WPX Wells Consistently Yield Above-Average Initial Rates
We are nudging our fair value to $11 after taking a second look at WPX's first-quarter financial and operating results. The increase was mainly driven by incorporating above-average initial production rates that the firm consistently delivers in both the Delaware and Bakken shale plays. As we have previously commented, the firm's acreage is ideally located in the "sweet spot" of both plays, and its technical team has been able to make the most of this advantage.As a reminder, the firm delivered...
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.
We have operations in 27 countries.
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