Rex Energy to partner with New York-based credit manager for new wells in Ohio, Pennsylvania
Tuesday, March 8, 2016
Akron Beacon Journal reports that Rex Energy Corp. will partner with an affiliate of Benefit Street Partners LLC, to explore and develop the Utica and Marcellus shale in Ohio and Pennsylvania.
The joint venture will develop 58 new wells in Ohio and Pennsylvania, and it will allow Rex Energy to complete 15 additional wells this year. Specifically, the joint venture will develop 6,300 acres in Carroll County Ohio’s Warrior North Area and 42,000 acres in Pennsylvania’s Butler County.
In eastern Ohio, Rex Energy has drilled 37 Utica wells.
Read more: Akron Beacon Journal > Rex Energy announces $175 million joint venture in Utica, Marcellus shales
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