Privately held, Pennsylvania-based Rex Energy reports that Rex Energy II Ltd. Partnership has closed the acquisition of several oil and gas properties in Midland, Glasscock, Upton and Reagan counties in west Texas for $5.2 million. The properties have total reserves of 850,000 barrels of oil equivalent, including 391,000 barrels of oil equivalent of proved producing reserves. The properties currently produce 86 barrels of oil per day and 127,000 cubic feet of gas per day primarily from the Grayburg, San Andres and Sprayberry formations.
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