san juan


WPX Energy (NYSE: WPX) has signed an agreement to sell its holdings in the San Juan Basin’s Gallup oil play for $700 million to an undisclosed third party. Closing is expected to occur in the first quarter. The divestiture accelerates WPX’s stated deleveraging efforts, with a significant portion of the proceeds slated for debt reduction. WPX now believes it can reduce its net debt/EBITDAX to a target level of 1.5x during 2019. The transaction

ArcLight Commits to Second Partnership with LOGOS Resources, Acquiring 129,000 Acres in San Juan Basin

BOSTON, MA and FARMINGTON, NM (July 25, 2016) – Private equity funds managed by ArcLight Capital Partners, LLC recently closed a $150 million commitment to back LOGOS Resources, a leading developer of oil and natural gas production assets in the San Juan Basin. The commitment represents ArcLight’s second partnership with LOGOS, following its original investment in 2012. The commitment to LOGOS, which also includes commitments from the LOGOS management team

Energen Closes, Signs PSAs on Assets in Delaware and San Juan Basins

Gross Proceeds Exceed $550 MM Capital Investment in 2016 Increased to $450 MM as Additional Delaware DUCs Planned BIRMINGHAM, Ala.–(BUSINESS WIRE)–Jun. 20, 2016– Energen Corporation (NYSE: EGN) today announced that it has closed or signed purchase and sale agreements (PSAs) for its non-core Delaware Basin and San Juan Basin assets. Including all sales transactions with multiple, undisclosed buyers, the total gross proceeds of $551.7 million are subject to standard closing