Company backed by Houston-based PE firm to be acquired for $2.5B

Oklahoma-based WPX Energy (NYSE: WPX) has inked a $2.5 billion deal to buy Felix Energy, a Denver-based exploration and production company backed by Houston-based EnCap Investments LP.

WPX plans to pay $900 million in cash and issue about 153 million WPX shares, valued at $1.6 billion, according to a Dec. 16 press release. The deal is expected to close in the second quarter of 2020.

Felix, which was formed in September 2015, is focused on the Delaware Basin portion of the Permian Basin in West…

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