WPX Energy (WPX) reported that the company has signed an agreement to sell producing oil and gas properties in the Barnett Shale.
WPX Energy is selling 27,000 net acres with production of 67 million cubic feet of natural gas per day from 320 wells. The company is also selling 91 miles of associated pipeline assets.
An investor group led by KKR Natural Resources and Premier Natural Resources is paying $306 million for the Barnett Shale assets and similar properties in the Arkoma Basin in Oklahoma.