WPX Energy Sells San Juan Basin System, Meets Divestiture Target

摘要

WPX Energy has agreed to sell its San Juan Basin gathering system in New Mexico for more than $300 million as the company pays down debt after a large acquisition in the Permian Basin last year. Tulsa-based WPX said it will receive about $285 million in cash plus a commitment from the buyer to invest $24 million to expand the northern New Mexico system. The buyer is said to be a portfolio company of ISQ Global Infrastructure Fund, managed by I Squared Capital.