Rex Energy Corporation

Rex Energy Corporation (OTC: REXXQ) filed for Chapter 11 bankruptcy on May 18, 2018. This shale natural gas operator declined to a bottom-rung FRISK® score of "1" in 2017, indicating an elevated probability of bankruptcy prior to filing. Subscriber crowdsourcing also sent a negative signal for several months, showing that counterparties were concerned about the company's financial condition.

Rex Energy FRISK score graph

This Bankruptcy Case Study will illustrate the factors that contributed to Rex Energy's eventual collapse. We specifically highlight financial metrics including deteriorating trends in tangible net worth and working capital. It also reported an acceleration of debt, which further impaired its liquidity position.

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About Bankruptcy Case Studies

CreditRiskMonitor® Bankruptcy Case Studies provide post-filing analyses of public company bankruptcies. Our case studies educate subscribers about methods they can apply to assess bankruptcy risk using our proprietary FRISK® score, robust financial database, and timely news alerts.

In nearly every case, a low FRISK® score gave our subscribers early warning of financial distress within a one-year time horizon. Our proprietary FRISK® score predicts bankruptcy risk at public companies with 96% accuracy. The score is formulated by a number of indicators including stock market capitalization and volatility, financial ratios, bond agency ratings from Moody’s, Fitch and DBRS, and crowdsourced behavioral data from a subscriber group that includes 35% of the Fortune 1000 and thousands more worldwide.

Whether you are new to credit analysis or have decades of experience under your belt, CreditRiskMonitor® Bankruptcy Case Studies offer unique insights into the business and financial decline that precedes bankruptcy.