Rex Energy Corp’s. ( NASDAQ: REXX) bank group reaffirmed the $190 million borrowing base under the company’s senior secured credit facility, according to an Oct. 3 press release.
The next borrowing base redetermination is scheduled to occur in April 2017.
Tom Stabley, president and CEO, said that the reaffirmed borrowing base, along with the various transactions that were completed over the past year, have allowed the company to continue its operational plan of having core Appalachian Basin acreage HBP by mid-2017.
Rex Energy is based in State College, Pa.
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