Colorado

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.

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.

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