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WPX Energy, Inc. (WPX)

  • Fri, Feb. 13, 3:57 PM
    • Walter Investment (WAC +14.6%) rallies ~15% higher after a favorable report in Barron's cited managers of the GoodHaven mutual fund who said WAC is a stock that has fallen by more than half over the past two years but can rebound quickly.
    • WMC achieves better repayment results with fewer borrower complaints than most banks, the managers say, adding that the mortgage servicer has $3-$4/share in long-term earnings power and easily could hit $30-$35.
    • The article also highlighted Barrick Gold (ABX +0.2%) and WPX Energy (WPX -0.4%) as stocks that could jump quickly if the prices of their respective commodities make progress.
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  • Dec. 22, 2014, 10:45 AM
    • Natural gas prices fall 9.5% to near two-year lows at $3.133/mmBtu, in the biggest one-day percentage loss since February and the lowest intraday price since January 2013, on mild weather forecasts and inventory that is above year-ago levels.
    • Prices are now down more than 15% in three straight losing sessions and are 30% lower than the six-month high closing price of $4.489/mmBtu it hit just a month ago.
    • Weather has been unseasonably warm for December, limiting demand for home heating and allowing relatively low stockpiles to catch up to where they were a year ago and encouraging traders to sell based on the belief that supply is relatively healthy.
    • Gas producers are among the biggest early decliners: XOM -1.1%, CHK -7.3%, APC -2.6%, SWN -6%, DVN -2.2%, COP -2.3%, BP -1.5%, COG -4%, BHP -1.9%, CVX -1.3%, ECA -5.1%, EQT -4.3%, RDS.A -1.7%, UPL -12%, WPX -6.9%, EOG -1%, OXY -1.1%, RRC -6.1%, APA -2.3%, AR -3.2%, CNX -3%, QEP -4.8%, LINE -4.9%, NBL -1.6%, SM -2.6%, XEC -4.2%, PXD -2.9%, NFX -5.1%.
  • Oct. 9, 2014, 11:34 AM
    • WPX Energy (WPX -5.9%) is sharply lower, along with most oil and gas companies, despite revealing a new strategy to simplify its geographic focus and expand its returns, margins and cash flow over the next five years.
    • WPX believes its revamped model will produce a five-fold jump in oil production as well as triple operating margins and the company's overall value by 2020 from 2013.
    • Says its core resource plays in the Williston Basin in North Dakota, the San Juan Basin in New Mexico and the Piceance Basin in Colorado have ~16K remaining drillable locations, 480K net acres and more than 14T cfe of proved, probable and possible oil and gas reserves as of Dec. 2013.
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  • Oct. 3, 2014, 11:56 AM
    • The buyer of Apco (APAGF +13.9%) for $427M in cash is privately-held Pluspetrol Resources Corporation, and the price represents a 52% premium to the May 1, 2013 closing price - the day WPX Energy (WPX +0.4%), the majority owner, signaled its interest in a sale.
    • Source: Press Release
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  • Aug. 25, 2014, 2:59 PM
    • WPX Energy (WPX +2.5%) is upgraded to Sector Outperform from Sector Perform with a $32 price target, up from $25, at Howard Weil, which says WPX continues its turnaround story with outstanding Q2 results.
    • Q2 was the first quarter directed by new CEO Rick Muncrief, and the outlook is already much improved; oil production was ahead of estimates, costs are declining, Gallup results are improving, and the more simplified company is heading in the right direction, Weil says.
  • Aug. 6, 2014, 2:09 PM
    • WPX Energy (WPX +11.4%) surges as much as 16%, the most since its trading debut, after posting a solid Q2 adjusted profit when analyst consensus called for a loss, and boosting its outlook for crude production.
    • WPX expects its U.S. oil production to grow by 55% this year, up from its earlier projection of 40%, it plans to add ~200 drilling locations in the Williston oil region in North Dakota and Montana and expects to increase activity in New Mexico’s San Juan basin as well.
    • While WPX recorded an adjusted Q2 loss due to a asset sales, the report was positive because of the strong production results, particularly in oil, Tudor Pickering analysts say.
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  • Aug. 6, 2014, 12:45 PM
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  • Jul. 15, 2014, 3:58 PM
    • Long-term natural gas prices will increase in value, and oil and gas producers are operating in a trough gas price environment, Prime Executions says as it recommends investors start building positions in natural gas weighted E&Ps during H2 2014 and sees the relative value proposition shifting in favor of natural gas over 2015 and beyond (
    • Buy-rated stocks are the highest-percentage dry gas production and reserve weighted companies with the lowest balance sheet leverage and leanest cost structure, the firm says.
