Rex Energy 8-K This document contains forward-looking statements. All statements other than statements of historical facts

Corporate Presentation

June 22, 2009

Exhibit 99.1

Forward Looking Statements

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2

This document contains forward-looking statements. All statements other than statements of historical facts

included in this document, including but not limited to, statements regarding our future financial position,

business strategy, budgets, projected costs, savings and plans and objectives of management for future

operations, are forward-looking statements. Forward-looking statements generally can be identified by the use

of

forward-looking

terminology

such

as

“may,”

“will,”

“expect,”

“intend,”

“estimate,”

“anticipate,”

“believe”

or

“continue”

or the negative thereof or variations thereon or similar terminology. These forward-looking

statements are subject to numerous assumptions, risks and uncertainties. Factors which may cause our actual

results, performance or achievements to be materially different from any future results, performance or

achievements expressed or implied by us in those statements include, among others, (i) the deteriorating

economic conditions in the United States and globally, (ii) the difficult and adverse conditions in the domestic

and

global

capital

and

credit

markets,

(iii)

domestic

and

global

demand

for

oil

and

natural

gas,

(iv)

sustained

or

further declines in the prices we receive for our oil and natural gas adversely affecting our operating results and

cash flow, (v) the effects of government regulation, permitting and other legal requirements, (vi) the quality of

our

properties

with

regard

to,

among

other

things,

the

existence

of

reserves

in

economic

quantities,

(vii)

uncertainties about the estimates of our oil and natural gas reserves, (viii) our ability to increase our production

and oil and natural gas income through exploration and development, (ix) our ability to successfully apply

horizontal drilling techniques and tertiary recovery methods, (x) the number of well locations to be drilled, the

cost to drill and the time frame within they will be drilled, (xi) drilling and operating risks, (xii) the availability of

equipment, such as drilling rigs and transportation pipelines, (xiii) changes in our drilling plans and related

budgets and (xiv) the adequacy of our capital resources and liquidity including, but not limited to, access to

additional borrowing capacity. Because such statements are subject to risks and uncertainties, actual results

may differ materially from those expressed or implied by the forward-looking statements. You are cautioned not

to place undue reliance on such statements, which speak only as of the date of this document. Unless otherwise

required by law, we undertake no obligation to publicly update or revise any forward-looking statements,

whether as a result of new information, future events or otherwise.

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3

Rex Energy Overview

•

Market Cap

(1)

: $215.6 million

•

Total Debt

(2)

: $5 million

•

Cash on Hand

(2)

: $4 million

•

Proven Reserve Base

(3)

:

11.0 MMBOE (65.9 Bcfe)

53% oil

65% proved developed

•

Average Daily Production

(2)

:

2,579 BOE (78% oil)

1. Based on closing price on June 18, 2009 of $5.85 and 36,851,562 shares outstanding.

2. As of first quarter 2009.

3. As of December 31, 2008. Does not include Southwestern Region.

4. 44,000 net acres subject to 50% reduction in the event Williams fulfills its obligations under the participation and exploration

agreement

Lawrence Field

ASP Flood

Project

~78,000 gross

(69,150 net)

(4)

Marcellus Shale

“Fairway”

acres

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4

Current Hedging Summary

Year

Volume

% of Current Avg.

Production

(1)

Average Floor

Average Ceiling

Crude Oil

July –

Dec ‘09

300 MBbls

83%

$63.78

$75.75

2010

588 MBbls

85%

$62.71

$79.31

2011

156 MBbls

23%

$65.00

$100.50

Natural Gas

July –

Dec ‘09

660 MMcf

108%

$6.73

$8.46

2010

1.32 Bcf

120%

$7.14

$9.63

2011

1.08 Bcf

109%

$7.33

$12.29

2012

360 MMcf

40%

$6.00

$7.36

1. Based on first quarter 2009 average monthly production

Historical Highlights

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5

Production

460

664

901

949

0

200

400

600

800

1,000

2005

2006

2007

2008

Revenue

20.1

34.5

52.0

68.0

$0

$20

$40

$60

$80

2005

2006

2007

2008

EBITDAX

6.3

14.7

22.1

29.1

$0

$5

$10

$15

$20

$25

$30

$35

2005

2006

2007

2008

Proved Reserves

7.1

12.5

14.1

11.0

0.0

2.0

10.0

16.0

2005

2006

2007

2008

$10

$30

$50

$70

4.0

6.0

8.0

12.0

14.0

Updated Capital Budget

$41 Million Capital Budget for 2009

Approximately 72% allocated to Marcellus Shale

•

Entered

into

join

venture

“drill

to

earn”

