7 May 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.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 May 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.
21 Apr 2020agm notice● Neutral
WPX ENERGY, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
31 Mar 2020agm notice● Neutral
WPX ENERGY, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
31 Mar 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).
16 Mar 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 disclosed a new substantial WPX ENERGY, INC. shareholding (26.60% of votes).
12 Mar 2020securities registration● Neutral
WPX ENERGY, INC. filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
6 Mar 2020asset acquisition disposition● NeutralMajor
WPX completed the Felix Energy Holdings II acquisition on March 6, 2020 for $2.5 billion: $900 million cash plus 152,963,671 new shares, subject to customary adjustments. Shareholders approved the share issuance on March 5 (361,554,336 for, 572,633 against, 795,193 abstaining), resolving the pending-deal thread; existing holders are now diluted by the new shares. At closing, Felix Parent gained the right to nominate up to two directors (D. Martin Phillips and Douglas E. Swanson, Jr. were appointed, taking the board to 12), two-thirds of its shares are locked up for 180 days, EnCap accepted standstill limits, and a registration rights agreement lets Felix Parent's shares be resold.
28 Feb 2020agm notice● Neutral
WPX ENERGY, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
26 Feb 2020agm notice● Neutral
WPX ENERGY, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
26 Feb 2020quarterly activities report▼ Bad
WPX ENERGY, INC. reported quarterly revenue of $1398.0 million and a net loss of $388.0 million for the period ended 2020-03-31.
12 Feb 2020substantial holder notice● Neutral
The Vanguard Group reported a WPX ENERGY, INC. shareholding of 38,775,577 shares (9.30% of votes) in a periodic institutional filing.
6 Feb 2020substantial holder notice● Neutral
BlackRock, Inc reported a WPX ENERGY, INC. shareholding of 37,388,228 shares (9.00% of votes) in a periodic institutional filing.
5 Feb 2020business combination● NeutralMajor
WPX filed the final proxy statement for a special meeting on March 5, 2020 (record date Feb 4, 2020) to vote on issuing 152,963,671 shares for the Felix acquisition, with the board unanimously recommending approval. This firms up the preliminary draft from January; the terms ($900 million cash plus the shares, about 27% of voting power) are unchanged.
28 Jan 2020substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP reported a WPX ENERGY, INC. shareholding of 15,620,379 shares (3.75% of votes) in a periodic institutional filing.
17 Jan 2020business combination● NeutralMajor
WPX filed a preliminary proxy statement asking shareholders to approve issuing 152,963,671 new shares (about 27% of voting power as of Dec 13, 2019) to Felix Parent as part of the $2.5 billion Felix acquisition ($900 million cash plus stock) signed Dec 15, 2019. The board unanimously recommends a yes vote, and the deal can close only if the share issuance is approved; the meeting date is still blank in this draft.
10 Jan 2020debt financing● NeutralMajor
On January 10, 2020, WPX completed a $900 million offering of 4.500% Senior Notes due January 15, 2030, with the proceeds held in escrow to fund part of the cash portion of the pending Felix acquisition. If the deal does not close by July 15, 2020 or WPX abandons it, the notes must be redeemed at 100% of issue price plus accrued interest. WPX also got a lender waiver so the issuance does not automatically reduce its credit facility borrowing base.
9 Jan 2020securities registration● Neutral
WPX ENERGY, INC. filed the final prospectus for a registered offering.
7 Jan 2020securities registration● Neutral
WPX ENERGY, INC. filed a free-writing prospectus - marketing material for an offering in progress.
7 Jan 2020agm notice● Neutral
WPX ENERGY, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
7 Jan 2020securities registration● Neutral
WPX ENERGY, INC. filed a prospectus supplement for an offering off its existing shelf.
17 Dec 2019agm notice● Neutral
WPX ENERGY, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
16 Dec 2019agm notice● Neutral
WPX ENERGY, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
16 Dec 2019capital raising announcement● NeutralMajor
On December 15, 2019, WPX agreed to buy 100% of Felix Energy Holdings II, LLC from Felix Investments Holdings II for $2.5 billion: $900 million in cash plus 152,963,671 new unregistered WPX shares (valued at $1.6 billion at $10.46 per share), both subject to adjustments and escrow holdbacks. Closing needs a WPX shareholder vote approving the share issuance, antitrust clearance and other conditions, with an outside date of July 16, 2020; this would be a large dilution of existing shareholders. Termination fees of $145.5 million (e.g. if the board changes its recommendation) or $45.5 million of expenses (if shareholders vote no) apply, and a registration rights agreement and a stockholders' agreement involving EnCap are planned at closing. The filing text was truncated, so remaining terms are not seen.
16 Dec 2019agm notice● Neutral
WPX ENERGY, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
31 Oct 2019quarterly activities report● Neutral
WPX ENERGY, INC. reported quarterly revenue of $795.0 million and net income of $121.0 million for the period ended 2019-09-30.
30 Oct 2019quarterly activities report● Neutral
WPX ENERGY, INC. reported quarterly revenue of $795.0 million and net income of $121.0 million for the period ended 2019-09-30.
24 Sept 2019material agreement● NeutralMajor
On September 24, 2019, WPX completed a $600 million registered offering of 5.250% Senior Notes due October 15, 2027, priced at par, with first interest payment April 15, 2020. The filing does not state what the proceeds will be used for.
12 Sept 2019securities registration● Neutral
WPX ENERGY, INC. filed the final prospectus for a registered offering.
10 Sept 2019securities registration● Neutral
WPX ENERGY, INC. filed a prospectus supplement for an offering off its existing shelf.