Bankrupt Rex Energy To Sell Remaining Assets

Rex Energy Corp. filed for Chapter 11 bankruptcy and simultaneously launched a sale process for its remaining assets, the Appalachia shale producer said May 18. Rex Energy is a pure-play Appalachian Basin-focused company targeting wet gas windows in the Pennsylvania Marcellus and Ohio Utica shales. As of January, the company held roughly 98,000 net acres in the shale basin. The company has already sold a bulk of its assets, including a position in the Illinois Basin, as it struggled with debt woes since the downturn in commodity prices in late 2014. Most recently, Rex sold certain nonop Appalachia interests in Westmoreland, Centre and Clearfield counties, Pa., for $17.2 million in March.

https://www.shaledirectories.com/blog/bankrupt-rex-energy-to-sell-remaining-assets/