At the end of August, PennEnergy Resources agreed to acquire substantially
all of Rex Energy’s assets out of bankruptcy for $600.5 million. The deal closed Sept.
28. Penn Energy now operates 329 horizontal shale wells across 203,500 gross acres
primarily in Butler, Beaver and Armstrong counties, Pennsylvania. Estimated
combined net proved reserves are 8.5 Tcf, of which 1.7 Tcfe are PDP. Net
production is 450 MMcfe/d,
making PennEnergy the 10th largest gas
producer in Pennsylvania.“Almost all of the combined assets of......
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