WPX Energy agreed to sell a North Dakota gathering system for approximately USD 185 million to a private equity fund managed by the Ares EIF Group. The transaction is part of the firm’s plan to divest USD 400 million to USD 500 million in assets by the end of the year. Under the agreement, WPX will continue to operate the system, which currently gathers approximately 11,000 B/D of oil and 6,500 Mcf/D of natural gas.
Don't miss out on the latest technology delivered to your email weekly. Sign up for the JPT newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.