New York, July 14, 2015 -- Moody's Investors Service changed WPX Energy, Inc.'s (WPX) outlook to negative from stable, following the company's announcement that it will acquire RKI in a transaction valued at $2.75 billion, including $400 million of assumed debt at RKI. Moody's affirmed its Ba1 Corporate Family Rating (CFR) and existing senior unsecured ratings, and assigned Ba1 ratings to its new notes. The proposed debt issuance will be used along with approximately $300 million of existing cash, equity valued at $470 million issued to the seller, new public equity and revolver borrowings to fund the RKI purchase. The acquisition is subject to regulatory and other customary closing conditions.

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