WPX Energy (NYSE: WPX) has executed multiple agreements to deepen the company’s investment opportunities as it focuses on margin improvement.

The transactions, which are subject to normal closing conditions, will enable WPX to divest its mature coalbed methane holdings and bolster high-growth San Juan oil acreage by more than 50%.

“We’re moving quickly to build scale and create additional shareholder value,” said Rick Muncrief, WPX president and chief executive officer. “These transactions largely offset and demonstrate our commitment to deploy capital where we can generate the highest returns.”

WPX has agreed to sell its remaining mature, coalbed methane holdings in the Powder River Basin for $155 million in cash. As part of the transaction, WPX also releases firm transportation with $30 million in future demand obligations.

Mid-year reserves in the basin are 222 Bcfe and second-quarter production was 154 MMcf per day, which includes operated and non-operated working interests in approximately 5,000 wells. WPX has not actively drilled in the basin since 2011.

In 2013, production in the basin represented approximately 14% of the company’s total production, but generated only 5% of WPX’s adjusted EBITDAX results, excluding the impact of unutilized transportation.

The transaction should improve WPX’s consolidated operating cost structure for lease operating, gathering and transport expenses.

WPX has executed multiple transactions and now controls 26,000 additional acres in the heart of the San Juan Basin’s Gallup oil window, an acreage increase of more than 50% since May.

The transactions include approximately 800 barrels of oil equivalent per day. WPX now has 74,600 net acres exposed to San Juan Gallup oil. The majority of the acreage is held-by-production.

WPX now has an estimated 425 gross drillable locations for oil in the area assuming 160-acre spacing. WPX will add a third rig and possibly a fourth in 2015 to accelerate development.