STATE COLLEGE, Pa., July 09, 2015 (GLOBE NEWSWIRE) -- Rex Energy Corporation (Nasdaq:REXX) (the “Company”) announced today that it, together with its partners in Water Solutions Holdings, LLC (“Water Solutions”), has closed on the previously announced sale of Water Solutions to American Water Works Company, Inc. (“American Water”). The sale of Water Solutions includes all subsidiaries, including Keystone Clearwater Solutions. Rex Energy, which held a 60% interest in Water Solutions, is selling its entire interest and received net proceeds from the sale of approximately $67 million. The proceeds will be used to pay down the revolving line of credit and for general corporate purposes.
About Rex Energy Corporation
Rex Energy, headquartered in State College, Pennsylvania, is an independent oil and gas exploration and production company operating in the Appalachian and Illinois Basins within the United States. The company’s strategy is to pursue its higher potential exploration drilling prospects while acquiring oil and natural gas properties complementary to its portfolio.