As the price of West Texas Intermediate Crude continues to languish below $65 a barrel this year, the persistent lower oil prices continue to drive an increase in merger and acquisition activity in the energy sector. WPX Energy’s recent move to acquire RKI Exploration is yet another example of this ongoing trend.
WPX Energy, a publicly traded domestic energy producer based in Tulsa, Oklahoma, with operations in the western United States, recently entered into an agreement to acquire privately held RKI Exploration & Production for $2.35 billion plus the assumption of $400 million of debt, according to a recent press release issued by WPX Energy.
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