February 5, 2018 / 1:40 PM / 8 months ago

BRIEF-WPX Energy Sells San Juan Gallup Holdings For $700 Million

Feb 5 (Reuters) - WPX Energy Inc:

* PRESS RELEASE - WPX ENERGY SELLS SAN JUAN GALLUP HOLDINGS FOR $700 MILLION

* WPX ENERGY INC - ‍WITH GALLUP SALE, WPX IS REVISING ITS 2018 VOLUME GUIDANCE​

* WPX ENERGY INC - NOW FORECASTING 75-80 MBBL/D OF OIL AND 117-126 MBOE/D OF PRODUCTION IN 2018 FOLLOWING GALLUP SALE

* WPX ENERGY INC - ‍NOW BELIEVES IT CAN REDUCE ITS NET DEBT/EBITDAX TO A TARGET LEVEL OF 1.5X DURING 2019​

* WPX ENERGY INC - ‍TRANSACTION COMPLETES WPX’S EXIT FROM SAN JUAN BASIN​

* WPX ENERGY INC - ‍SAN JUAN BASIN VOLUMES ARE EXPECTED TO BE RECLASSIFIED AS DISCONTINUED OPERATIONS IN 2018​

* WPX ENERGY INC - ‍WPX’S ORIGINAL 2018 CAPITAL BUDGET OF $1.1-$1.2 BILLION IS UNCHANGED​ Source text for Eikon: Further company coverage:

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