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Rex Divests Conventional Illinois Basin Assets for $40 Million

Campbell Development Group LLC Rex Energy Corp
AnnouncedJun 14, 2016
TypeProperty
Announced Date
June 14,2016
Effective Date
July 01,2016
Close Date
August 18,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
40




Snapshot
Asset/Basin:
{"Illinois Basin"}
Net Acres
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Proved Reserves
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Location
Region
Northeast

Country
United States

State
Kentucky

Production & Reserves
Production
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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$/ Acre
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Transaction Details:  Subscribe to see

Closing Announcement - August 22, 2016

Rex Energy Corporation has closed on the previously announced sale of its Illinois Basin assets to Campbell Development Group, LLC.

The sale of the Illinois Basin assets includes approximately 76,000 net acres in Illinois, Indiana and Kentucky; the assets are currently producing approximately 1,700 net barrels per day. Rex Energy is selling its entire interest in the basin and has received net proceeds from the sale of approximately $40 million with the potential for additional proceeds of up to $10 million over the next three years based on commodity…


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United States Deal Activity In Last 12 Months


Other Northeast Region's Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jan-24-2020 - - Click here Pennsylvania  E&P
Dec-19-2019 - - Click here Ohio  E&P
Oct-21-2019 - - Click here Pennsylvania  E&P
Jul-19-2019 - - Click here Pennsylvania  E&P
Jul-19-2019 - - Click here Pennsylvania  E&P

Other United States Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Apr-14-2020 - - Click here Kentucky  E&P
Sep-18-2019 - - Click here Kentucky  Midstream
Oct-11-2018 - - Click here Kentucky  E&P
Jun-14-2018 - - Click here Kentucky  E&P
Jan-25-2017 - - Click here Kentucky  E&P

Other United States Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Feb-28-2014 - - Click here Indiana  Service
Aug-25-2008 - - Click here Indiana  E&P
Mar-01-2007 - - Click here Indiana  E&P

Price History


Date Deal Headline Price$/acre
Oct-11-2018 Diversified Gas & Oil Acquires Core Appalachia for $183MM Cash/Stock -   141
Jun-14-2018 Diversified Picks Up Appalachia Assets from EQT for $575MM -   230
Dec-27-2010 Magnum Hunter Resources Acquires NGAS Resources for $98 Million -   272