WPX Underlines Asset Quality with Record Bakken Wells
WPX's financial results were stronger than expected in the fourth quarter, with adjusted EBITDA and adjusted earnings per share coming in ahead of consensus at $255 million and negative $0.02 respectively. Production in the period was 131, which was 8% higher sequentially and 47% higher year over year. Oil volumes grew even faster, increasing 68% since the fourth quarter of 2016 (to 75 mboe/d). This reflects the firm’s u-turn away from natural gas assets in the rockies and toward oil-weighted sh...
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