Delaware Potential Increases for WPX, but High Leverage Enhances Commodity Risk
WPX delivered production of 111 mboe/d in the second quarter, which was 18% higher sequentially and 25% higher year over year (aided by a full quarter's benefit from the Panther acquisition, which closed in March). This compares with our forecast of 104 mboe/d and was higher than management's own forecast as well, resulting in full-year guidance being raised to 105-116 mboe/d. The firm’s financial results were stronger than expected, too, with adjusted EBITDA and adjusted EPS coming in at $241 m...WPX Energy is an independent oil and natural gas exploration and production company engaged in the exploitation and development of long-life unconventional properties. The company is focused on exploiting, developing and growing its oil positions in the Delaware Basin (a subset of the Permian Basin) in Texas and New Mexico and the Williston Basin in North Dakota.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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