💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

WPX Energy exits San Juan Basin in $700M asset sale

Published 02/05/2018, 08:49 AM
© Reuters.  WPX Energy exits San Juan Basin in $700M asset sale
WPX
-
  • WPX Energy (NYSE:WPX) agrees to sell its holdings in the San Juan Basin’s Gallup oil play for $700M to an undisclosed buyer.
  • The deal completes WPX’s exit from the San Juan Basin, and the company says it will now focus on its remaining core positions in the Permian’s Delaware Basin and North Dakota’s Williston Basin.
  • With the sale, WPX revises its 2018 volume guidance to 75K-80K bbl/day of oil and 117K-126K boe/day; its original 2018 capital budget of $1.1B-$1.2B is unchanged.
  • WPX says the sale speeds its deleveraging efforts, and the company believes it can reduce its net debt/EBITDAX to a target level of 1.5x during 2019.
  • Now read: The Bakken Strikes Back


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.