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.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.

Contact Information

  • Contact:
    William Ploch
    713-783-5147