WPX Has Top Tier Acreage in the Bakken and Delaware Plays
WPX Energy delivered production of 156 mboe/d in the fourth quarter, which was 26% higher sequentially and 20% higher year over year. This beat our forecast of 146 mboe/d and pushed full-year volumes into the upper half of guidance. But the firm’s financial results were fractionally lower than expected, with adjusted EBITDA and adjusted earnings per share coming in at $306 million and $0.02, respectively (consensus estimates were $315 million and $0.05). We plan to incorporate these operating an...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.
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