One-Page Deal Sheet
Rex Energy Sells Permian Basin Assets
Adventure Exploration Partners Llc Rex Energy Corp
Announced Date
December 29,2008
Effective Date
October 01,2008
Close Date
March 24,2009
Transaction Type
Property
Enterprise Value (EV)($MM)
18
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Production ($/Mcfe/d)
Transaction Details: Require Private Equity Subscription
Rex Energy Corporation announced today that its wholly-owned subsidiary, Rex Energy I, LLC, has entered into a definitive purchase and sale agreement with Adventure Exploration Partners, LLC of Midland, Texas for the sale of its Southwestern Region assets for $18 million, subject to customary adjustments.
The assets consist of properties owned by the company in Texas and New Mexico, predominantly located in the Permian Basin. The sale includes approximately 10,000 net acres (15,000 gross acres), year-end 2007 proven reserves of 10.7 Bcfe, and approximately 1.6 MMcfe per day of production as…
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