Gulf Oil and Gas accountACCOUNT

WPX Energy Secures $1.2 Billion Credit Facility

Source: www.gulfoilandgas.com 3/18/2016, Location: North America

WPX Energy has amended and restated its revolving credit facility. WPX received total commitments of $1.2 billion on a senior secured facility, with an initial borrowing base of $1.025 billion. The revolver matures on October 29, 2019.

The amended terms and covenants provide WPX with increased flexibility and full access to the facility. The size of the revolver is based on the previously announced sale of the company's Piceance subsidiary, which is expected to close in early second-quarter 2016.

Kevin Vann, WPX senior vice president and chief financial officer, said, “This facility provides clarity and a validation of the positive financial health of the company. Most importantly, it gives us ample liquidity for a post-Piceance WPX as we prepare to close that asset sale in the second quarter.”

Financials and Investment News in United States >>

Egypt >>  12/8/2019 - Egypt’s spending on fuel subsidies dropped by about 69% year on year to EGP 7.25 billion ($451 million) in July-September, Petroleum Minister Tarek El...
Saudi Arabia >>  12/8/2019 - Saudi oil behemoth Aramco has set a share price that will value the company's initial public offering (IPO) at $25.6 billion (€23 billion), making it ...

United States >>  12/4/2019 - Byron Energy has signed a binding Secured Promissory Note with Crimson Midstream Operating, a portfolio company of The Carlyle Group, to borrow an ini...
United Kingdom >>  12/2/2019 - UK Oil & Gas PLC has raised £2 million ("Proceeds") from a single institutional investor through a placing ("Placing") of 235,294,117 new ordinary sha...

United States >>  12/2/2019 - McDermott International, Inc. has been granted access to the second tranche ("Tranche B") of the $1.7 billion superpriority senior secured credit faci...
United Kingdom >>  11/29/2019 - Gulfsands Petroleum plc, the oil and gas company focused on the Middle East region, is pleased to announce that at its General Meeting (“AGM”) held ye...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.