SOURCE: Industrial Info Resources

Industrial Info Resources

March 10, 2015 06:20 ET

Investors Wait for Lightning to Strike Twice at WPX Energy, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwired - Mar 10, 2015) - 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 oil-heavy 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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