Oil and Gas 360 Devon Energy Corporation (“Devon”) (NYSE: DVN) and WPX Energy, Inc. (“WPX”) (NYSE: WPX) today announced the successful completion of their previously announced all-stock merger of equals, creating a leading energy producer in the U.S., with an asset base underpinned by a premium acreage position in the economic core of the Delaware Basin. The combined company will
Reuters U.S. oil and gas producer Devon Energy Corp DVN.N said on Monday it will buy Permian basin peer WPX Energy Inc WPX.N for $2.56 billion as it looks to scale up its presence in the Delaware portion of the prolific shale field. The deal values WPX at $4.56 per share, just 2.7% higher than the stock’s closing price on Friday. WPX shares surged
By Tyler Losier, Energy Reporter, Oil & Gas 360 Commercial operations begin at the Bear Den II processing plant Crestwood Equity Partners LP (stock ticker: CEQP), a Houston-based master limited partnership, has begun commercial operations at its Bear Den II processing plant in Watford City, North Dakota. The Bear Den II facility is a 120 million cubic feet per day
Follow WPX’s lead: develop, sell pipeline infrastructure in Texas A subsidiary of WPX Energy (stock ticker: WPX) and its joint venture partner in the Oryx II pipeline have completed the sale of a pipeline project. WPX received net proceeds of approximately $350 million for its 25% equity interest in Oryx II after adjusting for debt financing related to Oryx II.
Additional acreage dedication will drive further growth By Richard Rostad, analyst, Oil & Gas 360 Additional gas takeaway has arrived for the Delaware Basin, helping to alleviate the worst takeaway crunch in U.S. shale. Howard Energy Partners announced it has completed several projects in the Delaware, bringing significant volumes of processing and takeaway online. Howard has extensive operations in the
From the Journal of Petroleum Technology WPX Energy’s decision to reconfigure its portfolio and buy into the Permian during the downturn was a bold one not viewed favorably by its shareholders at the time. Now, with its operator peers bidding almost $100,000/acre for nearby land, the company can confidently say it was a pacesetter. “We had the sheer opportunity under
WPX Energy (NYSE: WPX) today announced the expected conversion rate for the company’s 6.25 percent Series A Mandatory Convertible Preferred Stock issued on July 22, 2015. WPX has approximately 4.8 million shares of preferred stock outstanding. Holders of the preferred stock are expected to receive 4.1254 shares of WPX common stock for each share of preferred stock they hold on
WPX Energy, Inc. (NYSE: WPX) Company Overview WPX Energy, headquartered in Tulsa, OK, is an independent energy producer with core positions in the Permian and Williston basins. WPX’s production is approximately 80 percent oil/liquids and 20 percent natural gas. The company also has an emerging infrastructure portfolio in the Permian Basin. WPX was early to position itself to beat the
Last week a new report was released that detailed a “stunning” production forecast for the Permian. The Permian is forecasted to more than double its 2017 oil production level of 2.5 MMb/d to 5.4 MMb/d by 2023, according to IHS Markit. However, there is a sticky problem in the Permian that producers are facing and it’s getting more acute by
From CNBC Billionaire investor Leon Cooperman predicted U.S. oil’s rise to $60 a barrel, and now he says it could hit $70. “I think the supply-demand outlook is favorable, and we would not be surprised to see oil reaching $70 a barrel,” the chairman and CEO of Omega Advisors told CNBC’s “Fast Money: Halftime Report” on Wednesday. Cooperman made his comments despite
An exclusive Oil & Gas 360® interview with WPX Energy VP of Midstream and Marketing Greg Horne, as WPX and Howard Energy Partners step on the accelerator In the early days of summer, WPX Energy (ticker: WPX) and privately held Texas midstream company Howard Energy Partners announced that the two companies had agreed to form a joint venture to develop
WPX Energy Breakout Notes Clay Gaspar, COO and senior vice president of WPX Energy, Inc., (ticker: WPX) presented today at EnerCom’s The Oil & Gas Conference® 22. Tulsa-headquartered WPX Energy is an oil and gas producer with operations in the Delaware, Williston, and San Juan basins. The company’s development focus is currently on its Delaware assets, but it still has
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