A federal judge has approved the sale of oil and gas producer Rex Energy to a Moon Township-based energy company.

PennEnergy Resources said in a news release Thursday afternoon that its bid to buy Rex for $600.5 million in cash had been approved by the U.S. Bankruptcy Court for the Western District of Pennsylvania. The company said the deal is expected to close Sept. 28.

Rex, which has its regional headquarters in Cranberry Township, entered Chapter 11 bankruptcy in May after defaulting on debt payments. It has struggled in recent years with low market prices for natural gas.

Left unaddressed in PennEnergy's news release were several lawsuits filed against Rex by landowner groups alleging the company failed to live up to lease deals.

PennEnergy's sale agreement lays out slightly more than $1 million that would be split by those plaintiffs.

Among the suits levied against the company, three arose from groups in Butler County: the Gasch Group, The Dressler Family and the MacKrell Estate.

Find out more in the business section of Friday's Butler Eagle.>