WPX Closes $169 Million Non-Core Asset Sale
WPX ENERGY (WPX)
Last wpx energy earnings: 2/26 04:15 pm
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Source: Business Wire
TULSA, Okla.--(BUSINESS WIRE)-- WPX Energy (NYSE: WPX) has completed the divestiture of its legacy natural gas position in the San Juan Basin. The sales price was $169 million, subject to typical closing adjustments. The transaction includes WPX’s operated and non-operated gas properties in the basin. The sale does not include WPX’s oil operations in the basin’s Gallup play. WPX expects to finish 2017 with approximately $200 million cash on-hand and no borrowings against its credit revolver. All of WPX’s $1.2 billion revolver capacity is available, with the exception of $70 million in outstanding letters of credit. CIBC Griffis & Small provided financial and technical advisory services to WPX for the transaction. About WPX Energy, Inc. WPX has posted double-digit oil volume growth for five straight years. The company is active in the Delaware, Williston and San Juan
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