Rex Energy Corp., State College, Pa., has filed for voluntary bankruptcy and plans to sell its assets.
The company has interests in the Appalachian basin (OGJ Online, Aug. 14, 2014).
The company operates and has 70% working interest in the Butler Operated Area prospective for liquids-rich gas from the Marcellus shale and the overlying Upper Devonian Burkett shale, according to Rex Energy’s web site. The company holds 100% working interest in 207,000 net acres prospective for the Marcellus shale, Upper Devonian shale, and Utica shale. In the Westmoreland, Clearfield, and Centre Country project areas, Rex Energy holds 40% non-operated working interest. The dry gas producing areas are operated by WPX Energy.
In the fourth quarter last year, the company produced an average 205.3 MMcfd of natural gas-equivalent—of which 40% was condensate and NGL.
