The Rising Influence of Rising Affluence

[Timothy Smith]

$WPX - WPX Energy says it received $1.2B in commitments on a senior secured credit facility, at a time when many energy companies brace for a fall in credit lines.

WPX says the facility provides clarity and a validation of its financial health, and provides ample liquidity for a post-Piceance company as it prepares to close that asset sale in Q2.

WPX also says it had an initial borrowing base of $1.025B; the company had said in August that total commitments under its revolving credit facility had increased to $1.75B from $1.5B.