trending Market Intelligence /marketintelligence/en/news-insights/trending/mdz0S5IB_mU0ryxnzTYa6g2 content esgSubNav
In This List

WPX completes $169M divestiture of noncore San Juan Basin gas assets


Despite turmoil, project finance remains keen on offshore wind

Case Study

An Energy Company Assesses Datacenter Demand for Renewable Energy


Japan M&A By the Numbers: Q4 2023


See the Big Picture: Energy Transition in 2024

WPX completes $169M divestiture of noncore San Juan Basin gas assets

WPX Energy Inc. said Dec. 21 that it completed the sale of its legacy natural gas position in the San Juan Basin for $169 million.

The deal includes WPX’s operated and nonoperated gas properties in the basin but excludes the company's oil operations in the basin's Gallup play.

The company did not disclose the buyer, but WPX had earlier in the month agreed to divest legacy gas properties and undeveloped Mancos Shale acreage in the San Juan Basin to ArcLight Capital Partners LLC-backed Logos Resources ll LLC.

WPX projected that it will end 2017 with cash on hand of about $200 million and no borrowings against its credit revolver. The company's $1.2 billion revolver capacity is available, with the exception of $70 million in outstanding letters of credit.

CIBC Griffis & Small provided financial and technical advisory services to WPX for the transaction.