deal

with

Williams

Companies

in

Westmoreland & Clearfield areas

•

Drilling 8 gross Westmoreland and Clearfield County horizontal wells with 1

well already completed in Butler County

•

Continue to expand acreage and infrastructure to support Marcellus Shale

exploration

Approximately 28% allocated to Illinois Basin

•

Drill 5-10 conventional, shallow oil wells drilled or recompleted

•

Continue development of ASP Flood Project

Design

the

first

full

scale

Bridgeport

ASP

Flood

unit

with

plans

to

commence injection in 2010

Test the effectiveness of colloidal gel in the Cyprus formation in

conjunction with traditional water-flooding

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Strong Capital Structure

Peers

include:

AEZ,

AREX,

ATPG,

BEXP,

BRY,

CFW,

CPE,

CRZO,

CWEI,

DBLE,

DPTR,

GDP,

GMET,

GMXR,

ME,

NGAS,

PETD, PLLL, PQ, RAME, SFY, SGY, TEC, TXCO, VQ, WRES

Debt to Market Capitalization

0%

50%

100%

150%

200%

250%

300%

350%

400%

450%

500%

550%

600%

Median: 196%

Marcellus Shale Overview

•

Acreage

Approximately 78,000 gross (69,150 net)

(1)

acres in areas of active Marcellus Shale exploration in Pennsylvania

Approximately 13% of acreage is held by production

High

percentage

of

undeveloped

acreage

has

~5

years

remaining

on

primary

term

•

Schlumberger Data & Consulting Services Reserve Evaluation

~951

Bcfe

of

proved,

probable

&

possible

reserves

(16.4

Bcfe

proved)

•

Vertical Wells

Completed 5 vertical wells to date

Achieved a 1.8 MMcf/day initial rate on most recent

•

Horizontal Wells

First horizontal well complete

Second horizontal well awaiting completion

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8

1. 44,000 net acres subject to 50% reduction in the event Williams fulfills its obligations under the participation and exploration

agreement

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9

Leverage to the Marcellus Shale

With 69,150

(1)

Net

“Fairway”

acres, Rex

Energy has a greater

proportion of

Marcellus Shale

acres in relation to

its size than most all

of its peers

(2)

in the

play.

1.

44,000 net acres subject to 50% reduction in the event Williams fulfills its obligations under the participation and exploration

agreement

2.

Marcellus Peers include: ATN, CHK, CXG, COG, CRZO, EOG, EQT, NFG, RRC, SGY, SWN, XCO, XTO

Net Marcellus Acres per $1 MM Market

0

50

100

150

200

250

300

350

Capitalization

Joint Venture with Williams

Rex Energy entered into a joint venture with Williams Appalachia, a wholly owned

subsidiary

of

the

Williams

Companies,

to

jointly

develop

certain

areas

of

Rex

Energy’s

Marcellus Shale properties

Williams can acquire a 50% interest in approximately 44,000 gross (44,000 net)

acres in Westmoreland, Clearfield and Centre County, Pennsylvania subject to its

fulfillment of its carry obligations

Acreage valued at $1,500 per net acre

Williams will bear 90% of all drilling and completion costs in the project areas

until it has invested approximately $74 million

•

$33 million on behalf of Rex Energy

•

$41

million

for

Williams’

50%

share

of

the

wells

•

Williams must fund the carry prior to December 31, 2011 or make a cash payment to Rex

