WPX Energy (WPX) Tops Q1 EPS by 39c

WPX Energy (NYSE: WPX) reported Q1 EPS of $0.22, $0.39 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $216 million versus the consensus estimate of $249.5 million.

• 1Q oil averaged 46,100 bbl/d; current production ~55,000 bbl/d
• Wolfcamp A Spacing Test Shows Encouraging Results
• Approaching 10,000 bbls/d on WPX’s new Delaware Basin oil gathering system
• Permian acreage climbs to approximately 135,000 net acres after closing two transactions
• Wells from Panther transaction exceeding expectations
• Permian Midstream JV process on track with agreement expected midyear
• Signs transportation agreement to ship up to 200,000 MMBtu out of Waha hub
• Grizzly 24-13HG well in Williston hits peak rate of 3,343 Boe/d (81% oil)

For earnings history and earnings-related data on WPX Energy (WPX) click here.

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