices, we achieved several significant milestones during the quarter. Our natural gas production reached an all time high, up 17% from the prior year quarter. We entered into a joint venture with Williams Production Company, LLC and Williams Production Appalachia, LLC regarding two of our Marcellus Shale project areas that will significantly reduce our capital expenditures for the next two years. This will allow us to accelerate the development of our acreage while simultaneously maintaining a conservative balance sheet. We also continued to make great strides in controlling costs, reducing our production and lease operating expenses by 21% from the same period in 2008. We successfully drilled, completed and put into production our first Marcellus Shale horizontal well in Butler County, Pennsylvania with encouraging results. We completed the acquisition of approximately 6,500 net acres in Butler County in the immediate area of our horizontal well and processing facility. We very recently drilled and completed our second horizontal well, and have commenced drilling the third. Finally, on July 29, 2009, the Commonwealth of Pennsylvania issued the final air permit for our gas processing plant in Butler County. As a result, we are now in the process of final inspections and commencing start-up of the plant."

Natural gas production increased 17% over the prior year quarter, despite significant production curtailments experienced during the current quarter. The company's second quarter natural gas production was adversely affected due to ongoing pipeline maintenance on third party lines serving Rex Energy's field in Westmoreland County. The company estimates that this curtailment resulted in a decrease in natural gas production by 15% to 20%. Although the company expects to experience additional curtailment related to line maintenance during a portion of the third quarter, the curtailment has subsided for the time being. With the first horizontal well in line, Rex Energy's natural gas production has increased to an all time high. The company currently has four gross (three net) vertical Marcellus Shale wells shut-in pending the activation of the its natural gas processing plant in Butler County, PA which is expected to occur in August 2009. Furthermore, Rex Energy anticipates putting its first horizontal well in Westmoreland County into production during August 2009. Oil production in the second quarter declined 3% from the prior year quarter as the company did not have any rigs active during the current quarter in its Illinois Basin. Rex Energy plans to commence a shallow oil well development program of 10 to 15 wells during the third quarter of 2009.

Capital expenditures in the second quarter of 2009 were $18.2 million. The company spent 62% of capital dollars, or $11.3 million, on exploration and developmental activities of which $500,000 was for its tertiary recovery projects in the Illinois Basin. Leasing and acquisitions comprised the remaining 38%, or $6.9 million, of the company's capital spending during the quarter, which is mostly attributable to the $4.2 million acquisition of a 50% interest from its joint venture partner in certain oil and gas leases covering lands in Butler County, Pennsylvania.

The company currently holds approximately 81,000 gross (70,000 net) acres in the Marcellus Shale fairway. In the event that Williams, Rex Energy's joint venture partner in two of its project areas, fulfills their drilling carry commitment under the terms of the exploration agreement, Rex Energy's net acreage will be reduced to approximately 48,000 net acres. The company is continuing to lease additional acreage in each of its operating areas.

In a final comment, Mr. Hulburt stated, "We have now completed two horizontal Marcellus Shale wells -- the first in Butler County and the second in Westmoreland County. The Butler County horizontal well was drilled to a depth of approximately 5,500 feet with a lateral extension of 1,800 feet. The well was put into production during June 2009 and has produced at an average rate of approximately 2.4 Mmcfe per day over the last thirty days, with no detectable decline in production since being put into line. We are continuing to monitor the well's performance, but to date are encouraged by what appears to be a shallower decline than we initially anticipated. In Westmoreland County, the well was drilled to a depth of approximately 8,200 feet with a lateral extension of 2,000 feet. The well was fracture stimulated on July 20, 2009 and is currently undergoing flow testing. The company has commenced drilling its third horizontal well, also in Westmoreland County, and plans to continue drilling an additional 3 horizontal wells in that county before moving the rig to central Pennsylvania in the fourth quarter."

