WPX Energy Will Double Its Cash Flow Over The Next 2 Years [Seeking Alpha]
WPX ENERGY (WPX)
Last wpx energy earnings: 2/26 04:15 pm
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US:NYSE Investor Relations:
wpxenergy.com/investors.aspx
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Source: Seeking Alpha
Summary WPX Energy still grew production and earned a decent profit despite growing pains negatively affecting the oil & gas industry. The company expects to double cash flow in the next two years as it moves to manufacturing mode that will now be accompanied by added takeaway capacity in the Permian. Therefore, the recent stock price pullback from around $20 represents a buying opportunity here around $13. WPX Energy ( WPX ) still earned net income of $29 million in the third quarter of 2018 and has grown production 54% year over year despite seeing third-party processing disruptions and delays in bringing large multi-well pads on-line (due to poor weather). These issues are temporary and should be resolved in the coming quarters. But it is encouraging to see these positive results for WPX, even with transitory issues weighing on the oil & gas sector, and points to its ability to execute in challenging times. With optimizations in completions becoming more advanced
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