WPX Energy Announces Public Offering of Senior Notes
August 08 2017 - 8:00AM
Business Wire
WPX Energy (NYSE: WPX) announced today that it has commenced an
underwritten public offering of $150 million of its 5.25% Senior
Notes due 2024. The notes are expected to rank equally with, and be
treated as a single class with, the $500 million aggregate
principal amount of currently outstanding 5.25% Senior Notes due
2024 previously issued by WPX.
WPX intends to use the net proceeds from the offering, together
with, if required, borrowings under WPX’s senior secured credit
facility, to fund the purchase of up to $150 million aggregate
principal amount of its outstanding 7.500% Senior Notes due 2020,
8.250% Senior Notes due 2023 and 6.000% Senior Notes due 2022
through cash tender offers. Any excess net proceeds will be used
for general corporate purposes, which may include the repayment or
redemption of outstanding indebtedness.
Wells Fargo Securities, LLC is acting as 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:
Wells Fargo Securities, LLC Attn: WFS Customer Service 608
2nd Ave S, Suite 1000 Minneapolis, MN 55402 Telephone:(800)
645-3751 Opt 5
Email:
wfscustomerservice@wellsfargo.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.
The tender offers are being made solely pursuant to WPX’s Offer
to Purchase dated August 8, 2017 and this press release does not
constitute an offer to purchase any securities.
About WPX Energy, Inc.
WPX has posted double-digit oil volume growth each of the past
five years. The company is active in the Delaware, Williston
and San Juan basins. The Delaware Basin is the western
portion of the greater Permian Basin.
This press release includes “forward-looking statements,”
including, but not limited to, those regarding the proposed
offering and the use of proceeds. 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/20170808005762/en/
WPX Energy, Inc.Media Contact:Kelly Swan,
539-573-4944orInvestor Contact:David Sullivan,
539-573-9360
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