Energy for remaining balance

•

Williams may terminate the agreement after drilling minimum of 10 horizontal wells by

paying 40% of the remaining carry balance in cash

Pipeline, gathering & geophysical expenses to be paid 50/50

Each party can participate for 50% in future lease acquisitions within the area of

mutual interest boundaries

Rex Energy will operate though 2009 and Williams will operate thereafter

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Marcellus Shale Overview

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11

Range Resources

Atlas Energy

CNX Gas

XTO Energy

Exco

Resources

Anadarko

Carrizzo

Chesapeake

Range Resources

Chief

Cabot

Phillips

Butler

•

~21,250 Net

Acres

•

2 Verticals

Completed

(~775 Mcfd

IP)

•

~ 5,000 ft. deep

•

~75 ft. thick

Fayette

•

~4,150 Net Acres

•

Majority of Acreage is

HBP’d

•

~7,500 ft. deep

•

~ 125 –

135 ft. thick

Westmoreland

•

~15,450 Net Acres*

•3 Verticals Completed

•

1.8 MMcfd

IP 

•

~8,000 ft. deep

•

~ 135 –

165 ft. thick

Clearfield/Centre

•

~28,300 Net Acres*

•

~8,800 ft. deep

•

~ 150 –

300 ft. thick

Marcellus Shale

Rex Energy Areas

East Resources

EOG/NFG

* Net acreage subject to 50% reduction in the event Williams fulfills its obligations under the participation and

exploration agreement

Marcellus Shale Gas Marketing

•

Butler County

Phase I of processing plant completed and awaiting final permit

•

3 –

5 MMcfd

initial capacity with ability to scale up to 25 MMcfd

Dominion line

•

Tap in place for initial capacity of up to 20 MMcfd

•

Approximately 1 mile from acreage

•

Westmoreland County

Dry Gas/ Treatment Plant Not Required

Dominion/Peoples Line

•

2 Taps in place with up to 18 MMcfd

capacity

Equitrans

line

•

Approximately 4 miles from acreage

•

Installing 2 taps with up to 8 MMcfd

capacity each

Texas Eastern line

•

Approximately 8 miles from acreage

•

Rights of way in place for future capacity needs

•

Clearfield/Centre County

Dry Gas/ Treatment Plant Not Required

Columbia 1711 line

•

Approximately 1 mile from acreage

•

Tap site secured. Tap being installed 3

quarter 2009  with up to 50 MMcfd

initial capacity

Dominion line

•

Approximately 12 miles from acreage for additional future capacity needs

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12

rd

2009 Marcellus Drilling

•

Drill

6-8

horizontal

wells

2,500 –

3,000 foot laterals

5 –

8 stage completions

•

Union Drilling Fit-for-Purpose Rig

Delivered

•

First horizontal well in Butler County,

PA complete

•

In Westmoreland County, second

horizontal well awaiting completion

Plan to drill 5 wells in 2009 in

Westmoreland County

•

Finish in Clearfield County late second

half of 2009

•

Drilling permits in hand for 2009

program

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13

1. Does not represent proven reserves.  Our results may vary significantly.

2. Assumes 160 acres at $2,000 per acre.

14

Conceptual Marcellus Economics

(1)

Assumptions:

•Horizontal Well

•Working Interest: 100%

•Revenue Interest: 84%

•D&C Cost: $4.0 MM

•Lease Costs: $320,000

(2)

•Lift Costs: $3,000/mo

•Type Curve: Hyperbolic

(Barnett Type)

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14

Illinois Basin Operations

•

Largest oil producer in the Illinois

Basin

•

Drilling success rates of greater than

99% in numerous shallow pay zones

•

Tertiary recovery potential with Alkali-

Surfactant-Polymer

flooding

•

Inventory of 175 gross (174 net) PUD

& PDNP locations with multiple non-

proved offset locations

Average Well Depth: 1,500 feet

Average Well Cost: $180,000

Average IP Rate: 15 –

30 Bbls/day

Average Net Reserves per Well:

11,900 BBls

Average F&D Costs: $15.00/Bbl

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15

Lawrence Field ASP Project

•

Discovered in 1906, the Lawrence Field is believed to have original oil in place of approximately one

billion

barrels.

