WPX Energy to Enter Permian Basin with Transformative Transaction
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WPX Energy (WPX) Announces Senior Unsecured Notes, Common Stock, Mandatory Conv. Preferred Offering
July 14, 2015 6:30 AM EDTWPX Energy (NYSE: WPX) has commenced concurrent public offerings of $1.2 billion aggregate principal amount of senior unsecured notes, 27,000,000 shares of its common stock and $300 million aggregate liquidation preference of its series A mandatory convertible preferred stock.
These offerings are separate public offerings made by means of separate prospectus supplements under WPX Energys effective shelf registration statement and are not contingent on each other or upon the consummation of WPX Energys previously announced acquisition of RKI Exploration & Production, LLC... More
WPX Energy (WPX) to Acquire RKI Exploration in $2.75B Deal
July 14, 2015 6:02 AM EDTWPX Energy (NYSE: WPX) announced a definitive merger agreement to acquire privately held RKI Exploration & Production, LLC for $2.35 billion plus the assumption of $400 million of debt.
The majority of RKIs leasehold is located in Loving County, Texas, and Eddy County, N.M., where the company has four rigs deployed. RKIs liquids-rich assets in the Permian Basin include:
Approximately 22,000 boe/d of existing production more than half of which is oilApproximately 92,000 net acres in the core of the Permians Delaware Basin approximately 98 percent of which... More