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Rex Energy – Cancels Auction, PennEnergy Resources Purchases Assets for $600.5 million

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August 25, 2018 – Rex Energy filed with the U.S. Bankruptcy Court a notice announcing the cancellation of its auction with respect to a sale of the Debtors’ Assets and selected the bid submitted by PennEnergy Resources, LLC (the “Successful Bidder”) as the Successful Bid. [Docket No. 783]. The aggregate purchase price for the purchase, sale, assignment and conveyance of Sellers ‘right, title and interest in, to and under the Assets shall be six hundred million five hundred thousand dollars ($600,500,000). The filing attaches the asset purchase agreement, dated as of August 24, 2018, between the Debtors and the Successful Bidder.

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The post Rex Energy – Cancels Auction, PennEnergy Resources Purchases Assets for $600.5 million appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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