Exhibit 99.3

Rex Energy Corporation

Consolidated Balance Sheet

($ in Thousands, Except Share and per Share Data)

	December 31, 2017			December 31, 2016
ASSETS
Current Assets
Cash and Cash Equivalents	$	15,247		$	3,697
Accounts Receivable		25,974			25,448
Taxes Receivable		2,049			211
Short-Term Derivative Instruments		6,757			650
Inventory, Prepaid Expenses and Other		4,614			2,546
Total Current Assets		54,641			32,552
Property and Equipment (Successful Efforts Method)
Evaluated Oil and Gas Properties		1,086,625			1,053,461
Unevaluated Oil and Gas Properties		186,523			215,794
Other Property and Equipment		19,640			21,401
Wells and Facilities in Progress		38,660			21,964
Pipelines		16,803			18,029
Total Property and Equipment		1,348,251			1,330,649
Less: Accumulated Depreciation, Depletion and Amortization		(463,899	)		(475,205	)
Net Property and Equipment		884,352			855,444
Other Assets		44			2,492
Long-Term Derivative Instruments		2,970			3,435
Deferred Tax Assets—Long Term		130			—
Total Assets	$	942,137		$	893,923
LIABILITIES AND EQUITY
Current Liabilities
Accounts Payable	$	62,354		$	40,712
Current Maturities of Long-Term Debt		1,926			764
Accrued Liabilities		45,218			37,207
Short-Term Derivative Instruments		14,892			25,025
Total Current Liabilities		124,390			103,708
Long-Term Derivative Instruments		14,249			7,227
Senior Secured Line of Credit, Net		—			113,785
Term Loans, Net		182,028			—
Senior Notes, Net		650,371			638,161
Other Long-Term Debt		8,156			3,409
Other Deposits and Liabilities		7,153			8,671
Future Abandonment Cost		9,352			8,736
Total Liabilities	$	995,699		$	883,697
Commitments and Contingencies (See Note 12)
Stockholders’ Equity
Preferred Stock, $.001 par value per share, 100,000 shares authorized and 3,987 issued and outstanding on December 31, 2017 and December 31, 2016	$	1		$	1
Common Stock, $.001 par value per share, 100,000,000 shares authorized and 10,244,394 shares issued and outstanding on December 31, 2017 and 9,787,146 shares issued and outstanding on December 31, 2016.		10			10
Additional Paid-In Capital		652,917			650,669
Accumulated Deficit		(706,490	)		(640,454	)
Total Stockholders’ Equity		(53,562	)		10,226
Total Liabilities and Stockholders’ Equity	$	942,137		$	893,923

Rex Energy Corporation

Consolidated Statements of Operations

($ in Thousands, Except Share and per Share Data)

	For the Three Months Ended December 31,						For the Year Ended December 31,
	2017			2016			2017			2016
OPERATING REVENUE
Natural Gas, NGL and Condensate Sales	$	57,755		$	48,022		$	205,246		$	139,000
Other Operating Revenue		4			5			20			17
TOTAL OPERATING REVENUE		57,759			48,027			205,266			139,017
OPERATING EXPENSES
Production and Lease Operating Expense		31,912			28,694			120,794			104,699
General and Administrative Expense		4,414			5,384			17,858			20,621
Loss (Gain) on Disposal of Assets		279			164			(1,428	)		(4,121	)
Impairment Expense		4,928			29,275			21,383			74,619
Exploration Expense		114			224			527			2,178
Depreciation, Depletion, Amortization and Accretion		13,442			16,503			59,028			62,874
Other Operating (Income) Expense		280			(176	)		611			10,754
TOTAL OPERATING EXPENSES		55,369			80,068			218,773			271,624
INCOME (LOSS) FROM OPERATIONS		2,390			(32,041	)		(13,507	)		(132,607	)
OTHER INCOME (EXPENSE)
Interest Expense		(13,807	)		(9,404	)		(48,826	)		(43,519	)
Other Operating Expense		(2,031	)		(24,261	)		(1,347	)		(32,515	)
Other Expense		(68	)		(2,152	)		(261	)		(2,124	)
Debt Exchange Expense		—			(15	)		—			(9,063	)
(Loss) Gain on Extinguishments of Debt		—			497			(3,029	)		24,627
TOTAL OTHER EXPENSE		(15,906	)		(35,335	)		(53,463	)		(62,594	)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX		(13,516	)		(67,376	)		(66,970	)		(195,201	)
Income Tax Benefit (Expense)		2,728			(8,221	)		2,728			(2,436	)
NET LOSS FROM CONTINUING OPERATIONS		(10,788	)		(75,597	)		(64,242	)		(197,637	)
Income From Discontinued Operations, Net of Income Taxes		—			8,203			—			20,922
NET LOSS		(10,788	)		(67,394	)		(64,242	)		(176,715	)
Preferred Stock Dividends		(598	)		(650	)		(2,392	)		(5,091	)
Effect of Preferred Stock Conversions		—			668			—			72,984
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(11,386	)	$	(67,376	)	$	(66,634	)	$	(108,822	)

