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Stock Market & Financial Investment News

News Breaks
June 2, 2014
06:06 EDTMWE, REXXMarkWest Energy announces commencement of Bluestone II
MarkWest Energy (MWE) announced the commencement of Bluestone II, a 120 million cubic feet per day cryogenic processing facility. The Bluestone II plant is part of the Partnership’s Keystone assets in Butler County, Pennsylvania and increases processing capacity for Marcellus producers operating in the rich-gas area of northwest Pennsylvania to 210 MMcf/d. Concurrently with the new processing plant, MarkWest has also completed 20,000 barrels per day of ethane and heavier fractionation capacity at the Bluestone facility, and a 32 mile purity ethane pipeline connecting to Mariner West. The Bluestone II plant primarily supports the expanding production of Rex Energy (REXX). Rex Energy now has 190 MMcf/d of dedicated processing capacity at MarkWest’s Keystone facilities, which also consist of 50 MMcf/d of capacity at the Bluestone I plant and 40 MMcf/d of capacity at the Sarsen facility. MarkWest continues to develop its rich-gas gathering system throughout Butler County and surrounding areas in order to support the continued growth of its processing facilities.
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August 12, 2014
16:22 EDTREXXRex Energy acquires SWEPI, LP for $120M in cash
Rex Energy (REXX) has entered into a definitive purchase agreement with SWEPI, LP, an affiliate of Royal Dutch Shell (RYDAF), to acquire a 100% interest in approximately 208K gross acres prospective for the Marcellus, Upper Devonian/Burkett and Utica Shales in Pennsylvania and Ohio for approximately $120M in cash. The transaction is expected to close in September. The assets to be acquired are located in Armstrong, Beaver, Butler, Lawrence, Mercer and Venango counties in Pennsylvania and Columbiana and Mahoning counties in Ohio. The additional acreage, combined with recent leasing, will bring Rex Energy's position in its Butler Operated Area to approximately 298K gross acres.
16:19 EDTREXXRex Energy files to sell $125M of depositary shares
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