Rex Energy Drills First Utica Shale Well in W. Pa.

Bloomberg reported that Rex Energy (NASDAQ:REXX) has completed a Utica Shale natural gas well in western Pennsylvania and has received positive results.

As quoted in the market news:

The Utica Shale is a mineral formation that lies below the Marcellus Shale, thousands of feet underground. Some gas drilling companies believe the Utica formation may be productive in Pennsylvania but they haven’t had much proof.

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