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A&D - WPX builds Delaware scale in $2.5B Felix Energy acquisition - December 2019
Permian and Bakken producer WPX Energy is the latest consolidator in the world’s most active oil basin, announcing a $2.5 billion cash-and-stock deal on Dec. 16 to acquire EnCap-backed Permian producer Felix Energy. WPX will add 58,500 net acres with 1,500 undeveloped locations in the eastern Delaware basin with anticipated 2Q20 net production of 60,000 boe/d (70% oil). The assets are expected to provide $70 million of free cash flow in 2020 at $50/bbl......
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