WPX Energy (NYSE:WPX) announced today that it has extended its offer to
exchange all of its privately placed outstanding 5.250 percent Senior
Notes due 2017 for like principal amounts of newly registered 5.250
percent Senior Notes due 2017, and all of its privately placed
outstanding 6.000 percent Senior Notes due 2022 for like principal
amounts of newly registered 6.000 percent Senior Notes due 2022, until 5
p.m., New York City time, on Monday, June 25, 2012. The offer was
previously scheduled to expire at 5 p.m., New York City time, on June
As of 5 p.m. New York City time on Thursday, June 21, 2012, holders of
$398,673,000 aggregate principal amount of the outstanding 5.250 percent
Senior Notes due 2017 (constituting approximately 99.7 percent of the
principal amount of such outstanding notes), and $1,099,000,000
aggregate principal amount of the outstanding 6.000 percent Senior Notes
due 2022 (constituting approximately 99.9 percent of the principal
amount of such outstanding notes), have delivered valid tenders or
notices of guaranteed delivery pursuant to the offer.
Except as set forth herein, the terms and conditions of the offer remain
unchanged. WPX Energy may further extend the expiration date of the
offer in its sole discretion.
The exchange offer, which is required by the registration rights
agreements for the outstanding notes, is being made pursuant to the
prospectus dated May 23, 2012. Copies of the exchange offer prospectus
and related transmittal materials governing the exchange offer are
available from the exchange agent – The Bank of New York Mellon Trust
Company, N.A., at:
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Corporation
Corporate Trust Operations—Reorganization Unit
101 Barclay Street, Floor 7 East
New York, N.Y. 10286
Attn: Diane Amoroso
This press release does not constitute an offer to sell or solicitation
of an offer to buy such securities.
About WPX Energy, Inc.
WPX Energy is an exploration and production company focused on
developing its significant natural gas, natural gas liquids and oil
reserves, particularly in the Piceance Basin, Bakken Shale and Marcellus
Shale. WPX also has domestic operations in the Powder River and San Juan
basins, as well as international investments in Argentina and Colombia.
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This press release includes “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, included in this
press release that address activities, events or developments that the
company expects, believes or anticipates will or may occur in the future
are forward-looking statements. Such statements are subject to a number
of assumptions, risks and uncertainties, many of which are beyond the
control of the company. Statements regarding future drilling and
production are subject to all of the risks and uncertainties normally
incident to the exploration for and development and production of oil
and gas. These risks include, but are not limited to, the
volatility of oil, natural gas and NGL prices; uncertainties inherent in
estimating oil, natural gas and NGL reserves; drilling risks;
environmental risks; and political or regulatory changes. Investors
are cautioned that any such statements are not guarantees of future
performance and that actual results or developments may differ
materially from those projected in the forward-looking statements. The
forward-looking statements in this press release are made as of the date
of this press release, even if subsequently made available by WPX Energy
on its website or otherwise. WPX Energy does not undertake and
expressly disclaims any obligation to update the forward-looking
statements as a result of new information, future events or otherwise.
Investors are urged to consider carefully the disclosure in our
filings with the Securities and Exchange Commission, available from us
at WPX Energy, Attn: Investor Relations, P.O. Box 21810, Tulsa,
Okla., 74102, or from the SEC’s website at www.sec.gov.