(EBITDAX and Earnings/Loss Comparable to Analyst Estimates are non-GAAP financial measures. Please see the accompanying definitions and tables for the reconciliation of each of these non-GAAP measures. The company has classified all first quarter 2009 and prior period amounts related to its operations in the Southwestern Region as discontinued operations due to the sale of these assets during the first quarter of 2009. Please see the accompanying table for the reconciliation of the reported GAAP amounts to the amounts that would have been reported if Southwestern Region operations were included in continuing operations.)

About Rex Energy Corporation

Rex Energy Corporation is an independent oil and gas company operating in the Illinois Basin and the Appalachian Basin 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.

The Rex Energy logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5489

Forward-Looking Statements

Except for historical information, statements made in this release, including those relating to significant potential, future earnings, cash flow, capital expenditures, production growth and planned number of wells, 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, adverse economic conditions in the United States and globally; the difficult and adverse conditions in the domestic and global capital and credit markets; domestic and global demand for oil and natural gas; sustained or further declines in the prices the company receives for oil and natural gas adversely affecting operating results and cash flow; the effects of government regulation, permitting and other legal requirements; the quality of Rex Energy's properties with regard to, among other things, the existence of reserves in economic quantities; uncertainties about the estimates of the company's oil and natural gas reserves; the company's ability to increase production and oil and natural gas income through exploration and development; Rex Energy's ability to successfully apply horizontal drilling techniques and tertiary recovery methods; the number of well locations to be drilled, the cost to drill and the time frame within which they will be drilled; drilling and operating risks; the availability of equipment, such as drilling rigs and transportation pipelines; changes in the company's drilling plans and related budgets; and the adequacy of capital resources and liquidity including, but not limited to, access to additional borrowing capacity. 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, which are incorporated by reference.

The company's internal estimates of reserves may be subject to revision and may be different from estimates by the company's external reservoir engineers at year end. Although the company believes the expectations and forecasts reflected in these and other forward-looking statements are reasonable, it can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties.



                          REX ENERGY CORPORATION
                       CONSOLIDATED BALANCE SHEETS
                 ($ in Thousands, Except per Share Amounts)

                                   June 30, 2009
                                    (unaudited)      December 31, 2008
                                 -----------------   -----------------
   ASSETS
 Current Assets
   Cash and Cash Equivalents        $     2,414        $     7,046
   Accounts Receivable                    6,786              5,840
   Related Party Receivable                 506                 --
   Short-Term Derivative
    Instruments                           2,666              8,153
   Current Deferred Tax Asset               948                 --
   Inventory, Prepaid Expenses
    and Other                               798              3,068
                                 -----------------   -----------------
       Total Current Assets              14,118             24,107
 Property and Equipment
  (Successful Efforts Method)
  Evaluated Oil and Gas
   Properties                           196,977            185,108
  Unevaluated Oil and Gas
   Properties                            77,076             65,564
  Other Property and Equipment           19,912             19,388
  Wells and Facilities in
   Progress                              31,225             29,629
  Pipelines                               5,155              3,457
                                 -----------------   -----------------
       Total Property and
        Equipment                       330,345            303,146
  Less: Accumulated
   Depreciation, Depletion and
   Amortization                        (64,859)           (53,288)
                                 -----------------   -----------------
       Net Property and
        Equipment                       265,486            249,858
  Assets Held for Sale                       --             18,852
  Intangible Assets and Other
   Assets- Net                            1,480              1,628
  Investment in RW Gathering                506                 --
  Long-Term Derivative
   Instruments                            2,706              7,561
                                 -----------------   -----------------
 Total Assets                       $   284,296        $   302,006
                                 =================   =================

   LIABILITIES AND EQUITY
 Current Liabilities
   Accounts Payable                 $     5,552        $     7,180
   Accrued Expenses                       4,751              7,388
   Short-Term Derivative
    Instruments                           3,116                 --
   Current Deferred Tax
    Liability                                --              2,785
                                 -----------------   -----------------
       Total Current Liabilities         13,419             17,353