The

field

has

the

largest

cumulative

production

in

the

State

of

Illinois,

totaling

over

400

MMBbls.

•

The

Cypress

formation

has

yielded

an

estimated

200

MMBbls

in

the

Lawrence

Field.

The

Bridgeport

formation is Pennsylvanian in age and has yielded an estimated 140 MMBbls.

•

There have been two successful Surfactant-Polymer pilot tests in the field to date done by Marathon in

the 1970s and 1980s (one each in the Cypress and Bridgeport zones).

•

In 2007-2008 Rex Energy completed 26 core-flood tests with ASP chemicals from cores taken in the

Lawrence

Field

which

achieved

recoveries

of

up

to

21%

and

24%

of

the

original

oil

in

place

in

the

Cypress and Bridgeport Sandstones respectively.

•

During 2008, Rex Energy completed construction of an ASP injection plant in the Lawrence Field and

commenced ASP injection operations in May 2008 on two pilot 3.6 acre tests (Bridgeport and Cypress

Sandstones).

•

Based on detailed geological mapping and ASP core studies done in the field, Netherland Sewell &

Associates has identified 27 units with ~39

MMBbls

in potential reserves recoverable through ASP

flooding in only the northern and central portion of the field

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16

17

Robins Surfactant-Polymer Pilot

•

In 1982, Marathon began a

25-acre, surfactant-

polymer pilot on the Robins

Lease in the Lawrence Field

•

The project produced an

estimated 450,000

incremental barrels from

25-acres within the 13,500

acres of the Lawrence Field

•

During the 6 year period of

chemical injection, the

production rose from 7

Bbl/day to 370 Bbl/day and

the oil cut increased from

1% to ~23%

•

The project recovered an

incremental 21% of the

original oil in place

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Oil Production & Oil Cut Plot

of Robins 102-B 25-Acre Surfactant-Polymer Pilot

17

18

Rex Energy ASP Pilots

•

Bridgeport Sandstone Pilot (3.6 acres)

Chemical injection commenced May 1, 2008

Analysis indicates up to 80% of the residual oil

was swept through the ASP process

Highest recorded oil cut to date achieved by any

well in the pilot was ~15%

Oil production rose from ~1 barrel per day to a

peak of ~65 barrels per day

•

Cypress Sandstone Pilot (3.6 acres)

Chemical Injection commenced May 1, 2008

Analysis indicates reservoir heterogeneity

adversely effected sweep efficiency

Highest recorded oil cut to date achieved by any

well in the pilot was ~20%

Oil production rose from ~2 barrel per day to a

peak of ~28 barrels per day

Sweep efficiency continues to improve when

polymer only phase commenced in December

2008

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18

19

Lawrence Field ASP Potential

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19

•

Throughout 2008, Rex Energy worked with

Netherland Sewell & Associates to build a three

dimensional geological model of the Lawrence

Field. 

•

Analysis completed by NSAI has identified 18

target sandbodies

of

significant size in Lawrence

field:

9 sandbodies

with Bridgeport A & B

9 sandbodies

within Upper & Middle Cypress

•

Southern portion of the field is currently under

evaluation

•

Sandbodies

have a minimum area of 60 acres and

a minimum net thickness of 15’

•

18 sandbodies

are broken down into 27 separate

Floods:

15 within Bridgeport A & B

12 within Middle and Lower Cypress

20

NSAI Identified Lawrence Field ASP Floods

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20

Unit Name

Sandstone

Area (acres)

Pore Volume (res bbl)

Oil Recovery (bbl)

(1)

