Rex Energy Corp. (NASDAQ: REXX) closed the sale of its Ohio Utica Warrior South assets to Antero Resources Corp. (NYSE: AR), the company said Jan. 11.
The sale included 14 gross wells and about 4,100 net acres in Guernsey, Noble and Belmont Counties in Ohio; the assets are currently producing about 9 million cubic feet equivalent per day.
These assets were noncore to Rex Energy and were not included in the company's future development plans.
The proceeds from the sale will be used to pay down the revolving line of credit and for general corporate purposes, the State College, Pa.-based company said.
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