Corporate M&A

WPX Energy Completes Acquisition of Felix Energy

By Shriya Bhargava
March 06, 2020
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Tulsa-headquartered independent E&P company WPX Energy Inc. has completed its US$2.5 billion acquisition of Delaware basin producer Felix Energy from funds managed by EnCap Investments LP. The consideration was comprised of approximately 153 million shares of WPX stock and US$900 million in cash. The transaction, originally announced in mid-December, was approved by WPX shareholders at a special meeting held on March 5th, where more than 99.6% of votes cast were in favor of the transaction.

The acquisition includes approximately 60,000 barrels of oil equivalent per day (boe/d), taking WPX’s production to more than 150,000 boe/d from its operations in the Delaware and Williston basins.

Barclays and Tudor, Pickering, Holt & Co. acted as financial advisors to WPX, whilst Jefferies advised Felix on the transaction.

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