WPX Energy buys back $68 million of notes due 2017 at discount to par

By Susanna Moon

Chicago, Jan. 20 – WPX Energy, Inc. said it repurchased about $68 million, or 17%, of its $400 million notes due in early 2017 at a discount to par over the past two months.

WPX’s next debt maturity occurs in 2020, according to a company news release.

The company said it has been increasing its liquidity through asset sales.

“We continue to proactively manage our finances,” Rick Muncrief, WPX president and chief executive officer, said in the press release.

“This positions us to grow our portfolio when commodity prices rebound, especially our world-class Permian Delaware asset. The results of our early work in the basin are exceeding our expectations.”

Tulsa, Okla.-based WPX is a natural gas and oil exploration and production company.

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