Industry | Petroleum industry |
---|---|
Founded | March 8, 2007 |
Defunct | August 30, 2018 |
Fate | Acquired by PennEnergy Resources |
Headquarters | State College, Pennsylvania |
Key people | Lance T. Shaner, Chairman Thomas C. Stabley, CEO Thomas G. Rajan, CFO |
Products | Natural gas Natural gas liquids |
Production output | 195 million cubic feet of natural gas equivalent per day (2016) |
Revenue | $0.139 billion (2016) |
-$0.176 billion (2016) | |
Total assets | $0.893 billion (2016) |
Total equity | $0.10 billion (2016) |
Number of employees | 104 (2016) |
Footnotes /references [1] |
Rex Energy Corporation was a natural gas exploration and production company headquartered in State College, Pennsylvania. In 2018, the company was acquired by PennEnergy Resources.
The company's operations were entirely in the Appalachian Basin, in the Marcellus Shale, Utica Shale, and the Burkett Shale. The company primarily extracted resources using hydraulic fracturing. As of December 31, 2016, the company had 108 million barrels of oil equivalent (660,000,000 GJ) of estimated proved reserves, of which 56.8% was natural gas, 41.5% was natural gas liquids, and 1.7% was natural-gas condensate. In 2016, the company's production was 195 million cubic feet of natural gas equivalent per day. [1]
The company was founded in March 2007.
In July 2007, the company became a public company via an initial public offering. [2]
In August 2010, the company entered into a $140 million joint venture with Sumitomo Corporation. [3]
In May 2012, the company sold its interests in two cryogenic gas processing plants for $120 million. [4]
In August 2014, the company acquired assets from Royal Dutch Shell for $120 million. [5] [6]
In June 2015, the company sold its water services subsidiary, Keystone Clearwater Solutions, to American Water Works for $130 million. [7] [8]
In August 2016, the company sold assets in the Illinois Basin for $40 million. [9] [10]
In January 2017, the company sold assets in the Utica Shale to Antero Resources for $30 million. [11] [12]
In May 2018, Rex Energy filed for bankruptcy. [13]
In August 2018, the assets of the company were acquired by PennEnergy Resources. [14]
Ovintiv Inc., formerly Encana Corporation, is a hydrocarbon exploration and production company organized in Delaware and headquartered in Denver, United States. It was founded and headquartered in Calgary, Alberta, and was the largest energy company and largest natural gas producer in Canada. The company was rebranded as Ovintiv and relocated to Denver in 2019–20.
Devon Energy Corporation is an American energy company engaged in hydrocarbon exploration in the American market. It is organized in Delaware and its corporate operative headquarters are in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its primary operations are in the Barnett Shale, STACK Formation in Oklahoma, Delaware Basin, Eagle Ford Group shale, and the Rocky Mountains.
Anadarko Petroleum Corporation was a company engaged in hydrocarbon exploration. It was organized in Delaware and headquartered in two skyscrapers in The Woodlands, Texas: the Allison Tower and the Hackett Tower, both named after former CEOs of the company. In 2019, the company was acquired by Occidental Petroleum.
Energen Corporation was a company engaged in hydrocarbon exploration. In 2018, the company was acquired by Diamondback Energy.
EOG Resources, Inc. is an American energy company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in the Heritage Plaza building in Houston, Texas.
EQT Corporation is an American energy company engaged in hydrocarbon exploration and pipeline transport. It is headquartered in EQT Plaza in Pittsburgh, Pennsylvania.
Noble Energy, Inc. was a company engaged in hydrocarbon exploration headquartered in Houston, Texas. In October 2020, the company was acquired by Chevron Corporation.
Pioneer Natural Resources Company is an American company engaged in hydrocarbon exploration headquartered in Irving, Texas. It operates in the Cline Shale, which is part of the Spraberry Trend of the Permian Basin, where the company is the largest acreage holder.
The Utica Shale is a stratigraphical unit of Upper Ordovician age in the Appalachian Basin. It underlies much of the northeastern United States and adjacent parts of Canada.
Newfield Exploration Company was a petroleum, natural gas, and natural gas liquids exploration and production company organized in Delaware and headquartered in Houston, Texas. In February 2019, the company was acquired by Encana.
The inclusion of shale gas with conventional gas reserves has caused a sharp increase in estimated recoverable natural gas in Canada. Until the 1990s success of hydraulic fracturing in the Barnett Shales of north Texas, shale gas was classed as "unconventional reserves" and was considered too expensive to recover. There are a number of prospective shale gas deposits in various stages of exploration and exploitation across the country, from British Columbia to Nova Scotia.
Southwestern Energy is a natural gas exploration and production company organized in Delaware and headquartered in Spring, Texas. The company is ranked 776th on the Fortune 500.
Range Resources Corporation is a petroleum and natural gas exploration and production company organized in Delaware and headquartered in Fort Worth, Texas. It is one of the largest exploration companies operating in the Marcellus Formation.
Linn Energy, Inc. was a company engaged in hydrocarbon exploration. It was incorporated in Delaware and headquartered in Houston. In 2018, the company split into Roan Resources and Riviera Resources.
WPX Energy, Inc. was a company engaged in hydrocarbon exploration. It was organized in Delaware and headquartered in Tulsa, Oklahoma. In 2021, the company was acquired by Devon Energy.
Whiting Petroleum Corporation is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado.
American Energy Partners, LP, also known as AELP, was an American natural gas and oil company founded in April 2013 by Aubrey K. McClendon. The company managed affiliates responsible for natural shale gas and oil production and exploration in the United States, as well as management of assets, minerals, royalties and nonoperated properties. It was headquartered in Oklahoma City, Oklahoma, and employed over 450 people as of August 2015. AELP announced on May 18th, 2016, two months after McClendon's death, it would end operations and close by the end of summer 2016.
Antero Resources Corporation is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado. The company's reserves are entirely in the Appalachian Basin and are extracted using hydraulic fracturing.
Diamondback Energy is an American company engaged in hydrocarbon exploration headquartered in Midland, Texas.
CNX Resources Corporation is a natural gas company based in Pittsburgh. The company was known as Consol Energy until separating into CNX and Consol Energy (coal) in 2017.