Simpson Thacher represented the underwriters, led by BofA Securities, Inc., in connection with an SEC-registered offering by WPX Energy, Inc. (“WPX”) of $600 million aggregate principal amount of its 5.25% Senior Notes due 2027. WPX used the net proceeds from the offering to fund a tender offer to purchase for cash up to $550 million aggregate principal amount of certain of its outstanding senior notes, settlement of which occurred concurrently with the completion of the notes offering, and intends to use the remaining net proceeds for general corporate purposes, which may include the repayment or redemption of outstanding indebtedness.
Simpson Thacher also represented BofA Securities, Inc., as dealer manager, in connection with a tender offer by WPX to purchase for cash up to $550 million aggregate principal amount of certain of its outstanding senior notes.
WPX is an independent energy producer with core positions in the Permian and Williston basins. WPX also has an infrastructure portfolio in the Permian Basin.
The Simpson Thacher team for the transaction included Brian Rosenzweig, Lesley Peng, Brian Mathes, Della Fok and Michael Paparozzi (Capital Markets); Jonathan Cantor and Sarah Katz (Tax); Jennie Getsin (FINRA); Jamin Koslowe and Monisha Bhayana (ECEB); and Tim Mulvihill (Environmental).