WPX Energy to buy privately held RKI

摘要

Houston-Western US operator WPX Energy has inked an agreement to acquire privately held RKI Exploration & Production for $2.75 billion, including $400 million of debt, moving the company into the Permian Basin. The deal is one of the first large transactions in the wake of plummeting oil prices. Analysts particularly expected deals in the Permian, sited in West Texas/New Mexico, because it is the most active US basin. On Tuesday, WTI closed up 84 cents to $53.04/b. WPX chief Rick Muncrief admitted low oil prices triggered the deal, which he called “transformative.”