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WPX Energy closes upsized $600M offering of senior notes

WPX Energy Inc. closed its previously upsized offering of $600 million of its 5.250% senior notes due 2027, according to a Sept. 24 SEC filing.

Interest on the notes, which will mature on Oct. 15, 2027, is payable in cash in arrears every April 15 and Oct. 15 per year starting April 15, 2020.

WPX may redeem up to 35% of the notes at a redemption price equal to 105.250% of the principal amount any time before Oct. 15, 2022, or redeem some or all of the notes at a redemption price equal to 100% of the principal amount of the notes plus a "make-whole" premium. At any time after Oct. 15, 2022, the company may redeem the notes, in whole or in part, at the applicable redemption prices stated in the indenture.

WPX Energy is an Oklahoma-based independent oil and gas producer that operates mainly in the Permian and Williston basins.