Oklahoma-based oil and gas producer WPX Energy Inc. is going all-in on a trio of core oil and gas plays in North Dakota, Colorado and New Mexico, according to tulsaworld.com.
The firm announced a new five-year strategy today that contains stake in the Williston, Piceance and San Juan basins. The strategy is in place to simplify WPX’s geographic focus and expand return margins, and cash flows over the next five years.
After its spinoff from Williams Cos. Inc. in 2011, WPX experienced a setback due to a portfolio which emphasized natural gas production amidst low prices and net losses that prompted the sale of its assets.
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