WPX Energy is entering the US Permian basin via a $2.35 billion cash and stock buyout of privately-held RKI Exploration & Production that analysts praised as a shrewd acquisition in a competitive asset market.
The RKI buyout will give WPX access to about 92,000 acres on the Delaware side of the Permian basin, primarily in Loving County, Texas and Eddy County, New Mexico, 22,000 barrels of oil equivalent per day of current production and extensive production takeaway and water-handling infrastructure.
WPX
