WPX Energy to sell Powder River coalbed methane holdings for $155M

|About: WPX Energy, Inc. (WPX)|By:, SA News Editor

WPX Energy (NYSE:WPX) agrees to sell its remaining mature, coalbed methane holdings in the Powder River Basin to an unnamed buyer for $155M; WPX has not actively drilled in Powder Basin since 2011, but mid-year reserves in the basin are 222B cfe and Q2 production was 154M cf/day.

At the same time, WPX says it has executed multiple transactions and now controls 26K additional acres in the San Juan Basin's Gallup oil window, including ~800 boe/day; WPX now has 74.6K net acres exposed to San Juan Gallup oil.