Rex Energy Corporation (Nasdaq:REXX) announced that its bank group has reaffirmed the existing $190 million borrowing base under the company’s senior secured credit facility, inclusive of the previously announced sale of the Illinois Basin asset.

“I would like to thank our bank group for their continued support of Rex Energy,” said Tom Stabley, Rex Energy’s President and Chief Executive Officer. “One of the key components of our strategy is to maintain our liquidity and flexibility as we work towards our goal of having our core acreage in the Appalachian Basin held by production. With the various transactions we have executed over the past year to improve overall liquidity and reduce capital expenditures, the reaffirmed borrowing base is another positive step towards achieving our goals.”

About Rex Energy Corporation

Headquartered in State College, Pennsylvania, Rex Energy is an independent oil and gas exploration and production company with its core operations in the Appalachian Basin. The company’s strategy is to pursue its higher potential exploration drilling prospects while acquiring oil and natural gas properties complementary to its portfolio.