Rex Energy Corporation (NASDAQ:REXX) Files An 8-K Regulation FD Disclosure

Rex Energy Corporation (NASDAQ:REXX) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.

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Disclosures to Non-Disclosure Agreements

As previously disclosed, Rex Energy Corporation (“Rex Energy” or the “Company”) has been engaged in discussions with holders of indebtedness under its Term Loan Credit Agreement, dated April28, 2017, and holders of its 1.0%/8.0% senior secured notes due 2020 (“Senior Notes”) regarding potential transactions involving a recapitalization, refinancing, or other restructuring transaction with respect to the Company (each, a “Possible Transaction”).

As previously reported, in connection with discussing a Possible Transaction, the Company entered into confidentiality agreements with legal and financial advisors for a committee of holders of the Senior Notes (the “Noteholders”) and individual Noteholders, in September 2017 and January 2018, respectively. More recently, in March of 2018, the Company renewed discussions with respect to a Possible Transaction with the Noteholders, and the parties executed additional confidentiality agreements (the“NDAs”). During the course of those recent discussions, and subject to the applicable NDAs, the Company shared certain confidential information with the Noteholders (collectively, the “Cleansing Materials”). While the Company is continuing the exchange of confidential information with certain of the Noteholders, one of the Noteholders requested that its NDA be terminated and the Cleansing Materials be disclosed to the terms of the applicable NDA. Copies of the Cleansing Materials are attached hereto as Exhibits 99.1 through 99.6.

Also attached hereto as Exhibit 99.7 is a summary of various proposals exchanged in connection with a Possible Transaction. The Company has not yet reached agreement on mutually acceptable terms and conditions with the Noteholders regarding a Possible Transaction. Negotiations between the Company and the Noteholders are ongoing. There are no assurances that the Company and such Noteholders will come to an agreement on the terms of a Possible Transaction.

Rex Energy expects that it will continue to assess its financing alternatives and opportunistically engage with current or potential investors, lenders, or financing providers regarding such alternatives in the future. Any financing, refinancing, or restructuring arrangement may be on terms similar or dissimilar to the proposals described herein, could be subject to additional terms or conditions, could require specific approvals from existing lenders, noteholders and/or shareholders, among others, and would otherwise be subject to the negotiation and execution of definitive documentation. There can be no assurance that any such transaction would result in additional liquidity or that any such transaction can or will be consummated.

In accordance with General Instruction B.2 of Form 8-K, the information under this heading shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth in such a filing.

Cautionary Note Regarding Forward-Looking Statements

Certain Statements in this Form 8-K and the exhibits hereto that are not historical facts (including the entirety of Exhibit 99.4) are “forward-looking statements” within the meaning of Section27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended. The Company believes these statements and the assumptions and estimates contained therein are reasonable based on information that is currently available to it. However, management’s assumptions and the Company’s future performance are subject to a wide range of business risks and uncertainties, both known and unknown, and the Company cannot assure that the Company can or will meet the goals, expectations and projections. Any number of factors could cause our actual results to be materially different from those expressed or implied in the Company’s forward looking statements. Further information on the risks and uncertainties that may affect our business is available in the Company’s filings with the SEC, and the Company strongly encourages readers to review and understand those risks. The Company does not assume or undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Item 7.01 Financial Statements and Exhibits.

(a) Exhibits.


REX ENERGY CORP Exhibit
EX-99.1 2 d565393dex991.htm EX-99.1 EX-99.1 Second Lien Noteholder Discussion Materials March 21,…
To view the full exhibit click here

About Rex Energy Corporation (NASDAQ:REXX)

Rex Energy Corporation is an independent oil, natural gas liquid (NGL) and natural gas company. The Company has operations in the Appalachian Basin and Illinois Basin. In the Appalachian Basin, the Company is focused on its Marcellus Shale, Utica Shale and Upper Devonian (Burkett) Shale drilling and exploration activities. In the Illinois Basin, the Company is focused on its developmental oil drilling on its properties. The Company owns an interest in approximately 1,820 oil and natural gas wells. The Company produces an average of over 195.8 net millions of cubic feet equivalent (MMcfe) per day, composed of approximately 62.4% natural gas, over 9.5% oil and approximately 28.1% NGLs. In the Illinois Basin, the Company produces an average of approximately 1,998 barrels of oil per day (bopd). Including both developed and undeveloped acreage, the Company controls approximately 99,200 gross (over 79,700 net) acres in Illinois, Indiana and Kentucky.

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