Rex Energy Corp. (NasdaqGS: REXX) detailed its initial 2014 capex budget Jan. 15. On the same day, Rex also detailed production results for fourth quarter 2013 and the full year, as well as operational updates, the company said. 2014’s capex has between $350 -$365 million. Production results for both the fourth quarter 2013 and the entire year “exceeded the midpoint” of earlier guidance, the company said.

Much of the 2014 capex budget goes to exploration and development. The company’s operations in the Appalachia Basin-Butler get $175-$185 million. Operations in Appalachia Basin-Ohio Utica get $115 million. Operations in the Illinois Basin get $30-35 million and the non-operated Appalachia Basin-WPX gets $10 million in E&D, the company said.

A remaining $10 million goes to facilities and equipment for those areas, Rex added.

For the full year 2013, production volumes of natural gas, barrels of oil and natural gas liquids (NGLs) rose 38% above 2012. This year-over-year (Y/Y) increase totaled 92.7 million cubic feet equivalent per day (MMcfe/d), Rex said.

There was a total 64.2 MMcf/d of natural gas and a combined total of 4.8 million barrels of oil equivalent per day (BOE/d) and NGLs, Rex added.

The year-over-year (Y/Y) increase for oil and NGLs, above 2012, was 59% , the company said. Oil and NGLs accounted for 31% of 2013’s net production, the company added.

The fourth quarter 2013’s production volumes had a 49% increase over the fourth quarter 2012, the company said. This increase was 110.4 MMcfe/d. Natural gas had 76.4 MMcf/d, while barrels of oil and natural gas liquids (NGLs) had 5.7 MMcf/d, the company said. Oil and natural gas accounted for 31% of net production during the quarter, the company added.

Realized prices, including cash-settled derivatives, for the fourth quarter 2013 were $90.30 per barrel of oil and condensate, $4.04 for natural gas and $52.19 per barrel of NGLs, the company said.

Full year realized prices, also with cash-settled derivatives, were $91.29 per barrel of oil and condensate, $4.18 for natural gas and $48.34 per barrel of NGLs.

The company expects 57% production growth this year, Rex said.

Operational updates covered the company’s Appalachian Basin properties. In the Butler area, a six-well pad, the Baillie Trust, was placed into sales at an average, five-day sales rate per well of 5,957 thousand cubic feet equivalent per day (Mcfe/d). This excluded downtime, the company said.

Two wells, Baillie Trust 5H and Baillie Trust 6H were drilled offset vertically in the Upper Devonian Burkett shale, the company said. Also, The Baillie Trust 2H and 4H were drilled vertically in the Marcellus, the company added. Also in the Marcellus, the Baillie Trust 1H and Baillie Trust 3H were drilled, the company said. All six wells have total depth of roughly 10,252 feet, Rex said. The wells are recovering ethane, the company added.

The Baillie Trust wells’ location is the Sarsen and Bluestone facilities, the company said, adding that the construction of the Bluestone II facility is scheduled for second quarter 2014.

In the Illinois Basin, a second horizontal well of 1,500 total depth was drilled, Rex said. The company will continue its vertical drilling and re-completion program in 2014, Rex said.

Rex Energy, based in State College, Pa., is an independent oil and gas E&P.