PennEnergy to buy bankrupt Rex Energy
Wednesday, September 5, 2018
Pittsburgh-based natural gas driller PennEnergy Resources LLC will acquire the assets of Rex Energy Corp. for $600.5 million in a cash deal, according to the Pittsburgh Business Times.
PennEnergy received approval last Thursday from the judge in charge of the Rex case in the U.S. Bankruptcy Court for the Western District of Pennsylvania. The deal will close Sept. 28, making PennEnergy the 10th largest natural gas driller in Pennsylvania.
Rex started the sales process in May when it filed for Chapter 11 bankruptcy.
Learn more: Pittsburgh Business Times > Pittsburgh gas driller to acquire assets of Rex Energy
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