Monday, September 1, 2014
Rex Energy (State College, Pa.) has entered into an agreement with an affiliate of Royal Dutch Shell to acquire a 100% interest in about 208,000 acres in the Marcellus, Upper Devonian/Burkett, and Utica shales in Pennsylvania and Ohio. The purchase price is reported at $120 million in cash. The transaction was expected to close in August. The assets are located in Armstrong, Beaver, Butler, Lawrence, Mercer, and Venango counties in Pennsylvania and Columbiana and Mahoning counties in Ohio.