   Senior Secured Line of
    Credit and Long-Term Debt            15,000             15,000
   Long-Term Derivative
    Instruments                           2,783              1,476
   Long-Term Deferred Tax
    Liability                             8,971             11,995
   Other Deposits and
    Liabilities                           5,767              7,322
   Liabilities Related to
    Assets Held for Sale                     --              1,838
   Future Abandonment Cost               15,941             15,174
                                 -----------------   -----------------
 Total Liabilities                  $    61,881        $    70,158
 Commitments and Contingencies
 Owners' Equity
   Common Stock, $.001 par
    value per share,
    100,000,000 shares
    authorized and 36,844,312
    shares issued and
    outstanding on June 30, 2009
    and 36,569,712 shares
    issued and outstanding on
    December 31, 2008                        37                 37
   Additional Paid-In Capital           292,161            291,133
   Accumulated Deficit                 (69,783)           (59,322)
                                 -----------------   -----------------
       Total Owners' Equity             222,415            231,848
                                 -----------------   -----------------
 Total Liabilities and Owners'
  Equity                            $   284,296        $   302,006
                                 =================   =================



                         REX ENERGY CORPORATION
                  CONSOLIDATED STATEMENTS OF OPERATIONS
      (Unaudited, $ and Shares in Thousands, Except per Share Data)


                              Three Months Ended    Six Months Ended
                                   June 30,             June 30,
                              ------------------- -------------------
                                  2009      2008      2009     2008
                              --------- --------- --------- ---------
 OPERATING REVENUE
   Oil and Natural Gas Sales  $  11,516 $  28,874 $  20,314 $  45,490
   Other Revenue                     25        31        57        63
                              --------- --------- --------- ---------
     TOTAL OPERATING REVENUE     11,541    25,905    20,371    45,553

 OPERATING EXPENSES
   Production and Lease
    Operating Expenses            5,236     6,632    10,390    12,778
   General and Administrative
    Expense                       4,392     3,917     8,143     7,124
   (Gain) Loss on Disposal of
    Assets                         (28)       194       400       151
   Exploration Expense of Oil
    and Gas Properties            (247)       982       835     1,281
   Depreciation, Depletion,
    Amortization and
    Accretion                     6,581     4,879    12,752     9,651
                              --------- --------- --------- ---------
     TOTAL OPERATING EXPENSES    15,934    16,604    35,520    30,985
                              --------- --------- --------- ---------

     INCOME (LOSS) FROM
      OPERATIONS                (4,393)     9,301  (12,149)    14,568

 OTHER INCOME (EXPENSE)
   Interest Income                    1       176         2       183
   Interest Expense               (379)     (299)     (774)     (735)
   Loss on Derivatives, Net    (10,520)  (73,640)   (4,876)  (89,920)
   Other Income (Expense)            13        14      (32)        19
                              --------- --------- --------- ---------
     TOTAL OTHER INCOME
      (EXPENSE)                (10,885)  (73,749)   (5,680)  (90,453)

 NET LOSS FROM CONTINUING
  OPERATIONS INCOME TAXES      (15,278)  (64,448)  (17,829)  (75,885)
 Income Tax Benefit               5,841    26,061     7,045    30,687
                              --------- --------- --------- ---------
 NET LOSS FROM CONTINUING
  OPERATIONS                    (9,437)  (38,387)  (10,784)  (45,198)
 Income from Discontinued
  Operations, Net of Income
  Taxes                              --       426       323        64
                              --------- --------- --------- ---------
       NET LOSS               $ (9,437) $(37,961) $(10,461) $(45,134)
                              --------- --------- --------- ---------

 Earnings per common share :
 Basic and Diluted - loss
  from continuing operations  $  (0.26) $  (1.12) $  (0.29) $  (1.39)
 Basic and Diluted - income
  from discontinued
  operations                         --      0.01      0.01        --
                              --------- --------- --------- ---------
 Basic and Diluted - net loss $  (0.26) $  (1.11) $  (0.28) $  (1.39)
 Basic and Diluted - weighted
  average shares of common
  stock outstanding              36,846    34,349    36,789    32,572



