Simpson Thacher represented the underwriters, led by Credit Suisse, in connection with the SEC-registered offering by WPX Energy, Inc. of 56,925,000 shares of common stock, representing the full exercise of the underwriters’ option to purchase additional shares, with net proceeds of approximately $538.4 million. WPX Energy intends to use the net proceeds from the offering for general corporate purposes, which may include an acceleration of drilling and completion activities, bolt-on acreage acquisitions and midstream infrastructure in the Delaware Basin.
WPX is an oil-focused energy company with operations in the Permian Basin in Texas and New Mexico, the Williston Basin in North Dakota, and the San Juan Basin in New Mexico and Colorado.
The Simpson Thacher team includes Ken Wallach, Lesley Peng, Brian E. Rosenzweig, Christine Marshall and Pablo Richards (Capital Markets); Jonathan Cantor and Taylor Alexander (Tax); Jennie Getsin (FINRA); Jamin Koslowe and Jennifer Pepin (ECEB); and Tim Mulvihill and Louise Kruger (Environmental). Summer Associate Stacie Friedman also provided valuable assistance.