Investors Wait for Lightning to Strike Twice at WPX Energy, an Industrial Info News Alert
(firmenpresse) - SUGAR LAND, TX -- (Marketwired) -- 03/10/15 -- Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Last May, WPX Energy Incorporated (NYSE:WPX) (Tulsa, Oklahoma) hired longtime Continental executive Rick Muncrief as president and chief executive officer. His arrival helped to push up the stock by about 10% that summer. But the collapse of crude oil prices has cut WPX''s share price in half over the last six months. And despite strong quarterly results, higher production and a series of strategic moves -- selling peripheral assets, shifting to an portfolio, trimming capital spending, and consolidating staffing -- investors remain unimpressed.
Within this article: Details on WPX''s plans to further reduce capital spending, including staff reductions and less activity in San Juan Basin, Williston Basin and Piceance Basin.
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Datum: 10.03.2015 - 05:20 Uhr
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News-ID 1342872
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