UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 15, 2015
WPX Energy, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 1-35322 | 45-1836028 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| One Williams Center Tulsa, Oklahoma |
74172-0172 | |
| (Address of principal executive offices) | (Zip Code) |
(855) 979-2012
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.13e-4(c)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01 | Other Events. |
We significantly increased our leverage in 2015 as a result of our acquisition of RKI Exploration & Production, LLC. As disclosed in our Form 10-Q for the quarter ended September 30, 2015, this increased leverage – along with the lower commodity price environment in which our industry finds itself – resulted in our establishing goals for debt reduction via asset sales in 2015 and 2016 and in considering options for unlocking the value of our assets in the Piceance Basin. In that regard, we have been engaged in discussions with third parties respecting a disposition of all or a portion of our assets in the Piceance Basin. Though these discussions may result in an agreement for the disposition of those assets, we can provide no assurance that any such agreement will occur or, if it occurs, that the transaction that is the subject of the agreement will close on the terms to which we have agreed.
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WPX Energy, Inc. | ||||||
| Date: December 15, 2015 | By: | /s/ Stephen E. Brilz | ||||
| Name: | Stephen E. Brilz | |||||
| Title: | Vice President and Secretary | |||||