Devon Energy on Monday announced early tender note results totaling more than $1.9 billion for outstanding notes of WPX Energy following the merger of the two firms.
The company stated that the early results represent approximately 97.23% of the total outstanding principal amount of the WPX Notes and at least a majority of the aggregate outstanding principal amount of each series of WPX notes.
The principal amount was $1,958,718,000 that had been validly tendered and not validly withdrawn. As a result, the early tender deadline was extended until 11:59 p.m. New York City time on June 7, 2021.
WPX Notes validly tendered and not validly withdrawn and that are accepted for exchange will be exchanged for new notes issued by Devon on the settlement date, which is expected to be on June 9, 2021.