WPX News and Press, WPX Energy Inc. From 10/24/20

Listen on the go! A daily podcast of Wall Street Breakfast's Alpha Talks will be available this morning on Seeking Alpha, iTunes, Stitcher and Spotify. Stocks rallied to finish Friday higher, but were down for the week with earnings unable to shake the market out of its habit of jumping and d...

Another day, another announced M&A deal in North American energy. Operators continue to consolidate in the Permian in particular, a region where stock valuations had contracted to silly levels. Deals were inevitable. Investors in other areas of energy (midstream, services) sho...

WPX Energy (NYSE:WPX) plans to discuss its third-quarter 2020 financial and operations results during a webcast on Tuesday, Nov. 3, 2020, beginning at 10 a.m. Eastern. Chief Executive Officer Rick Muncrief, Chief Operating Officer Clay Gaspar and Chief Financial Officer Kevin Vann w...

A wave of consolidation has washed over the oil sector in the last month. The latest deal came on Tuesday as Pioneer Natural Resources (NYSE: PXD) reached an agreement to buy fellow Permian Basin producer Parsley Energy (NYSE: PE) . That merger ...

Cycle bottom M&A indicate two things to us: 1) High implied decline in PDP resulting in inability to access to capital, and 2) no capital. A flurry of deals have been announced during the last two months, but the most notable one, in our view, was Pioneer buying Parsley. Parsl...

ConocoPhillips is buying Concho Resources in an acquisition valued $9.7 billion, expected to close 1Q21. Concho’s current market capitalization is $9.3 billion. In March 2018 Concho itself paid $9.5 billion for RSP Permian. At year-end 2019, Concho’s reserves had an SEC ...

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Gap narrows on stimulusHouse Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin appear to be making progress in their latest coronavirus stimulus t...

Merger activity moderated again last week with three new deals announced. The acquisition of Acorn International by First Ostia Port. The merger of DouYu International Holdings Limited and HUYA Inc. For further details see: Merger Arbitrage Mondays - 2 Potential Deals Co...

On the surface, declining production would seem negative for midstream/MLPs, but based on recent history, production trends in either direction do not seem to make much difference for equity performance. The last year of positive price performance for MLPs and the best annual performa...

Merger activity increased significantly last week with ten new deals announced. The merger of WPX Energy (WPX) and Devon Energy Corporation (DVN). Morgan Stanley (MS) completes the acquisition of E*TRADE Financial Corporation (ETFC). For further details see: Me...