WPX Energy Announces Expiration and Final Results of Tender Offer for 2017 Senior Notes
April 29 2016 - 5:27PM
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and not validly withdrawn at or prior to the Expiration Time is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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version on businesswire.com: http://www.businesswire.com/news/home/20160429006129/en/
WPX Energy, Inc.Media Contact:Kelly Swan,
539-573-4944orInvestor Contact:David Sullivan,
539-573-9360
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