WPX Energy (NYSE:WPX) announced today that it has completed the disposition of its international interests upon the successful merger of Apco Oil and Gas International (NASDAQ:APAGF) with a subsidiary of privately held Pluspetrol Resources Corporation. WPX is receiving approximately $294 million. In the merger, all of the outstanding equity interests of Apco, including the shares comprising WPX’s 69 percent controlling [...]
WPX Energy (NYSE: WPX) plans to discuss its fourth quarter and year-end 2014 financial and operations results during a webcast on Thursday morning, Feb. 26, 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 [...]
WPX Energy (NYSE: WPX) announced today it signed an agreement to sell its operations in northeast Pennsylvania and release certain firm transportation capacity to Southwestern Energy Company (NYSE:SWN) for approximately $300 million cash. A rig drills for natural gas in Pennsylvania's Marcellus Shale. WPX Energy signed a $300 million deal to sell a portion of its holdi...
WPX Energy’s (NYSE:WPX) unaudited results for the third quarter of 2014 reflect the benefit of continued increases in crude oil production and greater balance in commodity revenue streams, as well as the reclassification of coalbed methane properties in the Powder River Basin to discontinued operations. Domestic oil production climbed 52 percent higher in third-quarter 2014 vs. third-quarter 2013. WPX’s crude oil [...]
WPX Energy (NYSE:WPX) today announced three personnel moves on its senior leadership team as the company executes on its long-term vision and business strategy. “Focusing on operational performance, technical excellence and margin expansion is going to take WPX further,” said Rick Muncrief, WPX president and chief executive officer. “Our organizational capacity is essential to our plan. We have dynamic talent at WPX [...]
WPX Energy (NYSE:WPX) announced today a strategy to simplify its geographic focus and expand returns, margins and cash flow over the next five years. Key to the company’s strategy are three core resource plays in North Dakota, New Mexico and Colorado where WPX has an estimated 16,000 remaining drillable locations on a gross basis, more than 14 trillion cubic feet of proved, probable and possible (3P) reserves at [...]
WPX Energy (NYSE:WPX) announced today that it expects to receive approximately $294 million for its international interests subject to the successful consummation of the definitive merger agreement entered into between privately held Pluspetrol Resources Corporation and Apco Oil and Gas International (NASDAQ:APAGF). WPX’s international interests include a 69 percent controlling equity interest in Apco Oil and Gas [...]
WPX Energy (NYSE:WPX) is hosting investor events in October and November to discuss the release of its multi-year business strategy and its third-quarter 2014 operations and financial results. Chief Executive Officer Rick Muncrief and members of senior management will lead the two events. Participants are encouraged to access both webcasts and the corresponding slides at www.wpxenergy.com. The slide presentations will [...]
WPX Energy (NYSE:WPX) announced today that it has priced an offering of $500 million aggregate principal amount of senior unsecured notes due 2024, which will carry an interest rate of 5.25 percent. The notes were sold to the public at par. WPX plans to use proceeds from the offering to repay borrowings under its revolving credit facility and to pay related transaction fees and expenses. The offering is expected to [...]
WPX Energy (NYSE:WPX) President and Chief Executive Officer Rick Muncrief is scheduled to speak at the Barclays CEO Energy-Power Conference on Wednesday, Sept. 3. Muncrief’s presentation is scheduled to begin at approximately 1:45 p.m. Eastern. Please visit www.wpxenergy.com on the day of the event to confirm the time, see the slides and listen to the presentation. Muncrief joined WPX in May after serving as senior [...]
WPX Energy (NYSE:WPX) announced today that it closed an agreement to jointly develop its Trail Ridge properties with TRDC LLC, a subsidiary of Houston-based G2X Energy. The Trail Ridge development is part of WPX’s position in western Colorado’s Piceance Basin Highlands. WPX will remain as operator. “We’re bringing value forward by accelerating the development of what has been a quiet part of our Piceance holdings [...]
WPX Energy (NYSE:WPX) announced today that it has executed multiple agreements to deepen the company’s investment opportunities as it focuses on margin improvement. The transactions, which are subject to normal closing conditions, will enable WPX to divest its mature coalbed methane holdings and bolster high-growth San Juan oil acreage by more than 50 percent. “We’re moving quickly to build scale and create additional [...]
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