On Wednesday, Shares of WPX Energy, Inc. (NYSE:WPX), lost - 7.35% to $10.96.
WPX Energy, declared a definitive merger agreement to acquire privately held RKI Exploration & Production, LLC for $2.35 billion plus the assumption of $400 million of debt.
The majority of RKI’s leasehold is located in Loving County, Texas, and Eddy County, N.M., where the company has four rigs deployed. RKI’s liquids-rich assets in the Permian Basin comprise:
- About 22,000 boe/d of existing production – more than half of which is oil
- About 92,000 net acres in the core of the Permian’s Delaware Basin – about 98 percent of which is held by production
- More than 3,600 gross risked drilling locations across stacked pay intervals
- More than 375 miles of scalable gas gathering and water infrastructure
The acquisition metrics comprise about $1.1 billion for the existing production at $50,000 per flowing barrel, about $500 million for the established midstream infrastructure, which equates to an average of $12,500 per acre – or $1.15 billion – for the undeveloped locations.
WPX Energy, Inc., an independent natural gas and oil exploration and production company, engages in the exploitation and development of unconventional properties in the United States.
Shares of Crescent Point Energy Corp (NYSE:CPG), declined -2.51% to $17.89, during its last trading session.
Crescent Point Energy Corp., confirmed that the dividend to be paid on August 17, 2015, in respect of July 2015 production, for shareholders of record on July 31, 2015, will be CDN$0.23 per share.
These dividends are designated as “eligible dividends” for Canadian income tax purposes. For U.S. income tax purposes, Crescent Point’s dividends are considered “qualified dividends.”
Crescent Point Energy Corp. acquires, explores, develops, and produces oil and natural gas properties in Western Canada and the United States. The companys oil and natural gas properties, and related assets are located in the provinces of Saskatchewan, Alberta, and Manitoba; and the states of North Dakota, Montana, Colorado, and Utah. Crescent Point Energy Corp. is headquartered in Calgary, Canada.
Finally, ImmunoGen, Inc. (NASDAQ:IMGN), ended its last trade with 0.06% gain, and closed at $16.91.
ImmunoGen, declared that the Company will host a conference call at 8:00 a.m. ET on Friday, July 31, 2015, to talk about ImmunoGen’s financial results for the three-month period and fiscal year ended June 30, 2015 and its guidance for its 2016 fiscal year. Administration also will provide an update on the Company.
ImmunoGen, Inc., a biotechnology company, develops targeted anticancer therapeutics. It develops its products using its antibody-drug conjugates technology. The company offers Kadcyla, an antibody-drug conjugate for the treatment of HER2-positive metastatic breast cancer.
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