WPX Energy sells NM assets
FARMINGTON, N.M. (AP) An Oklahoma independent oil and gas company has moved out of northwest New Mexico to concentrate on operations in the Permian Basin and North Dakota.
The Tulsa, Oklahoma-based WPX Energy Inc. recently announced the sale of the last of its Four Corners assets for $700 million, the Daily Times of Farmington reports.
WPX sold some 150 oil wells on about 100,000 acres in Gallup to an undisclosed party in a transaction that is expected to close by the end of March, WPX spokesman Kelly Swan said.
Swan said WPX has been shifting its focus and funneling its resources to its operations in the Permian Basin of southeast New Mexico and west Texas and in the Williston Basin of North Dakota over the past few years.
WPX's Aztec office has approximately 40 employees remaining after the company sold its natural gas assets in the San Juan Basin to Farmington-based Logos Resources II, LLC in December. Swan said WPX's employees "should all have the opportunity to transition" to the incoming company.