WPX Energy: Painfully Building the Foundation for Growth
WPX Energy (NYSE: WPX ) continues to build the foundation for growth, yet the improvements aren't showing up in recent results. Like any oil and gas exploration and production company trying to turn around operations, any gains in the short term can quickly be offset by declining production from old wells. Until the company can drill enough new wells, the positive results can be hidden, as is the case with WPX Energy.
The first quarter sequential gain in natural gas production is a signal that WPX has finally turned the corner. Combined with a substantial increase in oil production, the company is set to benefit from the suddenly surging natural gas prices and stubbornly high oil prices.
Read the full article here.
Disclosure: No positions mentioned. Please read the disclaimer page for more details.