Posts for Ticker ‘REXX’

Cramer’s Oil & Gas Wildcatting Week (HK, REXX, BZP, RRC, RAME)

This week on CNBC’s "MAD MONEY," Jim Cramer had another one of those "one pick per night" features.  This week’s special feature wasn’t just oil, it was wildcatting.  Yep, drill a hole in the ground and see what happens.  In his version of the wildcatting climate, it is now highly profitable because oil prices are incredibly high and the costs are easy to recoup.  Here are his picks in the sector chronologically, and the "gain" posted here is on the "day after move" rather than for the week:

  • Monday… Petrohawk Energy Corp. (NYSE: HK) -4.1%
  • Tuesday… Rex Energy Corp. (NASDAQ: REXX) +6.2%
  • Wednesday… BPZ Resources, Inc. (NYSE: BZP) +7.4%
  • Thursday… Range Resources Corp. (NYSE: RRC) -1.1%
  • Friday… RAM Energy Resources, Inc. (NASDAQ: RAME) +10% (in after-hours trading on Friday after he touted it)

Enjoy your weekend, and if there used to be an oil well that was drilled dry or if there have been any oil discoveries within about 20 or 30 miles of your property it might be worth calling one of these companies……

Jon C. Ogg
June 13, 2008

Posted on: June 13, 2008 – 5:23 pm in Cramer, Oil & Gas, , , , ,

Rex Energy Files For Secondary (REXX)

Rex Energy Corporation (NASDAQ: REXX) has filed with the SEC for a secondary offering of 8 million shares today.  KeyBanc Capital Markets is listed as the sole selling agent.

As far as the use of proceeds, 4 million shares will be sold by existing shareholders and 4 million shares will be sold by the company.  After the overallotment, if used, the proposed offering based on a recent close would be $128 million, which compares to a market cap of $575 million.

Rex is an independent oil and gas company operating in the Illinois Basin, the Appalachian Basin, and the Southwestern Region of the United States.

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Since coming public, Rex has risen steadily and its post-IPO trading range was $7.55 to $17.95.  This came public back in July 2007 with a 9.6 million share offering at $11.00, and KeyBanc was the lead there at the IPO time as well.

 

Rex Energy closed up over 7% today at $18.68, a new high, although shares are down some 3% at $18.05 in after hours trading.

Jon C. Ogg
April 7, 2008

Posted on: April 7, 2008 – 4:07 pm in Oil & Gas, Secondary Offering,