WPX says 2013 results hit by $1.5B in writeoffs, reveals $1.47B capex plan


WPX Energy (WPX) -6.1% AH after saying its Q4 and FY 2013 financial results will include the impact of up to $1.B in pre-tax impairment charges, due to a decline in forward market natural gas prices, particularly in the Northeast, where Appalachia pricing declined 26% in Q4 and 34% overall during 2013.

In a separate release, WPX reveals a 2014 capex plan of ~$1.47B, with ~85% of spending allocated to Williston, Piceance and San Juan Gallup development.

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