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logoMorningstarNovember 24, 2020

WPX Energy, Inc.: Updating WPX Fair Value Estimate After Launching Coverage of Devon Energy

Symbols
WPX
Sector(s)
Energy
Rating
Premium
Current Price
$9.43
Fair Value
Premium
Economic Moat
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Stewardship
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Summary

WPX Energy, based in Tulsa, Oklahoma, is an unconventional oil and gas producer with acreage in the Williston Basin (Bakken), the Permian Basin, and the Rockies. At the end of 2019, the company reported net proven reserves of 528 million barrels of oil equivalent. Net production averaged 167 thousand barrels of oil equivalent per day in 2019, at a ratio of 79% liquids and 21% natural gas.

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Analyst Profile

Dave Meats

Director
David Meats, CFA, is director of research, energy and utilities, for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc.Before joining Morningstar in 2014, Meats was an associate analyst for Raymond James. Previously, he worked as a geophysicist for Burren Energy, a London-based exploration and production firm, and Italian multinational oil and gas firm Eni SpA, which acquired Burren in 2008.Meats holds an undergraduate degree in physics from the University of Nottingham, a master's degree in petroleum geoscience from Royal Holloway, University of London, and a master's degree in business administration from the University of Chicago Booth School of Business. He also holds the Chartered Financial Analyst® designation.