5 Jan 2021director interest notice● Neutral
WPX ENERGY, INC. EVP Business Development Bryan K Guderian had 9,188 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Dec 2020director interest notice● Neutral
WPX ENERGY, INC. Chairman and CEO Richard E Muncrief gifted 45,686 shares.
22 Dec 2020business combination● Neutral
On December 22, 2020, WPX disclosed that twelve stockholder lawsuits had been filed over the Devon merger (eleven by purported WPX holders, one by a Devon holder). They claim the proxy statement omitted material information, and one putative class action also alleges fiduciary-duty breaches. They seek to block the merger and damages. WPX says the claims are without merit, but voluntarily added disclosures to the proxy, including that a rival 'Company C' had proposed an 80% stock/20% cash deal at an implied $6.20 per WPX share, which the board chose not to pursue in favour of Devon. This continues the Devon merger thread ahead of the December 30 vote.
17 Dec 2020director interest notice● Neutral
WPX ENERGY, INC. EVP Business Development Bryan K Guderian sold 213,067 shares.
15 Dec 2020director interest notice● Neutral
WPX ENERGY, INC. EVP CFO J Kevin Vann sold 102,146 shares at $8.25.
4 Dec 2020director interest notice● Neutral
WPX ENERGY, INC. VP Controller and CAO Stephen L Faulkner Jr. sold 25,000 shares at $8.25.
25 Nov 2020director interest notice● Neutral
WPX ENERGY, INC. EVP CFO J Kevin Vann sold 180,000 shares at $7.75.
24 Nov 2020business combination● NeutralMajor
On November 24, 2020, WPX filed the final joint proxy statement/prospectus with Devon for the merger. Special meetings of both companies' shareholders are set for December 30, 2020; WPX holders vote on adopting the merger agreement, which needs a majority of outstanding WPX shares. The WPX board unanimously recommends voting for it, and EnCap-affiliated holders have agreed to vote their WPX shares in favour. The fixed 0.5165 ratio was worth about $4.53 per WPX share at Sept 25 and about $6.59 at Nov 18, so the value moves with Devon's share price. This continues the Devon merger thread.
3 Nov 2020quarterly activities report▼ Bad
WPX ENERGY, INC. reported quarterly revenue of $473.0 million and a net loss of $155.0 million for the period ended 2020-09-30.
2 Nov 2020agm notice● Neutral
WPX ENERGY, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
2 Nov 2020quarterly activities report▼ Bad
WPX ENERGY, INC. reported quarterly revenue of $473.0 million and a net loss of $155.0 million for the period ended 2020-09-30.
1 Oct 2020substantial holder notice● Neutral
Felix Investments Holdings II, LLC, Felix Energy Investments II, LLC, EnCap Energy Capital Fund X, L.P, EnCap Partners GP, LLC reported a WPX ENERGY, INC. shareholding of 152,910,532 shares (27.30% of votes) in a periodic institutional filing.
28 Sept 2020business combination● NeutralMajor
On September 26, 2020, WPX agreed to a 'merger-of-equals' with Devon Energy: each WPX share would convert into 0.5165 Devon shares, and WPX would become a wholly-owned Devon subsidiary. WPX holders would own about 43% of the combined company and Devon holders 57%. The deal needs WPX and Devon shareholder approval, antitrust clearance and other customary conditions; either side can walk away if it has not closed by March 26, 2021, and a $75 million termination fee applies in certain cases. WPX's CEO would become CEO of the combined company, and the board would have 12 members (7 Devon designees, 5 WPX designees). This starts the process that ultimately replaces WPX shares with Devon shares.
31 July 2020quarterly activities report▼ Bad
WPX ENERGY, INC. reported quarterly revenue of $33.0 million and a net loss of $409.0 million for the period ended 2020-06-30.
29 July 2020quarterly activities report▼ Bad
WPX ENERGY, INC. reported quarterly revenue of $33.0 million and a net loss of $409.0 million for the period ended 2020-06-30.
9 July 2020director interest notice● Neutral
WPX ENERGY, INC. director Felix Investments Holdings Ii, LLC acquired 1,380,895 shares at $10.46 under a company stock plan.
17 June 2020material agreement● Neutral
On June 17, 2020, WPX completed the $500 million offering of 5.875% Senior Notes due June 15, 2028, priced at par, with interest paid each June 15 and December 15 starting December 15, 2020. This closes the offering launched on June 3, whose stated purpose was to fund tender offers for its 2022, 2023 and 2024 notes; this filing itself does not report the tender results.
5 June 2020securities registration● Neutral
WPX ENERGY, INC. filed the final prospectus for a registered offering.
3 June 2020securities registration● Neutral
WPX ENERGY, INC. filed a free-writing prospectus - marketing material for an offering in progress.
3 June 2020production update▼ BadMajor
On June 3, 2020, WPX launched a $500 million senior notes offering due 2028, with proceeds meant to fund cash tender offers for up to $500 million of its 6.000% 2022, 8.250% 2023 and 5.250% 2024 notes. It also said oil prices fell because of COVID-19 and OPEC+ actions, cut 2020 capital spending to about $900 million to $1.2 billion, shut in about 30,000 barrels a day net in May (now being brought back as prices recovered), and reported liquidity of about $1.4 billion at March 31, 2020. The credit facility borrowing base was affirmed at $2.1 billion in April 2020, and the company said it has hedged much of its 2020 oil production. This partly answers the open question about refinancing the 2022 notes.
3 June 2020securities registration● Neutral
WPX ENERGY, INC. filed a prospectus supplement for an offering off its existing shelf.
27 May 2020agm notice● Neutral
WPX ENERGY, INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
26 May 2020director interest notice● Neutral
WPX ENERGY, INC. director Kimberly S Lubel received 23,293 shares as part of the equity award.
26 May 2020director interest notice● Neutral
WPX ENERGY, INC. director Valerie Williams received a stock option grant for 23,293 shares.
26 May 2020director interest notice● Neutral
WPX ENERGY, INC. director Kelt Kindick received 23,293 shares as part of the equity award.
26 May 2020director interest notice● Neutral
WPX ENERGY, INC. director John A Carrig received a stock option grant for 23,293 shares.
26 May 2020director interest notice● Neutral
WPX ENERGY, INC. director Robert Herdman received a stock option grant for 23,293 shares.
26 May 2020director interest notice● Neutral
WPX ENERGY, INC. director Karl F Kurz received 23,293 shares as part of the equity award.
26 May 2020director interest notice● Neutral
WPX ENERGY, INC. director Douglas E Swanson Jr. received 28,143 shares as part of the equity award.
26 May 2020director interest notice● Neutral
WPX ENERGY, INC. director D Martin Phillips received 28,143 shares as part of the equity award.