The Joplin Globe, Joplin, MO


May 20, 2013

WPX Energy rises as hedge fund discloses stake

NEW YORK — Shares of WPX Energy soared to an all-time high on Monday as a hedge fund disclosed a minority stake in the oil and gas company.

THE SPARK: Taconic Capital Advisors LP said in a regulatory filing that it now has a 6.39 percent interest in WPX Energy.  The hedge fund also said that it may talk with WPX about ways to increase value for shareholders.

A representative for WPX did not immediately respond to an email seeking comment.

THE BACKGROUND: Earlier this month WPX’s share got a bounce after regulators ruled that it wasn’t responsible for water contamination in Pennsylvania. In late April Pennsylvania regulators said their 16-month investigation showed that high levels of methane and other contaminants in the private water wells at three homes didn’t result from WPX’s drilling. WPX, which is based in Tulsa, Okla., had faced heavy criticism for its hydraulic fracturing activities in the region.

SHARE ACTION: WPX Energy Inc.’s stock rose 98 cents, or 5.3 percent, to $19.44 in afternoon trading. The shares reached a new all-time high of $19.84 earlier in the session.


Text Only

A study, to be reported on in Sunday’s Globe, recently reviewed the market conditions across the region. Do you think this is a good time to start a business?

     View Results
Twitter Updates
Follow us on twitter
NDN Video
Joy Fills Streets of Cleveland As LeBron Returns Proposed Bill to Regulate NY Costumed Characters WH: LeBron's Move a 'Powerful Statement' Ana Ortiz on 'Devious Maids' Finale CDC Addresses Lab Safety Problems Texas Shooting Suspect Collapses in Court Death Toll Tops 100 As Israel Offense Continues LeBron James Says He's Returning to Cavaliers Man Flees Police in World Cup Scalping Scheme Robot Writes Jewish Torah Scroll Raw: Israel, Gaza Exchange Rocket Fire More Immigrants Detained Along Rio Grande World Cup Final Pits Argentina Against Germany Police: Prostitute Linked to 2nd Death Thousands Attend NYC Firefighter's Funeral Art of Haitian Machete Fighting Revived Raw: Australia Hosts Annual Beer Can Regatta Mass. Mayor: Families Lost Everything in Fire Fans Dying to Be Near Jazz Greats Robots Gearing Up for Their Own 'World Cup'