WPX will erase $164 million in letters of credit and associated interest and $400 million in demand obligations through 2032.
Few transactions have emerged in the Eagle Ford in 2016 but a new company is using the 'acquire and exploit' model to cut deals with large leaseholders for noncore assets.
Two companies said they obtained equity commitments on May 24 while another equity fund raised $600 million.
The company purchased mineral rights under its existing acreage to increase its working interest and net revenue interest.
Even companies with large inventories continue to seek out value in buying companies. Goldman Sachs rated companies in a point system that determines the likelihood of M&A activity. Top picks include RSP Permian.
FMC Technologies will contribute 39% of the company’s enterprise value and own 49% of a stake in the merger with Technip. But is it worth it?