WPX Energy (WPX) Tops Q1 EPS by 1c, Revenues Beat
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WPX Energy Reports 1Q 2020 Results
May 6, 2020 4:15 PM EDTTaking steps to protect cash flow and preserve operational flexibility
Planning $700 million in capital cuts vs. original plan Targeting $100 million of cost savings this year from operating expenses and G&A More than 90 percent of remaining 2020 oil output financially hedged at just over $57 per barrel $2.1 billion borrowing base for credit facility reaffirmed; matures April 2023 No significant senior bond maturities due until August 2023 with $406 million outstanding Still expecting to generate approximately $150 million of free cash flow in 2020TULSA,... More
