Rex Energy Corporation (“Rex Energy”) (NASDAQ:REXX) today announced that its Board of Directors has authorized the company to pursue the sale of its Southwestern Region assets. The assets include all of the company’s properties in Texas and New Mexico, predominantly located in the Permian Basin. The company has retained the investment banking firm of KeyBanc Capital Markets, Inc. to assist in the marketing efforts.

Parties interested in participating in the sale process should contact:

Kevin Hays, Director

KeyBanc Capital Markets, Inc.

Ph: (214)-414-2611

Email: khays@keybanccm.com

The proceeds of the anticipated sale are expected to be used to fund a portion of Rex Energy’s planned capital budget items, including its Marcellus Shale exploration projects in the Appalachian Basin and its Alkali-Surfactant-Polymer (ASP) projects in the Illinois Basin.

Benjamin W. Hulburt, President and Chief Executive Officer said, “Our decision to divest these non-core assets is part of our strategic plan to focus our efforts and capital investment in our ASP flood projects in the Illinois Basin and our Marcellus Shale exploration projects in the Appalachian Basin.”

About Rex Energy Corporation

Rex Energy Corporation is an independent oil and gas company operating in the Illinois Basin, the Appalachian Basin and the Southwestern Region of the United States. The company has pursued a balanced growth strategy of exploiting its sizable inventory of lower risk developmental drilling locations, pursuing its higher potential exploration drilling prospects and actively seeking to acquire complementary oil and natural gas properties.

Rex Energy Corporation
Andrew Joyner, 814-278-7279
Investor Relations and Business Development Manager
ajoyner@rexenergycorp.com