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WPX upsizes senior note offering to $600M

WPX Energy Inc. priced and upsized a previously announced offering of its 5.250% senior notes due 2027, increasing the offering to $600 million from $500 million.

The expected proceeds from the offering are about $592.5 million, after deducting any the underwriting discounts and commissions but before the expected offering expenses payable by the independent energy producer, according to a Sept. 10 news release.

The proceeds from the offering would be used to fund its cash tender offers for the company's outstanding 6.000% senior notes and 8.250% senior notes due 2022 and 2023, respectively, and other general corporate purposes.

Bank of America Merrill Lynch, J.P. Morgan and MUFG are the lead book-running managers for the offering, which is expected to close Sept. 24.

WPX is an independent energy producer, operating largely in the Permian and Williston basins.