One-Page Deal Sheet
WPX Acquires Permian Focused Felix Energy for $2.5 Billion
WPX Energy, Inc. Felix Energy Llc
Announced Date
December 16,2019
Close Date
March 06,2020
Transaction Type
Corporate
Enterprise Value (EV)($MM)
2500
Asset/Basin:
{"Permian - Delaware Basin"}
TargetZones:
{Wolfcamp,"Bone Spri
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin
Country
United States
State
Texas
County
Reeves ,Loving ,Winkler ,Ward
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
WPX Energy has signed a deal to acquire Delaware Basin E&P Encap backed-Felix Energy for $2.5 billion in cash/stock.
The purchase price is comprised of $900 million in cash and $1.6 billion in stock. The "cash portion" is being funded from additional debt ($900 million of senior notes) being issued by the company.
This deal closed on March 6, 2020.
Felix Energy is backed by PE firm EnCap Investments. Back in October 2018, Felix announced that it was on the hunt for a buyer and had hired Jefferies Inc. to advise.
Back in 2015, Felix was focused on the Anadarko Basin. It ended up selling off…
Permian - Delaware Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Mar-10-2026 |
-  |
- |
Click here | Texas | E&P |
| Sep-02-2025 |
- |
- |
Click here | Texas | E&P |
| May-07-2025 |
- |
- |
Click here | New Mexico | E&P |
| May-03-2025 |
- |
- |
Click here | New Mexico | E&P |
| Nov-13-2024 |
- |
- |
Click here | New Mexico | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jul-30-2024 | Permian Resources Acquires More Delaware Basin Property | - |
- |
| Jul-28-2024 | Vital Energy Acquires Delaware Basin Property From PE-Backed E&P | - |
- |
| Jun-12-2024 | Matador Resources Acquires PE-Backed Ameredev For $1.9 Billion | - |
- |