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Stock Market & Financial Investment News

News Breaks
May 1, 2014
07:29 EDTWPX, CLRWPX Energy names Rick Muncrief as CEO, effective May 15
The WPX Energy (WPX) Board of Directors has named Richard E. "Rick" Muncrief as the company’s next president and CEO. The appointment is effective May 15. He also will join the WPX board following the company’s annual meeting of shareholders on May 22. Muncrief is a petroleum engineer who has more than 30 years of upstream and midstream energy experience, most recently as senior vice president of operations and resource development at Continental Resources (CLR) where he oversaw corporate engineering, reservoir development, drilling, production operations and supply chain management.
News For WPX;CLR From The Last 14 Days
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October 23, 2014
10:01 EDTCLROn The Fly: Analyst Initiation Summary
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07:27 EDTCLRContinental Resources completes four new oil wells in Oklahoma play
Continental Resources reported operations in its recently unveiled Springer play in the South Central Oklahoma Oil Province. The four new wells had an average horizontal lateral length of approximately 4,475 feet. Continental expects estimated ultimate recovery of 940K gross Boe per well in the oil fairway of the play for a well with a 4,500-foot lateral section. In November, Continental plans to commence drilling its first extended lateral well in the Springer play, with a planned lateral length of 7,500 feet. The company expects an average EUR of approximately 1.6M gross Boe for extended lateral wells of this length, reflecting the 67% longer lateral. Continental's current Springer production is approximately 6K net Boe/d per day or 9.2K gross Boe/d, of which approximately 70% is crude oil. The company currently has nine operated drilling rigs active in the Springer play.
07:01 EDTCLRContinental Resources initiated with a Positive at Susquehanna
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October 17, 2014
17:11 EDTWPXIntegrated Core Strategies reports 4.6% passive stake in WPX Energy
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October 10, 2014
09:15 EDTCLRContinental Resources volatility increases as energy prices trend lower
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October 9, 2014
10:21 EDTWPXWPX Energy says will explore opportunistic, bolt-on acquisitions
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10:15 EDTWPXWPX Energy sees increasing market cap threefold by 2020
Says about 100 employees chose to accept early exit program. Sees year end employee headcount down about 15% from year end 2013. Says about 70%-80% of capital is oil focused. Says production guidance "in line" with previously provided view. Says expects to increase market capitalization threefold by 2020; says this belief is not reliant on M&A, bolt on acquisitions. Says targeting $12B market cap by 2020. Sees fivefold increase in oil production by 2020. Says bullish longer term for natural gas. Sees nat gas pricing $3.50-$4.50 over next three years, sees oil market at $80.00-$100.00 a barrel. Comments made on the company's strategy rollout conference call. WPX Energy shares are down 4.78% to $20.53 in morning trading.
09:59 EDTWPXWPX Energy sees Q3 adjusted production 1,060-1,073.3 MMcfe/d
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09:56 EDTWPXWPX Energy reaffirms adjusted full-year production guidance
WPX Energy reaffirmed its full-year production guidance ranges, adjusted for its Powder River sale. In the Williston, WPX says its initial result of larger stimulations encouraging. In San Juan Gallup, WPX says it is completing first two 7,500ʹ laterals and that a 3rd rig has been added. Guidance and comments from slides for strategic update.

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