Rex Energy Owes Nearly $1B – Who They Owe & How Much

Last week Rex Energy filed for Chapter 11 bankruptcy protection (see Clock Runs Out – Rex Energy Files for Chapter 11 Bankruptcy). Right after filing, the company announced it has put up essentially all of its Marcellus/Utica assets (leases, wells, etc.), for sale, in order to pay off what it owes (see Fire Sale: Rex Energy Selling Everything to Pay Back Lenders). Which begs the question: What does the company owe? As it turns out, it’s close to $1 billion. The company, in a filing made on the first day of bankruptcy proceedings, included a list of who it owes, for what purpose, and how much–totaling $984.5 million. The biggest chunk is owed to a Delaware bank, some $617 million. However, Rex also owes money to 29 other entities, including MarkWest Energy, various oilfield services companies, taxes, and even some royalties are owed. We have the full list of the 30 entities that are owed money–detailing how much and for what purpose…

Please Login to view this content. (Not a member? Join Today!)
You do not have permission to view the comments.

Please Login to post a comment