Active Morning Movers: Rex Energy Corporation (REXX), Bonanza Creek Energy Inc (BCEI)

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Rex Energy Corporation (NASDAQ:REXX)

Stock’s Trading Stats:

Rex Energy Corporation (NASDAQ:REXX) is trading up with a percentage change of 37.39% and is at $1.32 right now. The Company’s market capitalization stands at $93.3 Million in the current trading Session whereas, its outstanding shares are 56.95 Million.

Recent Press Release:

INEOS Europe AG and Rex Energy Corporation (REXX) have announced a new natural gas liquids sale and purchase agreement covering ethane, propane and butane. The natural gas liquids will be transported through the Mariner East infrastructure and exported by sea to INEOS’ European cracker complexes. Transportation of Ethane supplies commenced in April 2016 while propane and butane supplies will start with the completion of Mariner East 2 pipeline in 2017.

“This contract adds to our supply portfolio providing for long-term sourcing of advantageously priced US natural gas liquids for our European crackers.  We are excited about our new business relationship with Rex Energy and look forward to future opportunities between our companies,” said David Thompson, CEO INEOS Trading and Shipping.

Bonanza Creek Energy Inc (NYSE:BCEI)

Stock’s Trading Stats:

Bonanza Creek Energy Inc (NYSE:BCEI) is surging 19.89% percent and is at $2.23 in the Real-Time trading session. The stock’s market capitalization stands at $136.34 Million with outstanding shares of 49.74 Million.

Recent Press Release:

Bonanza Creek Energy Inc (BCEI) announced it has performed a corporate reorganization, which resulted in a total workforce reduction of 26 employees and 17 contractors. The reorganization aligns its employee base and general and administrative cost structure with the current commodity price environment and resulting anticipated activity level.

Moreover, each of William J. Cassidy, Executive Vice President and Chief Financial Officer, and Christopher I. Humber, Executive Vice President, General Counsel and Secretary, will separate from their positions with the Company. Mr. Cassidy joined the Company in 2013 and served as its Executive Vice President and Chief Financial Officer. Mr. Humber joined the Company in 2012 as its Executive Vice President, General Counsel and Secretary immediately following its initial public offering.

James A. Watt, Chairman of the Company’s Board of Directors commented, “On behalf of the Company, I would like to express our gratitude for the dedication of our current employees as well as those who will not be a part of the Bonanza Creek team as a result of this reorganization. We also wish to express our appreciation for the leadership provided by Bill and Chris during their times as Chief Financial Officer and General Counsel of the Company, respectively. Over their tenures with Bonanza Creek each have been key members of the executive management team. On behalf of the Board of Directors and all of our colleagues within the Bonanza Creek family, we thank all of our departing team members for their contributions to the Company and wish each of them the very best in their future endeavors.”