Debt | Hedging | Capital Markets
WPX Energy Adds to Hedge Position for 2016
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WPX Energy has added more hedges to protect cash flows and repurchased a portion of notes that are due in early 2017.
Approximately three-fourths of WPX's 2016 anticipated oil volumes are hedged well above current prices. The company now has 29,380 barrels of oil per day hedged at $60.85 per barrel in 2016. This includes another 2,000 bbl/d added since the company's most recent quarterly report.
Roughly two-thirds of WPX's anticipated 2016 natural gas production is hedged at $3.63 per MMBtu. For 2017, WPX has 9,304 bbl/d of oil hedged at $61.66 per barrel and 92,500 MMBtu per day of natural gas hedged at $3.22.
Over the past two months, WPX reduced its long-term debt by repurchasing approximately $68 million in notes - or 17 percent - of a $400 million maturity due in early 2017 at a…
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