August 27, 2018 / 10:14 PM / 22 days ago

Bankrupt Rex Energy selling itself to PennEnergy for $600.5 million

Bankrupt oil and gas producer Rex Energy Corp has agreed to sell itself for $600.5 million to PennEnergy Resources LLC, according to a filing with the U.S. Securities and Exchange Commission on Monday.

The two companies struck the deal on Friday and Rex will ask Judge Jeffrey Deller of the U.S. Bankruptcy Court in Pittsburgh to approve it at a hearing scheduled for Thursday.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2PduSLr

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