KKR Natural Resources acquires assets from WPX Energy for $306 million

KKR Natural Resources spent $306 million to acquire assets in the Arkoma Basin and Barnett Shale from WPX Energy. The properties include 320 wells and 91 miles of pipeline in eastern Oklahoma and North Central Texas, and 525 wells and 115 miles of pipeline in the Arkoma. "We see attractive opportunities to invest behind the development of domestic energy resources and remain excited about the opportunity to grow our natural resources platform by continuing to acquire non-core oil and gas properties from high quality operators," KKR Natural Resources chief Jonathan Smidt said in a statement.

WPX Energy files paperwork for IPO

TULSA, Okla. - Natural gas and oil explorer WPX Energy Inc. filed documents on April 29 detailing plans for an initial public offering (IPO) in the third quarter.

In February, Tulsa-based Williams Cos. announced it would split into separate companies - WPX for exploration and production - and the other to operate its natural gas pipelines. The move was aimed at boosting each segment's growth by allowing for more flexibility in making operational decisions.

WPX's business will center on developing natural gas and oil reserves at sites in Colorado, North Dakota, Pennsylvania and elsewhere. Williams has said that WPX will be one of the largest independent producers of natural gas in the U.S.

The company did not indicate how many shares the offering would include, nor how much they might cost. Total proceeds of $750 million were calculated solely to estimate the company's registration fee and are likely to change.