Rex Energy’s Partner Ponies Up Another $46M for More Marc. Wells

Rex EnergyRex Energy Corporation, one of our favorite smaller Marcellus/Utica drillers, issued an update on their Marcellus drilling program on Tuesday. You may recall that just last week Rex announced they were selling off the rest of their non-Marcellus acreage to become a pure play driller (see Rex Energy Selling Illinois Basin Assets, Focus 100% on Marcellus). In Tuesday’s update, Rex says funding partner Benefit Street Partners has decided to fund the next 12 wells in Rex’s Moraine East drilling area. Benefit’s investment is going from the current $51.6 million to $98.1 million. Here’s the update for not only the Moraine East area, but also Butler and Warrior North…

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