    • EQT (EQT -0.2%), Rice Energy (RICE -2.3%) and WPX (WPX -2.3%) are initiated with Buy ratings, while Ultra Petroleum (UPL -0.2%) is started at Hold and Bill Barrett (BBG -5.3%) is tagged with a Sell rating.
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  • Jul. 14, 2014, 2:21 PM
    • Whiting Petroleum's (WLL +7.4%) $6B buyout of Kodiak Oil & Gas (KOG +5.1%) is renewing investor attention on independent energy firms with operations in the Bakken Shale, especially those significantly owned by hedge funds; Paulson & Co. is the single biggest owner of KOG stock, with just under 10% of shares outstanding as of the last filing date.
    • While many of the largest Bakken producers are huge companies or parts of huge companies - Hess (NYSE:HES), EOG, Statoil (NYSE:STO), Marathon Oil (NYSE:MRO), XTO Energy (NYSE:XOM) - a few small and mid-cap independent players show hedge fund interest, CNBC's Brian Sullivan writes.
    • The single biggest holder of Oasis Petroleum (OAS +0.5%) also is John Paulson's hedge fund, which owns 9.9M shares (~9.8% of shares outstanding), Jana Partners owns 16M-plus shares in QEP Resources (QEP +1.4%), and WPX Energy (WPX +1.1%) has substantial hedge fund ownership.
  • May. 6, 2014, 4:34 PM
    • WPX Energy (WPX) +2.2% AH after agreeing to sell a working interest in certain of its existing Piceance Basin wells to Legacy Reserves (LGCY) for $355M plus a portion of LGCY's newly-created incentive distribution units.
    • The working interests represent 279B cfe of reserves, or ~9% of WPXs year-end 2013 Piceance proved reserves.
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  • Mar. 14, 2014, 6:05 PM
    • Keurig Green Mountain (GMCR) +2% AH on news it will replace WPX Energy (WPX) in the S&P 500 index, effective March 21.
    • WPX Energy will move down to the S&P MidCap 400, replacing GMCR.
    • Press release
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  • Feb. 10, 2014, 4:45 PM
    • 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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  • Nov. 14, 2013, 5:57 PM
    • Intrexon (XON) +4.8% AH after David Einhorn's Greenlight Capital reveals it opened a ~2.1M-share position in the biotech company that went public in August. (13F)
    • Greenlight also started positions in NVR and Tempur Sealy (TPX), and added large stakes in WPX Energy (WPX) and Spirit AeroSystems (SPR); it closed positions on Oaktree Capital (OAK), State Bank Financial (STBZ) and Capital Bank Financial (CBF), while selling 20% of its shares in Rite Aid (RAD).
    • Its biggest positions are still in Apple (AAPL), 21.1% of the portfolio; GM, 11.3%; and Marvell Technology (MRVL), 9.4%.
  • Nov. 14, 2013, 5:44 PM
    • Top Gainers, as of 5:15 p.m.: VNDA +19.3%. CADX +10.4%. TTS +8.3%. WPX +6.3%. A +4.9%.
    • Top Losers, as of 5:15 p.m: SRPT -9.5%. ONVO -7.4%. FU -4.7%. YNDX -4.2%. MITL -3.9%.
  • Nov. 14, 2013, 5:03 PM
    • WPX Energy (WPX) +6.2% AH after announcing plans to form an MLP which will hold working interests in mature, producing natural gas properties located in the Piceance Basin in Colorado.
    • The MLP, to be called WPX Energy Partners, expects to file in early 2014 for an IPO of the common units.
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  • Nov. 7, 2013, 12:58 PM
    • WPX Energy (WPX -8.6%) plunges after reporting an adjusted Q3 loss of $0.57/share vs. analyst expectations of $0.21 loss and disappointing production guidance.
    • Results also were hurt by lower price realizations, due in part to a legacy 2009 sales agreement in which WPX received lower pricing for 200M cf/day in gas from Rocky Mountain wells.
    • Overall production volume hit a record 22.4K bbl/day but expects full-year outlook to come in at the lower end of its forecast range.
    • WPX’s Marcellus Shale operations "continue to struggle as infrastructure constraints persist," Tudor Pickering Holt analysts say.
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Company Description
WPX Energy Inc is an independent natural gas and oil exploration and production company engaged in the exploitation and development of long-life unconventional properties. The Company is organized into domestic and international segments.