Rex Energy Sells Keystone Water Subsidiary to American Water Works

In April MDN told you that Rex Energy was shopping its 60% ownership of Keystone Clearwater Solutions, the company’s water service subsidiary (see Rex Energy: 1Q15 Production Up 60%; Still Selling Keystone Clearwater). Rex has found a buyer and is selling to American Water Works (AWW). AWW is buying the whole enchilada, not just Rex’s part, for $130 million. Rex’s portion of the sale price will be $66 million, which Rex plans to use to pay down debt and for “general corporate purposes”…

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