* Williams Cos' exploration and production unit
* Files for an IPO of up to $750 million
* Barclays, Citi, JPMorgan lead underwriters
NEW YORK, April 29 WPX Energy Inc, an
exploration and production unit of oil and natural gas company
Williams Cos (WMB.N), filed with the U.S. Securities and
Exchange Commission for an initial public offering of up to
$750 million on Friday.
Tulsa, Oklahoma-based WPX Energy said in the filing it was
formed this month to hold Williams' exploration and production
business. Williams had announced in February it planned to split
its pipeline and exploration businesses into two separate publicly
traded entities. [ID:nN16181727]
WPX Energy said it focuses on using existing reserves in the
Rocky Mountain region as well as expanding further in North Dakota
and Pennsylvania. The unit also owns a 69 percent controlling
stake in Apco Oil and Gas International Inc APAGF.O, with reach
into Argentina and Colombia.
The company plans to use the proceeds for general corporate
purposes after giving a large portion to Williams as part of
its restructuring, according to the filing.
WPX Energy plans to list on the New York Stock Exchange under
the symbol "WPX" (WPX.N). Barclays Capital, Citigroup and JPMorgan
are leading underwriters on the offering.
The company provided no further details of its IPO plans.
(Reporting by Alina Selyukh; Editing by Phil Berlowitz)