It took them a year to sell these assets they should have never acquired---but what the hell it was other peoples' money they wasted!

Nothing like buying high, selling low!

I wonder how big of a haircut the rubes at Rex took?

Rex Energy (NASDAQ:REXX) +7.2% AH after agreeing to sell its Illinois Basin assets to Campbell Development for ~$40M, with the potential for up to another $10M over three years based on commodity prices.

The sale includes 76K net acres in Illinois, Indiana and Kentucky, with current production of ~1,700 net bbl/day.

Rex says it plans to use the proceeds to pay down its revolving line of credit and for general corporate purposes, and expects to maintain its current $190M borrowing base.