Rex Energy, an independent oil and natural gas company, said Thursday that it, together with its joint venture partners, has closed the previously announced sale of Water Solutions Holdings, LLC, including all of its subsidiaries, to American Water Works Company, Inc. (AWK).

Rex Energy received net proceeds of approximately $67 million from its 60% equity interest in the water business, which the company intends to use for debt repayments and for general corporate purposes.

In midday trade, REXX was up 1.7%, near the low end of the 52-week range of $2.47 – $16.60; while AWK was down 1.6%, below the midpoint of the 52-week range of $45.98 – $57.48.