Rex Energy Announces Closing of Ohio Utica Warrior South Asset Sale
11 January 2017 - 9:01PM
Rex Energy Corporation (Nasdaq:REXX) (“Rex Energy”) today announced
that it has closed on the previously announced sale of its Ohio
Utica Warrior South assets to Antero Resources Corporation
(“Antero”). The sale of the Warrior South assets includes 14 gross
wells and approximately 4,100 net acres in Guernsey, Noble and
Belmont Counties in Ohio; the assets are currently producing
approximately 9.0 MMcfe/d net to Rex Energy. These assets were
non-core to Rex Energy and were not included in the company’s
future development plans. The proceeds from the sale will be used
to pay down the revolving line of credit and for general corporate
purposes.
Forward-Looking Statements
This press release includes "forward-looking
statements" within the meaning of federal securities laws. All
statements, other than statements of historical facts, included in
this release that address activities, events, developments,
forecasts, or guidance that Rex Energy expects, believes or
anticipates will or may occur in the future are forward-looking
statements. Forward-looking statements rely on assumptions
concerning future events and are subject to a number of
uncertainties, factors and risks, many of which are outside Rex
Energy's ability to control or predict, that could cause results to
differ materially from management's current expectations. These
risks and uncertainties include, but are not limited to, economic
and market conditions, operational considerations, the timing and
success of our exploration and development efforts, and other
uncertainties. Additional information concerning these and other
factors can be found in our press releases and public periodic
filings with the Securities and Exchange Commission, including our
Annual Report on Form 10-K for the year ended December 31, 2015,
and we strongly encourage you to review those documents to
understand these risks. You should not place undue reliance on
forward-looking statements because they reflect management's views
only as of the date of this release. We undertake no obligation to
revise or update any forward-looking statements, or to make any
other forward-looking statements, whether as a result of new
information, future events or otherwise.
About Rex Energy
Corporation
Headquartered in State College, Pennsylvania,
Rex Energy is an independent oil and gas exploration and production
company with its core operations in the Appalachian Basin. The
company’s strategy is to pursue its higher potential exploration
drilling prospects while acquiring oil and natural gas properties
complementary to its portfolio.
For more information contact:
Investor Relations
(814) 278-7130
InvestorRelations@rexenergycorp.com