Rex Energy, MarkWest reach deal to increase gas processing

|About: Rex Energy Corporation (REXX)|By:, SA News Editor

Rex Energy (NASDAQ:REXX) says it has signed agreements with MarkWest Energy (NYSE:MWE) that will expand its natural gas processing capacity in Butler County, Pa.

Rex says its processing capacity will rise to at least 280M cf/day of gas by the end of 2015 with MWE's Bluestone III facility, and 405M cf/day by the middle of 2016 with Bluestone IV; MWE is in the middle of constructing both facilities.

Rex says the recently announced acquisition of Pennsylvania and Ohio acreage from Shell will significantly expand the Butler operated area, and the partnership with MWE will support its growth through increased processing and fractionation capacity.