wpx energy inc (WPX) Key Developments
WPX Energy Prices Senior Unsecured Notes
Sep 9 14
WPX Energy announced that the company priced an offering of $500 million aggregate principal amount of senior unsecured notes due 2024, which will carry an interest rate of 5.25%. The notes were sold to the public at par.
WPX Energy Mulls Aquisitions
Sep 3 14
WPX Energy, Inc. (NYSE:WPX) is seeking acquisitions. WPX Energy, Inc. has completed a Fixed-Income Offering in the amount of $500 million. Over the past 12 months, WPX Energy used the proceeds of borrowings under the credit facility for general corporate purposes, including acquisitions, working capital and capital expenditures.
WPX Energy, Inc. Presents at Barclays CEO Energy-Power Conference, Sep-03-2014 01:45 PM
Aug 29 14
WPX Energy, Inc. Presents at Barclays CEO Energy-Power Conference, Sep-03-2014 01:45 PM. Venue: The Sheraton NY Hotel & Towers, 811 Seventh Ave, New York City, NY 10019, United States. Speakers: Rick Muncrief, President and Chief Executive Officer.
TRDC LLC to Joint Venture with WPX Energy to Develop Colorado Trail Ridge Properties
Aug 26 14
G2X Energy, through their subsidiary TRDC LLC, announced an agreement with Tulsa based WPX Energy to jointly develop WPX's Trail Ridge Properties located in western Colorado's Piceance Basin Highlands. WPX, who will remain as operator, is receiving approximately $40MM in cash for 49% of its working interest in approximately 100 proved developed producing Trail Ridge wells. These wells represent approximately 26 billion cubic feet equivalent of proved developed producing reserves. The drilling program has 1,300 remaining drilling locations. The parties plan to jointly develop 8 wells this year; 25 wells in 2015; 50 wells in 2016 and 100 wells per year in 2017 and beyond. The joint development agreement is for the Williams Fork and Iles formations only. G2X estimates that the drilling program will include 230 billion cubic feet equivalent of net proved undeveloped reserves and an additional 620 billion cubic feet equivalent of net probable reserves. In connection with the drilling program, G2X has also committed to a $170 million drilling carry on nearly 400 future wells. WPX will pay 28% of the Trail Ridge development and receive 51% of the production and reserves until G2X has completed its drilling carry funding commitment.
Wpx Energy, Inc. Acquires Oil Play in San Juan Basin
Aug 19 14
WPX Energy, Inc. is acquiring 26,000 additional acres of oil play in the San Juan Basin while also selling all of its remaining mature coal bed methane holdings in the Powder River Basin. The company reported that the separate transactions are part of a focus on margin improvements. WPX is selling the Powder River holdings for $155 million in cash while increasing its San Juan oil position.