Weil Guides WPX In $2.35B Deal For RKI Exploration

Oil and gas producer WPX Energy Inc. said Tuesday it has agreed to buy the Permian Basin assets of RKI Exploration & Production LLC for $2.35 billion in a deal led by Weil Gotshal & Manges LLP, as the company continues to shift its portfolio to focus on oil.

RKI unit holders will receive 40 million shares of WPX stock in the transaction, with the balance of the purchase price being paid in cash. WPX will also assume $400 million in debt.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s