Rex Energy to Pay $12.5 Million to Pa. Landowners to Settle Lease Disputes

STATE COLLEGE, Pa. - Rex Energy Corp. has agreed to pay up to $12.5 million to settle claims by western Pennsylvania landowners that the company reneged on promises by agents to lease mineral rights in the Marcellus Shale region of Pennsylvania. Snyder, et al. v. Rex Energy I, LLC, et al., No. 6332 2009 (Pa. Ct. Commn. Pls., Westmoreland Cty.).

The company said in a July 19 announcement that the settlement agreement, which has been approved by the Westmoreland County (Pa.) Court of Common Pleas would cover approximately 5,000 aces if the 114 lease offers to individual owners are accepted.