WPX Energy Inc.

WPX Energy announced today a change in the location of its 2020 annual meeting of stockholders. In light of public health guidelines regarding the coronavirus or COVID-19, the company’s annual meeting will be held solely by remote communication in a virtual only format. The previously announced date and time of the meeting will not change. Stockholders at the close of business on the record date of March 30, 2020, are [...]

WPX Energy plans to discuss its first-quarter 2020 financial and operations results during a webcast on Thursday, May 7, 2020, beginning at 10 a.m. Eastern. Chief Executive Officer Rick Muncrief, Chief Operating Officer Clay Gaspar and Chief Financial Officer Kevin Vann will discuss the company’s performance. Investors are encouraged to access the event and the corresponding slides at www.wpxenergy.com. The slides for the [...]

WPX Energy is revising its plan for 2020, cutting $400 million – or approximately 25 percent – of its capital budget, with the flexibility to cut further. “We will continue to assess the market and adjust our activity levels as necessary. You can expect us to be flexible and focused on generating free cash flow,” said WPX Chairman and Chief Executive Officer Rick Muncrief. For 2020, WPX has 95,978 [...]

WPX Energy has completed its previously announced acquisition of Felix Energy, which has operations in the eastern portion of the Permian’s Delaware Basin. The acquisition was overwhelmingly approved by WPX shareholders at a special meeting held on March 5, 2020, where more than 99.6 percent of votes cast were in favor of the transaction. “I want to thank the Felix team for working with us to complete the [...]

WPX Energy reported fourth-quarter 2019 oil volumes of 111,700 barrels per day, which was 16 percent higher vs. a year ago and 3 percent higher than third-quarter 2019. WPX reported an unaudited fourth-quarter loss from continuing operations attributable to common stockholders of $121 million, or a loss of $0.29 per share on a diluted basis. The loss was driven by a $199 million net loss on derivatives primarily from [...]

WPX Energy plans to discuss its fourth-quarter and full-year 2019 financial and operations results during a webcast on Thursday, Feb. 27, 2020, beginning at 10 a.m. Eastern. Chief Executive Officer Rick Muncrief, Chief Operating Officer Clay Gaspar and Chief Financial Officer Kevin Vann will discuss the company’s performance. Investors are encouraged to access the event and the corresponding slides at [...]

WPX Energy announced today that it has closed its previously announced public offering of $900,000,000 million aggregate principal amount of 4.500% senior unsecured notes due 2030 at par. The proceeds were deposited into an escrow account upon the closing of the offering. Upon release from escrow, WPX Energy intends to use the proceeds to finance a portion of the cash consideration of the previously announced acquisition [...]

WPX Energy announced today that it has priced its previously announced offering of $900 million aggregate principal amount of 4.500% senior unsecured notes due 2030. The notes were sold to the public at par. The offering is expected to close on Jan. 10, 2020, subject to customary closing conditions. The net proceeds from the offering will be approximately $888.75 million, after deducting underwriting discounts and [...]

WPX Energy announced today that it has commenced a public offering of $900 million aggregate principal amount of senior unsecured notes. The proceeds of the proposed offering will be deposited into an escrow account upon the closing of the offering. Upon release from escrow, WPX Energy intends to use the proceeds to finance a portion of the cash consideration of the previously announced acquisition of Felix Energy [...]

WPX Energy is taking another significant step in its commitment to delivering shareholder value with the $2.5 billion purchase of Felix Energy, one of the highest quality Delaware Basin operators. Felix has approximately 1,500 gross undeveloped locations in the eastern portion of the basin, with expected production of approximately 60 MBoe/d at the time of anticipated closing. WPX plans to implement a dividend [...]