WPX Energy Announces Pricing of Common Stock Offering
June 06 2016 - 9:35AM
Business Wire
WPX Energy (NYSE: WPX) announced today that it has priced a
public offering of 49,500,000 shares of its common stock for total
gross proceeds (before estimated expenses) of approximately $485
million.
Pursuant to the offering, WPX intends to grant the underwriters
a 30-day option to purchase up to an additional 7,425,000 shares of
WPX’s common stock.
The underwriters intend to offer the shares from time to time
for sale in one or more transactions on the New York Stock
Exchange, in the over-the-counter market, through negotiated
transactions or otherwise at market prices prevailing at the time
of sale, at prices related to prevailing market prices or at
negotiated prices. The offering is expected to close on or around
June 9, 2016, subject to customary closing conditions.
WPX intends to use the net proceeds from the offering for
general corporate purposes, which may include an acceleration of
drilling and completion activities, bolt-on acreage acquisitions
and midstream infrastructure in the Delaware Basin.
Credit Suisse Securities (USA), LLC, BofA Merrill Lynch,
Barclays, and Citigroup are acting as joint book-running managers
for the offering.
The offering is being made pursuant to an effective shelf
registration statement of WPX previously filed with the Securities
and Exchange Commission. The offering may be made only by means of
a prospectus supplement and the accompanying base prospectus.
Copies of the preliminary prospectus supplement for the offering
and the accompanying base prospectus may be obtained by sending a
request to:
Credit Suisse Securities (USA), LLCAttn: Prospectus
DepartmentOne Madison AvenueNew York, NY 10010Phone: (800)
221-1037Email: newyork.prospectus@credit-suisse.com
BofA Merrill Lynch200 North College Street, 3rd FloorCharlotte,
N.C. 28255-0001Attn: Prospectus DepartmentEmail:
dg.prospectus_requests@baml.com
Barclaysc/o Broadridge Financial Solutions1155 Long Island
AvenueEdgewood, NY 11717Phone: (888) 603-5847Email:
Barclaysprospectus@broadridge.com
Citigroupc/o Broadridge Financial Solutions1155 Long Island
AvenueEdgewood, New York 11717Phone: (800) 831-9146
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any state or jurisdiction in which such offer,
solicitation or sale of these securities would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About WPX Energy, Inc.
WPX is an oil-focused energy company with
operations in the Permian Basin in Texas and New Mexico, the
Williston Basin in North Dakota, and the San Juan Basin in New
Mexico and Colorado. Our principal executive office is located at
3500 One Williams Center, Tulsa, Okla., 74172.
This press release includes “forward-looking statements.” All
statements, other than statements of historical facts, included in
this press release that address activities, events or developments
that the company expects, believes or anticipates will or may occur
in the future are forward-looking statements. Such statements are
subject to a number of assumptions, risks and uncertainties, many
of which are beyond the control of WPX. Investors are cautioned
that any such statements are not guarantees of future performance
and that actual results or developments may differ materially from
those projected in the forward-looking statements. The
forward-looking statements in this press release are made as of the
date of this press release, even if subsequently made available by
WPX on its website or otherwise. WPX does not undertake and
expressly disclaims any obligation to update the forward-looking
statements as a result of new information, future events or
otherwise. Investors are urged to consider carefully the disclosure
in our filings with the Securities and Exchange Commission at
www.sec.gov.
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version on businesswire.com: http://www.businesswire.com/news/home/20160606005892/en/
WPX Energy, Inc.Media Contact:Kelly Swan,
539-573-4944orInvestor Contact:David Sullivan,
539-573-9360
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