CapEx plan drops 23%, funded at $50 WTI
By Richard Rostad, analyst, Oil & Gas 360

WPX Energy (ticker: WPX) announced fourth quarter results and reserves today, showing net income of $353 million, or $0.83 per share.

This result was primarily due to derivatives, and if these and other special charges are excluded, WPX earned an adjusted net income of $9.0 million in the quarter.

WPX produced 156.4 MBOEPD in Q4, up 61% from WPX’s divestiture-adjusted Q4 2017 output. Yearly output shows similar growth, as the 127.1 MBOEPD the company produced in 2018 is 64% higher than 2017’s production.

WPX now holds 479.3 MMBOE in reserves, 61% of which are oil. If divestitures are excluded, WPX replaced 308% of its 2018 production. Permian ...


Legal Notice