WPX Energy Inc. (WPX)

He is buying this for the Permian exposure. Well results have been very, very good. They have multiple benches, where on well results you’re looking at anywhere from 700 to 1000 barrels per day per well. He likes this because it is not very expensive and is growing production by about 30% this year and 40% next year.

They will grow about 3 times that of a Canadian producer. He is getting a 40% growth rate, but paying an inline multiple for it. At $5 billion market cap it has not hit as many radar screens and so is a little bit cheaper. (Analysts’ target: $18.00).