WPX Energy, Inc. Files Registration Statement for Proposed IPO

TULSA, Okla., April 29, 2011 /PRNewswire/ -- Williams (NYSE: WMB) announced today that its wholly owned subsidiary, WPX Energy, Inc., has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed underwritten initial public offering of its Class A common stock.  

The number of shares to be offered and the price range for the offering have not yet been determined.

WPX Energy was formed to hold Williams' exploration and production business.  Williams' exploration and production business is focused on developing its significant natural gas reserves and related natural gas liquids (NGLs) in the Piceance Basin of western Colorado, as well as its growing positions in the Bakken Shale oil play in North Dakota and the Marcellus Shale in Pennsylvania.  The business also has domestic operations in the Powder River Basin in Wyoming and the San Juan Basin in the southwestern United States and international investments in Argentina and Colombia.

Sale of the common stock is expected to commence in the third quarter of this year, subject to completion of the SEC review process and market conditions. The company intends to apply to list its Class A common stock on the New York Stock Exchange under the symbol "WPX."

Barclays Capital, Citi and J.P. Morgan will act as joint book-running managers of the offering.  WPX Energy's proposed offering of Class A common stock will be made only by means of a prospectus.  When available, copies of the preliminary prospectus relating to the offering may be obtained from the joint-book running managers as follows:

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

WPX Energy's principal executive offices are located at One Williams Center, Tulsa, Okla., 74172-0172 and its telephone number is (918) 573-2000.

About Williams (NYSE: WMB)

Williams is an integrated natural gas company focused on exploration and production, midstream gathering and processing, and interstate natural gas transportation primarily in the Rocky Mountains, Gulf Coast, Pacific Northwest, Eastern Seaboard and the Marcellus Shale in Pennsylvania. Most of the company's interstate gas pipeline and midstream assets are held through its 75-percent ownership interest (including the general-partner interest) in Williams Partners L.P. (NYSE: WPZ), a leading diversified master limited partnership.  More information is available at www.williams.com. Go to http://www.b2i.us/irpass.asp?BzID=630&to=ea&s=0 to join our e-mail list.

Portions of this document may constitute "forward-looking statements" as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company's annual reports filed with the Securities and Exchange Commission.

SOURCE Williams