Rex Energy Corporation

Consolidated Statement of Changes in Stockholders’ Equity (Deficit)

For the Twelve Months Ended December 31, 2017

(Unaudited, in Thousands)

	Common Stock				Preferred Stock
	Shares		Par Value		Shares		Par Value		Additional Paid-In Capital			Accumulated Deficit			Total Stockholders’ Equity
BALANCE December 31, 2016		9,787	$	10		4	$	1	$	650,669		$	(640,454	)	$	10,226
Equity Based Compensation		—		—		—		—		1,231			—			1,231
Issuance of Common Stock for Debt Extinguishments		84		—		—		—		467			—			467
Issuance of Restricted Stock, Net of Forfeitures		59		—		—		—		—			—			—
Effect of Reverse Stock Split		—								(48	)					(48	)
Payment of Preferred Dividends in Arrears		—		—		—		—		—			(1,196	)		(1,196	)
Preferred Dividends in Arrears Paid in Common Shares		314		—		—		—		598			(598	)		—
Net Loss		—		—		—		—		—			(64,242	)		(64,242	)
BALANCE December 31, 2017		10,244	$	10		4	$	1	$	652,917		$	(706,490	)	$	(53,562	)

Rex Energy Corporation

Consolidated Statements of Cash Flows

(Unaudited, in Thousands)

	For the Year Ended December 31,
	2017			2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$	(64,242	)	$	(176,715	)
Adjustments to Reconcile Net Loss to Net Cash Provided (Used) by Operating Activities
Depreciation, Depletion, Amortization and Accretion		59,028			67,975
(Gain) Loss on Derivatives		1,347			32,515
Cash Settlements of Derivatives		(10,100	)		32,571
Non-cash Dry Hole Expense		13			905
Equity-based Compensation Expense		1,231			2,959
Impairment Expense		21,383			78,162
Amortization of net Bond Discount and Deferred Debt Issuance Costs		—			1,231
Non-cash Interest Expense related to Debt Restructurings and Exchanges		15,228			19,912
Loss (Gain) on Extinguishments of Debt		3,029			(24,627	)
Gain on Sale of Assets		(1,428	)		(34,651	)
Deferred Income Tax Benefit		(130	)		—
Other Non-cash Expense		471			22
Changes in operating assets and liabilities
Accounts Receivable		5,258			(6,414	)
Taxes Receivable		(1,839	)		—
Inventory, Prepaid Expenses and Other Assets		(2,060	)		906
Accounts Payable and Accrued Liabilities		14,558			2,795
Other Assets and Liabilities		(3,259	)		(1,950	)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES		38,488			(4,404	)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from the Sale of Oil and Gas Properties, Prospects and Other Assets		31,704			40,884
Proceeds from Joint Venture for Reimbursement of Capital Costs		—			19,461
Acquisitions of Undeveloped Acreage		(3,805	)		(6,712	)
Capital Expenditures for Development of Oil & Gas Properties and Equipment		(113,411	)		(48,982	)
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES		(85,512	)		4,651
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Long-Term Debt and Line of Credit		217,000			71,400
Repayments of Long-Term Debt and Line of Credit		(145,170	)		(65,230	)
Repayments of Loans and Other Notes Payable		(1,306	)		(828	)
Debt Issuance Costs		(10,754	)		(2,983	)
Payment of Preferred Dividends in Arrears		(1,196	)		—
NET CASH PROVIDED BY FINANCING ACTIVITIES		58,574			2,359
NET INCREASE IN CASH		11,550			2,606
CASH – BEGINNING		3,697			1,091
CASH – ENDING	$	15,247		$	3,697
CASH AND CASH EQUIVALENTS ATTRIBUTABLE TO CONTINUING OPERATIONS	$	15,247		$	3,697
SUPPLEMENTAL DISCLOSURES
Interest Paid, net of capitalized interest	$	22,382		$	30,805
Cash (Received) Paid for Income Taxes		1,839			29
Capital Expenditures for Development of Oil & Gas Properties and Equipment Attributable to Discontinued Operations		—			1,346
NON-CASH ACTIVITIES
Change in fair value of contingent consideration receivable—sale of Illinois Basin	$	(1,216	)	$	(2,936	)
Proceeds held in Escrow—non-cash component of Gain on Sale of Assets		5,000			—
Increase (Decrease) in Accounts Payable and Accrued Liabilities for Capital Expenditures		14,637			712
Net Increase in Property and Equipment—Capital Lease Financing		7,170			—
Decrease in Senior Notes carrying value net of Issuance Costs, Deferred Gain on Exchanges, and Net Premium / Discount due to Debt to Equity Conversions		(879	)		(47,182	)
Decrease in Bond Interest Payable due to Debt to Equity Conversions		(12	)		(892	)
Increase in Common Stock outstanding due to Debt to Equity Conversions		467			17,378
Preferred Dividends in Arrears Paid in Common Shares		598			—