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WPX completes sale of Van Hook gathering system


Published Nov 20, 2015
WPX Energy-2

WPX Energy has completed the sale of a North Dakota gathering system for approximately $185 million to a private equity fund managed by the Ares EIF Group, a subsidiary of Ares Management, L.P.

The sale is part of WPX’s deleveraging plan targeting $400-$500 million in divestitures by the end of 2015. WPX also recently completed an $80 million sale of its coalbed methane properties in Wyoming.

WPX is working to reduce debt from a transformative acquisition in August that added decades of drilling inventory in the core of the Permian’s Delaware Basin.

Tags: WPX Energy




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