This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

WPX Energy Announces 2011 Results

WPX Energy (NYSE:WPX) today announced its unaudited financial and operating results for the fourth quarter and the year-ended Dec. 31, 2011. Highlights for the year include:
  • Revenue from domestic oil and NGL sales rose 87%
  • Oil production up 65%; NGL production up 25%; Gas production up 5%
  • Bakken Shale oil production more than tripled from 1Q to 4Q
  • Proved reserves increased 9% to a company record of nearly 5.3 Tcfe
  • Domestic production replaced at a rate of 188%
  • Proved, probable and possible (3P) reserves increased 7% to 18.5 Tcfe


WPX results for the year-ended Dec. 31, 2011, were impacted by non-cash impairment charges during the fourth quarter primarily due to a decline in forward natural gas prices.

Including these non-cash charges, WPX reported an unaudited net loss attributable to WPX Energy of $302 million in 2011, or a loss of $1.53 per share on a diluted basis. This compares with a net loss of $1,291 million, or a loss of $6.55 per share, on a diluted basis for 2010.

WPX’s adjusted EBITDAX was $1,330 million in 2011 – essentially equal to 2010. Adjusted EBITDAX is a non-GAAP measure. It is not a measure of net income or cash flows as determined by U.S. GAAP. A reconciliation of adjusted EBITDAX to net income (loss) is included in this announcement, as well as a definition.

The 2011 pre-tax, non-cash charges of approximately $547 million related to certain proved and unproved natural gas properties, primarily in the Powder River Basin and Barnett Shale.

WPX also reported $61 million in non-cash charges for dry-hole and leasehold write offs during third-quarter 2011 associated with an unsuccessful exploratory well in Columbia County, Pa., and associated acreage.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs