WPX Energy (NYSE: WPX) today reported an unaudited fourth-quarter 2015 net loss attributable to common shareholders of $1.539 billion, or a loss of $5.59 per share on a diluted basis, including a $2.3 billion non-cash impairment of oil and gas properties. 2015 HIGHLIGHTS Substantial progress reshaping company and portfolio Closed transformational Permian acquisition; Delaware Basin wells exceeding expectations Closed $1 [...]
COMPANY RECEIVES FURTHER EQUITY COMMITMENT FROM KAYNE PRIVATE ENERGY INCOME FUND AND NEW INVESTOR WARBURG PINCUS HOUSTON, Feb. 9, 2016 /PRNewswire/ -- Terra Energy Partners LLC ("Terra" or the "Company"), an independent oil and natural gas company headquartered in Houston, Texas, announced today that the Company has agreed to acquire WPX Energy Rocky Mountain, LLC from WPX Energy Inc. (NYSE: WPX) ("WPX") for $910 million [...]
WPX Energy (NYSE: WPX) announced today 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 the second quarter. Additionally, Terra is assuming approximately $100 million in transportation obligations in exchange for more than $90 million of WPX’s natural gas hedge value. WPX will [...]
WPX Energy (NYSE: WPX) has added more hedges to protect cash flows and repurchased a portion of notes that are due in early 2017. Approximately three-fourths of WPX’s 2016 anticipated oil volumes are hedged well above current prices. The company now has 29,380 barrels of oil per day hedged at $60.85 per barrel in 2016. This includes another 2,000 bbl/d added since the company’s most recent quarterly report [...]
WPX Energy (NYSE: WPX) plans to discuss its fourth quarter and year-end 2015 financial and operations results during a webcast on Thursday morning, Feb. 25, beginning at 10 a.m. Eastern. Investors are encouraged to access the event and the corresponding slides at www.wpxenergy.com. A replay of the webcast will be available on WPX’s website for one year following the event. Chief Executive Officer Rick Muncrief [...]
WPX Energy (NYSE:WPX) announced today that it signed an agreement to sell its San Juan Basin gathering system for consideration of 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 to closing adjustments and a commitment estimated at $24 million in capital designated by the purchaser to expand the system to [...]
WPX Energy (NYSE: WPX) 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. (NYSE: ARES). The sale is part of WPX’s deleveraging plan targeting $400-$500 million in divestitures by the end of 2015. WPX also recently completed an $80 million sale of its coalbed [...]
WPX Energy’s (NYSE: WPX) board of directors has approved a quarterly dividend of $0.78125 per share to holders of the company’s 6.25 percent Series A Mandatory Convertible Preferred Stock. The dividend is payable on Feb. 1, 2016, to holders of record of the company’s preferred stock at the close of business on Jan. 15, 2016. About WPX Energy, Inc. WPX is a domestic energy producer with operations in the [...]
WPX Energy’s (NYSE:WPX) third-quarter 2015 results reflect the successful close of the company’s acquisition of Permian Basin properties in mid-August and continued operational improvements in its portfolio. WPX set a new high for liquids production including a partial quarter of Permian volumes, averaging 56,500 barrels per day of oil and NGL in third-quarter 2015. Oil production alone surpassed 35,000 [...]
WPX Energy (NYSE: WPX) has promoted Clay M. Gaspar to Senior Vice President and Chief Operating Officer, effective Nov. 2, 2015. Gaspar joined WPX in October 2014 as Senior Vice President of Operations and Resource Development. Under Gaspar’s leadership, WPX has significantly decreased its development costs and operating expenses in support of the company’s plan to increase margins. “Clay has earned this [...]
WPX Energy’s (NYSE: WPX) board of directors has approved a quarterly dividend of $0.85938 per share to holders of the company’s 6.25 percent Series A Mandatory Convertible Preferred Stock. The dividend is payable on Nov. 2, 2015, to holders of record of the company’s preferred stock at the close of business on Oct. 15, 2015. WPX issued the preferred stock in July to support its acquisition of privately [...]
WPX Energy (NYSE: WPX) plans to discuss its third-quarter 2015 financial and operations results during a webcast on Thursday morning, Nov. 5, beginning at 10 a.m. Eastern. Participants are encouraged to access the event and the corresponding slides at www.wpxenergy.com. A replay of the webcast will be available on WPX’s website for one year following the event. Chief Executive Officer Rick Muncrief, Senior Vice [...]
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