WPX Energy Announces Expiration and Final Results of Tender Offer for 2017 Senior Notes
TULSA, Okla.--(BUSINESS WIRE)--
WPX Energy (NYSE: WPX) announced today that its previously announced
cash tender offer (the “Offer”) to purchase any and all of its
outstanding 5.250 percent Senior Notes due 2017 (the “Notes”) expired at
5 p.m., New York City time, on April 29, 2016 (the “Expiration Time”).
At the Expiration Time, $93 million aggregate principal amount – or
approximately 31 percent – of outstanding Notes had been validly
tendered and accepted. This amount includes $6 million aggregate
principal amount of outstanding Notes tendered pursuant to guaranteed
delivery procedures described in the Offer to Purchase relating to the
Offer, which remain subject to the Note holders’ performance of the
delivery requirements under such procedures.
As previously announced, the total purchase price offered for each
$1,000 principal amount of Notes that were validly tendered and not
validly withdrawn at or prior to the Expiration Time is $1,015.00, plus
accrued and unpaid interest on the Notes to, but excluding, the
settlement date for Notes purchased in the Offer.
Payment will be made on May 2, 2016 (other than with respect to Notes
tendered pursuant to the guaranteed delivery procedures described in the
Offer to Purchase, with respect to which payment is expected to be made
on May 4, 2016).
About WPX Energy, Inc.
WPX is an oil-focused energy company with operations in the Permian’s
Delaware Basin, the Williston Basin and the San Juan Basin. The company
has reshaped its holdings through more than $5 billion of transactions
and posted double-digit oil volume growth in each of the past four years.
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 the company. 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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Source: WPX Energy Inc