Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/wpx-completes-sale-of-van-hook-gathering-system.shtmlWPX completes sale of Van Hook gathering system
WPX Energy has completed the sale of a North Dakota gathering system for approximately $185 million to a private equity fund managed by the Ares EIF Group, a subsidiary of Ares Management, L.P.
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WPX Energy has completed the sale of a North Dakota gathering system for approximately $185 million to a private equity fund managed by the Ares EIF Group, a subsidiary of Ares Management, L.P.
The sale is part of WPX’s deleveraging plan targeting $400-$500 million in divestitures by the end of 2015. WPX also recently completed an $80 million sale of its coalbed methane properties in Wyoming.
WPX is working to reduce debt from a transformative acquisition in August that added decades of drilling inventory in the core of the Permian’s Delaware Basin.
