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Rex Energy Will Upsize Borrowing Base

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April 2, 2014

The bank group for Rex Energy Corp. (NasdaqGS: REXX) voted to increase the borrowing base under the company’s senior secured credit facility by 15%, bringing it to $375 million, up from $325 million, the company said March 31.

The bank group also upsized the commitments under the facility to $375 million, up from $215 million, Rex Energy said.

A successful drilling program, increased EURs and growth in reserves and production led to the borrowing base’s increase, Rex Energy said.

"The increase in our borrowing base to $375 million demonstrates the ...

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