Simpson Thacher represented the underwriters, led by Wells Fargo Securities, LLC, BofA Securities, Inc. and TD Securities (USA) LLC, in connection with an SEC-registered offering by WPX Energy, Inc. (“WPX”) of $500 million aggregate principal amount of its 5.875% Senior Notes due 2028. WPX plans to use the net proceeds from the offering to fund a tender offer to purchase for cash up to $500 million aggregate principal amount of certain of its outstanding senior notes 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 is representing Wells Fargo Securities, LLC and MUFG Securities Americas Inc. as dealer managers in connection with a tender offer by WPX to purchase for cash up to $500 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, Michael Paparozzi and Rick Titcomb (Capital Markets); Nancy Mehlman and Morgan Otway (Tax); Jennie Getsin (FINRA); Jamin Koslowe and Monisha Bhayana (ECEB); and Tim Mulvihill (Environmental).