WPX is a great play on nat gas if you believe in buying land acreage instead of the direct commodity. I love land plays because they aren't making anymore of it!
This makes no sense if your buying leasehold acreage to hold for the primary term without drilling. What the heck is a "land play"?
Morningstar values WPX at $40, and they are not given to wild-eyed optimism.
I'm a new shareholder as of today. Bought 100 shares on the dip at $17.52, was lucky to get that price. I'd love some opinions by those who have been holding WPX on where they think it is headed.
Do you have a link for that Morningstar piece?
Chesapeake comes to mind.