WPX Energy Announces Public Offering of Common Stock
January 12 2017 - 4:02PM
Business Wire
WPX Energy (NYSE: WPX) announced today that it has commenced an
underwritten public offering of 42,000,000 shares of its common
stock. Pursuant to the offering, WPX intends to grant the
underwriter a 30-day option to purchase up to an additional
6,300,000 shares of WPX’s common stock.
The underwriter intends 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.
WPX intends to use the net proceeds from the offering and cash
on hand to finance the acquisition of certain assets of Panther
Energy Company II, LLC and CP2 Operating LLC (the “Acquisition”)
and to pay related fees and expenses. The completion of the
offering is not conditioned upon the Acquisition, and if the
Acquisition is not consummated, WPX would use the net proceeds from
the offering for working capital needs or general corporate
purposes (which may include the repayment of indebtedness and other
acquisitions).
Credit Suisse Securities (USA) LLC is acting as lead
book-running manager 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) LLC, Prospectus
Department (1-800-221-1037), Eleven Madison Avenue, New
York, NY, 10010 or newyork.prospectus@credit-suisse.com.
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,”
including but not limited to those regarding the proposed
Acquisition. 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. 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/20170112006002/en/
WPX EnergyMedia Contact:Kelly Swan,
539-573-4944orInvestor Contact:David Sullivan,
539-573-9360
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