WPX Expects Robust 2017 Growth but Its High Leverage Makes It Vulnerable to Falling Crude Prices
Last week WPX announced full-year 2016 production of 84.6 mboe/d, which was at the midpoint of guidance. The liquids component increased from 33% to 61%, reflecting the firm's strategic pivot toward high-margin oil plays (and the divestment of its substantial Piceance position, which was no longer considered core). Fourth-quarter production grew 5% sequentially to 89 mboe/d (62% liquids) and financial results were broadly in line with guidance (adjusted EBITDA and adjusted earnings per share wer...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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