WPX Energy (WPX) Boosts FY16 Oil Production Outlook

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Go back to WPX Energy (WPX) Boosts FY16 Oil Production Outlook

WPX Energy Provides Operational Update

June 6, 2016 6:30 AM EDT

Raises 2016 Expectation for Oil Output by 5 Percent

D&C Capex Remains within Guidance Range

TULSA, Okla.--(BUSINESS WIRE)-- WPX Energy (NYSE: WPX) announced today that it is increasing its full-year oil production guidance to an average of 39 to 41 Mbbl/day, up 5 percent from previous guidance of 37 to 39 Mbbl/day.

Guidance for total equivalent production is up 3 percent to 77 to 82 Mboe/day from a previous estimate of 75 to 80 Mboe/d.

The increase is driven by better-than-expected well performance and an expected increase in drilling and... More