                        REX ENERGY CORPORATION
                  CONSOLIDATED OPERATIONAL HIGHLIGHTS
                             (Unaudited)


                              Three Months Ended    Six Months Ended
                                   June 30,             June 30,
                              ------------------- -------------------
                                  2009      2008      2009     2008
                              --------- --------- --------- ---------

 Oil and gas sales
  (in thousands):
  Oil sales                      10,310    22,821    17,530    40,325
  Gas sales                       1,206     3,053     2,784     5,165
  Cash-settled derivatives
   Crude oil(a)                     720   (7,417)     3,983  (10,691)
   Natural gas                      824     (366)     1,333     (374)
                              --------- --------- --------- ---------
     Total oil and gas sales
      including cash settled
      derivatives                13,060    18,061    25,630    34,425


 Production during the
  period:
  Oil (Bbls)                    183,695   189,551   364,878   377,908
  Natural gas (Mcf)             314,777   270,037   621,408   513,588
                              --------- --------- --------- ---------
     Total (BOE)(a)             236,158   234,557   468,446   463,506

 Production - average per
  day:
  Oil (Bbls)                      2,019     2,083     2,016     2,076
  Natural gas (Mcf)               3,459     2,967     3,433     2,822
                              --------- --------- --------- ---------
     Total (BOE)(b)               2,595     2,578     2,588     2,547

 Average price per unit:
  Realized crude oil price
   per barrel - as reported   $   56.12 $  120.40 $   48.04 $  106.71
  Realized impact from cash
   settled derivatives per
   barrel                          3.93   (39.13)     10.92   (28.29)
                              --------- --------- --------- ---------
     Net realized price per
      barrel                  $   60.05 $   81.27 $   58.96 $   78.42

  Realized natural gas price
   per Mcf - as reported      $    3.83 $   11.31 $    4.48 $   10.06
  Realized impact from cash
   settled derivatives
   per Mcf                         2.62    (1.36)      2.15    (0.73)
                              --------- --------- --------- ---------
     Net realized price
      per Mcf                 $    6.45 $    9.95 $    6.63 $    9.33

 (a) Excludes $4.6 million for the early redemption of certain oil
     derivatives associated with 2011 redeemed in the first quarter
     of 2009

 (b) Natural gas is converted at the rate of six Mcf to one BOE and
     oil is converted at a rate of one Bbl to one BOE



                         REX ENERGY CORPORATION
                        OIL AND GAS DERIVATIVES
                              (Unaudited)


                               % of Current   Average      Average
       Year         Volume      Production     Floor       Ceiling
   ------------  ------------  ------------ ------------ ------------



       Oil
       ---
   July - Dec
      '09          300 MBbls        84%        $ 63.78     $  76.44

       2010        588 MBbls        85%        $ 62.71     $  79.31

       2011        156 MBbls        24%        $ 65.00     $ 100.50


   Natural Gas
   -----------
   July - Dec
      '09          660 Mmcf         90%        $  6.73     $   8.47

       2010        1.32 Bcf        100%        $  7.14     $   9.63

       2011        1.08 Bcf         91%        $  7.33     $  12.29

       2012        360 Mmcf         34%        $  6.00     $   7.38

Non-GAAP Financial Measures

EBITDAX

"EBITDAX", for any defined period, the sum of net income for such period plus the following expenses, charges or income to the extent deducted from or added to net income in such period: interest, income taxes, depreciation, depletion, amortization, accretion, unrealized losses from financial derivatives, exploration expenses, and other similar non-cash charges, minus all non-cash income, including but not limited to, income from unrealized financial derivatives, added to net income. EBITDAX, as defined above, is used as a financial measure by Rex Energy's management team and by other users of its financial statements, such as the company's commercial bank lenders, to analyze such things as:



  * Rex Energy's operating performance and return on capital in
    comparison to those of other companies in its industry, without
    regard to financial or capital structure;
  * The financial performance of the company's assets and valuation
    of the entity, without regard to financing methods, capital
    structure or historical cost basis;
  * Rex Energy's ability to generate cash sufficient to pay interest
    costs, support its indebtedness and make cash distributions to its
    stockholders; and
  * The viability of acquisitions and capital expenditure projects and
    the overall rates or return on alternative investment opportunities

EBITDAX is not a calculation based on GAAP financial measures and should not be considered as an alternative to net income (loss) in measuring the company's performance, nor used as an exclusive measure of cash flow, because it does not consider the impact of working capital growth, capital expenditures, debt principal reductions, and other sources and uses of cash, which are disclosed in the company's statements of cash flows.

