Best Basic Materials stocks: Rex Energy Corporation (REXX), WPX Energy Inc (WPX)


Rex Energy Corporation (NASDAQ:REXX)

Stock’s Trading Stats:

Rex Energy Corporation (NASDAQ:REXX) declined -3.48% yesterday and closed at $1.11. The company’s market capitalization is at $76.24 Million with an average trading volume of 5.21 Million. The total number of Outstanding Shares Held by the company are 56.95 Million.

Recent Press Release:

INEOS Europe AG and Rex Energy Corporation (REXX) declared on April 11, 2016 it have declared a new natural gas liquids sale and purchase agreement covering ethane, propane and butane. The natural gas liquids will be transported through the Mariner East infrastructure and exported by sea to INEOS’ European cracker complexes. Transportation of Ethane supplies begind in April 2016 while propane and butane supplies will start with the completion of Mariner East 2 pipeline in 2017.

On March 23rd, INEOS confirmed that its vessel, the INEOS Intrepid, had arrived at its petrochemicals plant at Rafnes in Norway, carrying 27.500m3 of US shale gas ethane. This was the very first time that ethane from US shale gas had ever been exported from the USA and the first time it has been imported into Europe. It gives the continent the chance to benefit from the US shale gas economics which did so much to revitalize manufacturing in the United States.

The project has been complex – involving the design and long term charter of all eight Dragon class ships (which collectively create a virtual pipeline across the Atlantic), connection of the new 300 mile Mariner East pipeline from the Marcellus shale in Western Pennsylvania to the Marcus Hook deep water terminal near Philadelphia, and the creation of new export facilities and storage tanks.

WPX Energy Inc (NYSE:WPX)

Stock’s Trading Stats:

WPX Energy Inc (NYSE:WPX) closed at $7.56 yesterday by showing a decrease of -3.20%. The total number of outstanding shares held by the company are 275.48 Million with the total market capitalization of $2.29 billion. The number of shares traded on the last trading session are 9.69 Million.

Recent Press Release:

WPX Energy Inc (WPX) on April 8, 2016 declared that it has accomplished the sale of its wholly owned partner WPX Energy Rocky Mountain, LLC, to Terra Energy Partners LLC for $910 million subject to closing adjustments.

The divestiture greatly enhances WPX’s liquidity, will significantly improve its capital efficiency and returns, and lead to materially lower general and administrative expenses going forward.

The move also solidifies WPX’s focus on the Permian Basin and balances the company’s commodity mix. WPX anticipates oil to comprise about half of its future production volumes, up from roughly 20 percent in 2015.

The results of WPX’s Piceance Basin operations, counting associated production volumes, will be reclassified as suspended operations. Piceance production volumes will not be reflected in the company’s first-quarter 2016 financial and operations results.