WPX Energy, an independent energy producer, completed the acquisition of Felix Energy, one of the Delaware Basin operators, from EnCap Investments, an American private equity firm, for $2.5bn. The purchase price consists of $900m cash, subject to closing adjustments, and $1.6bn in WPX stock issued to the seller. “This is an exciting day for both Felix Energy and EnCap. Over the past four years, the Felix team has worked tirelessly to build what we consider to be a world-class Delaware Basin asset. Given the current market environment, we are strong believers in consolidation and feel that the Felix asset base is a clear strategic fit for WPX,” Doug Swanson, EnCap Managing Partner.