Rex Energy has reported EBITDAX because it is a financial measure used by its existing commercial lenders, and because this measure is commonly reported and widely used by investors as an indicator of a company's operating performance and ability to incur and service debt. You should carefully consider the specific items included in the company's computations of EBITDAX. While Rex Energy has disclosed its EBITDAX to permit a more complete comparative analysis of its operating performance and debt servicing ability relative to other companies, you are cautioned that EBITDAX as reported by the company may not be comparable in all instances to EBITDAX as reported by other companies. EBITDAX amounts may not by fully available for management's discretionary use, due to requirements to conserve funds for capital expenditures, debt service and other commitments.

Rex Energy believes that EBITDAX assists its lenders and investors in comparing a company's performance on a consistent basis without regard to certain expenses, which can vary significantly depending upon accounting methods. Because the company may borrow money to finance its operations, interest expense is a necessary element of its costs and ability to generate cash available for distribution. Because Rex Energy uses capital assets, depreciation and amortization are also necessary elements of its costs. Additionally, the company is required to pay federal and state taxes, which are necessary elements of its costs. Therefore, any measures that exclude these elements have material limitations.

To compensate for these limitations, Rex Energy believes it is important to consider both net income (loss) determined under GAAP and EBITDAX to evaluate its performance.

The following table presents a reconciliation of the company's net (loss) from continuing operations to its EBITDAX from continuing operations for each of the periods presented ($ in thousands):



                             Three Months Ended     Six Months Ended
                                   June 30,             June 30,
                             -------------------   -------------------
                               2009       2008       2009       2008
                             --------   --------   --------   --------
 Net Loss From Continuing
  Operations                 $ (9,437)  $(38,387)  $(10,784)  $(45,198)
  Add Back Depletion,
   Depreciation,
   Amortization &
   Accretion                    6,581      4,879     12,752      9,651
  Add Back Non-Cash
   Compensation Expense           621        736      1,096      1,104
  Add Back Interest Expense       379        299        774        735
  Add Back (Less) Exploration    (247)       982        835      1,281
  Less Interest Income             (1)      (176)        (2)      (183)
  Add Back (Gains) Losses
   on Disposal of Assets          (28)       194        400        151
  Add Back Unrealized Losses
   from Financial Derivatives  12,064     65,857     14,764     78,856
  Less Income Tax Benefit      (5,841)   (26,061)    (7,045)   (30,687)
                             --------   --------   --------   --------

 EBITDAX From Continuing
  Operations                 $  4,091   $  8,323   $ 12,790   $ 15,710

Earnings Comparable with Analyst Estimates

"Earnings Comparable with Analyst Estimates" means, for any period, the sum of net income for such period plus the following expenses, charges or income to the extent deducted from or added to net income in such period: deferred income taxes, unrealized gains or losses from financial derivatives, minus gains from unrealized financial derivatives, minus deferred income tax benefits, added to net income. Earnings Comparable with Analyst Estimates, as defined above, is used as a financial measure by Rex Energy's management team and by other users of its financial statements, to analyze its financial performance without regard to non-cash deferred taxes and non-cash unrealized losses or gains from oil and gas derivatives. Earnings Comparable with Analyst Estimates is not a calculation based on GAAP financial measures and should not be considered as an alternative to net income (loss) in measuring the company's performance.

