wpx energy inc (WPX) Key Developments
RKI Exploration & Production, LLC, WPX Energy, Inc. - M&A Call
Jul 14 15
To consider merger agreement to acquire RKI Exploration & Production, LLC for $2.35 billion plus the assumption of $400 million of debt
RKI Seeks To Sell Powder River Basin Asset Before Merging With WPX
Jul 14 15
RKI Exploration & Production, LLC is planning to divest or transfer out its Powder River Basin assets before completing the merger with WPX Energy, Inc.(NYSE: WPX).
WPX Energy Seeks Acquisitions
Jul 14 15
WPX Energy, Inc. (NYSE:WPX) has commenced a public offering of 27 million shares of its common stock. It intends to use proceeds from the offering, cash on hand and borrowings under its revolving credit facility to finance the acquisition of RKI Exploration & Production, LLC (RKI), and to pay related fees and expenses. In addition, WPX will also use proceeds for working capital needs or general corporate purposes, including the repayment of indebtedness and other acquisitions.
WPX Energy Plans to Increase Its Activity in Williston Basin
Jun 25 15
WPX Energy plans to increase its activity in the Williston Basin during the second half of 2015 by resuming completions and increasing its rig count from one to three before year-end. The decision follows significant process improvements, structural changes to lower costs, successful discussions with key vendors, a technical analysis of WPX as well performance that led to higher estimated ultimate recoveries (EURs) and favorable results from larger stimulations.
WPX Energy Adds Acreage in Gallup Oil Play
Jun 22 15
WPX Energy has completed the purchase of another 14,300 net acres in the San Juan Basin’s Gallup oil window from an undisclosed seller for approximately $26 million. The acreage purchase represents an estimated 100 gross drilling locations, boosting WPX’s tally in the San Juan Gallup to approximately 500.