Rex Energy to file for Chapter 11 [Seeking Alpha]
REX ENERGY (REXX)
Last rex energy earnings: 5/15 04:14 pm
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US:NASDAQ Investor Relations:
rexenergy.com/company-strategy.html
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Source: Seeking Alpha
Rex Energy to file for Chapter 11Rex Energy (NASDAQ:REXX) says it isfiling for Chapter 11 bankruptcy after failing to reach agreement with its lenders after missing a debt payment last month.Rex says it lost ~$53M in Q1 and reports an outstanding loan balance of $274M as of March 31.The company, which is active in the Marcellus and Utica shales, says it still plans to drill and complete several wells during the rest of the year.Click to subscribe to real-time analytics on REXXNow read:Rex Energy Heads Towards Restructuring »
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