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Rex Energy Corporation Announces Appointment of Interim CEO and Commencement of CEO Search

/ Source: GlobeNewswire

STATE COLLEGE, Pa., June 3, 2011 (GLOBE NEWSWIRE) -- Rex Energy Corporation (Nasdaq:REXX) announced today that Lance Shaner, currently chairman of the board of Rex Energy, has been appointed interim president and chief executive officer to replace Dan Churay, who is leaving the company. The company's board has commenced a search for a new CEO with an energy industry operational background, including both external and internal candidates. Patrick McKinney, executive vice president and chief operating officer, and Tom Stabley, executive vice president and chief financial officer, will continue in their roles under their existing employment agreements supporting Mr. Shaner while the board conducts the search.

Mr. Shaner commented, "The board of directors and I would like to thank Dan for his years of service on the board as past chairman of the compensation committee and his many contributions to the company during his tenure as CEO, especially in the areas of strategy, governance, talent management and the disposition of litigation against the company. We are looking forward to finding a new CEO with exploration and production experience at the conclusion of our search."

About Rex Energy Corporation

Rex Energy is an independent oil and gas company operating in the Illinois, Appalachian and Denver-Julesburg Basins in 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.

The Rex Energy Corporation logo is available at .

CONTACT: Tom Stabley Executive Vice President and Chief Financial Officer (814) 278-7215 tstabley@rexenergycorp.com