June 28, 2018 / 12:19 AM / 23 days ago

Rex Energy says midstream operator's demand will chill bidding

Bankrupt energy producer Rex Energy Corp said on Tuesday in court papers it expects to resolve two objections to its bidding procedures raised by MarkWest Liberty Bluestone LLC, but argued a third objection by the midstream services provider related to paying trade vendors should be rejected.

Last week, MarkWest, which runs a gas gathering system and processing plant that brings a majority of Rex’s products to market, filed objections to the procedures in the U.S. Bankruptcy Court in Pittsburgh, Pennsylvania. MarkWest argued it should be allowed to attend a planned auction and that contracts Rex will assume or assign to a winning bidder should be shared before a hearing to approve a sale.

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