ASP -

Brg

B Sect 5

Bridgeport

500

30,543,246

3,869,829

ASP -

Brg

A Sect 32

Bridgeport

126

6,322,770

801,095

ASP -

Brg

A NLU NW

Bridgeport

354

16,654,487

2,110,123

ASP -

Brg

A NLU NE

Bridgeport

354

16,654,487

2,110,123

ASP -

Brg

A NLU SW

Bridgeport

354

16,654,487

2,110,123

ASP -

Brg A NLU SE

Bridgeport

354

16,654,487

2,110,123

ASP -

Brg B Sect 18N

Bridgeport

475

16,536,177

2,095,134

ASP -

Brg

B Sect 18S

Bridgeport

475

16,536,177

2,095,134

ASP -

Brg

B Sect 30

Bridgeport

134

4,608,252

583,866

ASP -

Brg

B Sect 32

Bridgeport

351

12,707,604

1,610,053

ASP -

Brg B Sect 31

Bridgeport

403

10,768,104

1,364,319

ASP -

Brg B Sect 19S

Bridgeport

178

4,367,754

553,394

ASP -

Brg B Sect 19N

Bridgeport

274

6,555,510

830,583

ASP -

Brg B Sect 29

Bridgeport

160

3,506,616

444,288

ASP -

Brg B Sect 12

Bridgeport

242

3,661,776

463,947

ASP -

MCyp Sect 32

Cypress

147

5,438,358

689,040

ASP -

Mcyp Sect 29

Cypress

251

9,294,084

1,177,560

ASP -

MCyp NLU N 

Cypress

437

16,448,900

2,084,076

ASP -

MCyp NLU S

Cypress

437

16,448,900

2,084,076

ASP -

MCyp NLU W

Cypress

437

16,448,900

2,084,076

ASP -

MCyp NLU E

Cypress

437

16,448,900

2,084,076

ASP -

MCyp Sect 31

Cypress

73

2,583,414

327,319

ASP -

MCyp Team N

Cypress

289

10,038,852

1,271,923

ASP -

MCyp Sect 18

Cypress

353

12,117,996

1,535,350

ASP -

MCyp Sect 8

Cypress

104

3,180,780

403,005

ASP -

MCyp Team S

Cypress

60

1,768,824

224,110

ASP -

LCyp 1

Cypress

430

18,122,688

2,296,145

8,189

311,072,530

39,412,890

•

Oil Recovery assumes

12.7% PV recovery

•

Estimated F&D Costs:

~$30/Bbl

•

Estimated IRR at

$50/Bbl: 28%

•

Northern and central

portion of the field

only; Southern region is

currently under

evaluation

1. Assumes 12.7% PV recovery from ASP flooding.  Does not represent proven reserves.

21

Initial Bridgeport Unit

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21

•

The company is in the process of designing

the first operational ASP unit in the

Bridgeport Sandstone  to commence

chemical injection during the first half of

2010

•

The initial unit is smaller than future units to

reduce capital required, while still large

enough to show the potential for the field

•

Anticipated Unit Characteristics:

Flood Area: 33 acres initially, expandable into

140 acres after initial results are analyzed

Staggered line drive pattern with 6 Injector

wells and 3 producing wells

3.6 acre well spacing

Capital Investment: $2.5 million

Operating Expenses: $4,000/month

Base Case Recovery Factor Assumed: 12.7% PV

Peak Production: 270 Bbls per day

Time to Peak Production: 10 months from

commencement

1. Assumes 12.7% PV recovery from ASP flooding.  Does not represent proven reserves.

Oil Price

IRR

Payout

(Mos)

Recovered

Bbls

$50

28%

21

82,000

$60

63%

18

82,000

$75

118%

16

82,000

Base Case Anticipated Economics:

Why Invest in Rex Energy?

•

Significant Growth Opportunities:

Marcellus Shale

•

69,150 net “Fairway”

acres

(1)

•

~935 Bcfe

in probable & possible reserves at year-end 2008

Lawrence Field ASP Flood potential

•

~39 million barrels in potential reserves in northern & central portions of field

•

Southern portion of the field still under evaluation

Low risk developmental drilling inventory

•

Strong Financial Position:

$5 million in debt drawn on line of credit with $80 million borrowing base as of

March 31, 2009

Strong hedging position with 90% current production hedged through 2010

$4 million in cash on hand as of March 31, 2009

Carried interest in Marcellus wells into to significant project areas

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22

1. 44,000 net acres subject to 50% reduction in the event Williams fulfills its obligations under the participation and

exploration agreement