Tag: WPX Energy
WPX Energy loses $59M in Q1 but optimistic for Permian Basin production
Adjusted net loss from operations in Q1 was $59 million, or a loss of $0.21 per share TULSA, Okla. – WPX Energy says that it is increasing its estimated ultimate recoveries (EURs) for its Delaware Basin wells in the Permian to 900 Mboe, up 34 per cent from its acquisition type curve of 670 Mboe. The company plans […]
WPX Energy sells San Juan Basin gathering system for $309 million
WPX Energy has a net debt of $3.2 billion consisting of $3 billion in notes, remainder primarily in revolver borrowings WPX Energy says it has completed the previously announced sale of its San Juan Basin gathering system for approximately $309 million. The San Juan is located in the Four Corners region of northwestern New Mexico, southwest Colorado, […]
Permian Basin News: WPX Energy sells Piceance subsidiary for $910 Million
WPX has re-shaped company by high grading portfolio, adding decades of drilling inventory, executing $5.5B in transactions over 21 months WPX Energy announced Tuesday that it has signed an agreement to sell its wholly owned subsidiary WPX Energy Rocky Mountain, LLC, to Terra Energy Partners LLC for $910 million. The parties expect to close the sale in […]
WPX Energy hedges more production, reduces debt
WPX says it remains engaged in discussions to sell all or a portion of its assets in Piceance Basin TULSA, Okla.- WPX Energy says it has shored up its balance sheet by selling assets and hedging about 75 per cent of its oil production. WPX Energy says it added more hedges to protect cash flows and repurchased […]
WPX sells San Juan gathering system to focus on Permian Basin
Sales part of WPX deleveraging plan following acquisition of Permian Basin properties in August TULSA, Okla. – WPX Energy says it is selling its San Juan Basin gathering system for approximately $309 million to a portfolio company of ISQ Global Infrastructure Fund, a fund managed by I Squared Capital. WPX is receiving $285 million cash subject […]
WPX Energy completes sale of Van Hook gathering system to reduce debt load
“We are fully engaged in debt reduction efforts” – Rick Muncrief, WPX Energy CEO TULSA, Okla .- WPX Energy announced today that it has completed the sale of a North Dakota gathering system for approximately $185 million to a private equity fund managed by the Ares EIF Group, a subsidiary of Ares Management, L.P. The sale […]
WPX Energy promotes Clay Gaspar to Chief Operating Officer
Gaspar has master’s degree in petroleum/geosciences engineering from University of Texas – WPX Energy TULSA, Okla. – WPX Energy has promoted Clay M. Gaspar to Senior Vice President and Chief Operating Officer, effective Nov. 2. Gaspar joined WPX in October 2014 as Senior Vice President of Operations and Resource Development. Under Gaspar’s leadership, WPX has significantly […]
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