BB&T Capital Markets Serves as a Co-Manager on WPX Energy Inc.’s Follow-On Equity Offering
BB&T Capital Markets’ Energy Group completed a transaction for an oil & natural gas exploration and production company in the second quarter of 2016, helping to raise $557,865,000 in gross proceeds for our client.
The Company intends to use the net proceeds from the offering for general corporate purposes, which may include an acceleration of drilling and completion activities, bolt-on acreage acquisitions and midstream infrastructure in the Delaware Basin. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 7,425,000 shares.
About the Companies
WPX Energy (“WPX” or “The Company”) is an oil-focused energy company with operations in the Permian Basin in Texas and New Mexico, the Williston Basin in North Dakota, and the San Juan Basin in New Mexico and Colorado. WPX Energy’s principal executive office is located in Tulsa, Oklahoma.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.