Rex Energy’s $190M Borrowing Base Reaffirmed by Bankers

Rex EnergyRex Energy, now a pure play driller focused on the Marcellus/Utica (see Rex Energy Selling Illinois Basin Assets, Focus 100% on Marcellus), announced yesterday that its bankers have reaffirmed (or continued) the company’s $190 million borrowing base. A company’s borrowing base is the value of its assets–in this case the value of the leases and oil/gas wells Rex owns. Those assets are used as collateral to back up loans and IOUs. Rex has plenty of both (see Rex Energy Swapping $631M in Private IOUs for Public IOUs). Here’s the Rex announcement that its bankers will continue to value Rex’s assets at $190 million…

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