By OGJ editors
HOUSTON, June 4 – Rex Energy Corp., State College, Pa., said it has leased or taken farmouts on 20,000 net acres to explore for oil in Cretaceous Niobrara shale in the Denver-Julesburg basin.
The company expects to spud the first of two horizontal wells in the third quarter of 2010. The leases, which averaged $215/net acre, are in Weld County, Colo., and Laramie County, Wyo. The company continues to lease.