Rex Energy has reported Earnings Comparable with Analyst Estimates because it believes that this measure is commonly reported and widely used by investors as an indicator of a company's operating performance. You should carefully consider the specific items included in the company's computation of this measure. You are cautioned that Earning Comparable with Analyst Estimates as report by Rex Energy may not be comparable in all instances to that reported by other companies.

To compensate for these limitations, the company believes it is important to consider both net income determined under GAAP and Earnings Comparable with Analyst Estimates.

The following table presents a reconciliation of Rex Energy's net (loss) from continuing operations to its Earnings Comparable with Analyst Estimates for each of the periods presented ($ in thousands):



                             Three Months Ended     Six Months Ended
                                   June 30,              June 30,
                             -----------------------------------------
                               2009       2008       2009        2008
                             --------   -------------------   --------

 Net Loss From Continuing
  Operations                 $ (9,437)  $(38,387)  $(10,784)  $(45,198)
 Adjustment for certain
  non-cash items:

  Unrealized Losses on
   Derivatives                 12,064     65,857     14,764     78,856
  Dry Hole Expense                 --          1         --          2
  Non-cash Compensation
   Expense                        621        736      1,096      1,104
  (Gain) Loss on Sale or
    Disposal of Assets            (28)       194        400        151
  Income Tax Benefit           (5,841)   (26,061)    (7,045)   (30,687)
                             --------   --------   --------   --------
 Net Income (Loss)  From
  Continuing Operations
  Before Income Taxes
  Comparable to Analysts
  Estimates                  $ (2,621)  $  2,340   $ (1,569)  $  4,228

Discontinued Operations

On March 24, 2009, Rex Energy completed the previously announced divestiture of Southwestern Region operations, predominately located in the Permian Basin in the states of Texas and New Mexico. The company received net cash proceeds of approximately $17.3 million, which may be adjusted by certain post-closing adjustments, plus the assumption of certain liabilities, based on an effective date of October 1, 2008.

Pursuant to accounting rules for discontinued operations, these assets were classified as Assets Held for Sale on the Consolidated Balance Sheet as of December 31, 2008, and results of operations are reflected in discontinued operations in the Consolidated Statements of Operations. At March 31, 2009, Rex Energy recorded a loss on sale of assets of approximately $425,000 in the Consolidated Statement of Operations. Summarized financial information for discontinued operations is set forth below ($ in thousands, except per share data):



                                Three Months Ended    Six Months Ended
                                     June 30,            June 30,
                                 -----------------   -----------------
                                   2009     2008      2009     2008
                                 -------   -------   -------   -------
 Revenues:
  Oil and Gas Sales              $    --   $ 2,122   $   193   $ 4,107
  Other Revenue                       --       111        --       193
                                 -------   -------   -------   -------
   Total Operating Revenue            --     2,233       193     4,300
                                 -------   -------   -------   -------

 Costs and Expenses:
  Production and Lease
   Operating Expense                  --       617       237     1,139
  General and Administrative
   Expense                            --       207       (97)      473
  Exploration Expense of Oil
   and Gas Properties                 --       (13)       --     1,121
  Depreciation, Depletion,
   Amortization and Accretion         --       709        --     1,420
  (Gain) Loss on Sale of Oil
   and Gas Properties                 --        --        --        41
  Unrealized Loss from
   Derivatives                        --        --      (558)       --
  Other Income                        --        (1)       --        (2)
                                 -------   -------   -------   -------
   Total Costs and Expenses           --     1,519      (418)    4,192
                                 -------   -------   -------   -------
 Income from Discontinued
  Operations Before Income
  Taxes                               --       714       611       108

  Income Tax Expense                  --       288       288        44
                                 -------   -------   -------   -------
 Income From Discontinued
  Operations, net of taxes       $    --   $   426   $   323   $    64
                                 =======   =======   =======   =======

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Rex Energy Corporation

Rex Energy Corporation
          Julia Williams, Investor Relations Coordinator 
          (814) 278-7130
          jwilliams@rexenergycorp.com

(C) Copyright 2009 GlobeNewswire, Inc. All rights reserved.

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