WPX Energy is a tremendous turnaround story. Since mid 2014, we have reached more than $4 billion in transactions to transform the company under the leadership of new CEO Rick Muncrief.
Today, we are one of the newest players in the oil-rich Permian Basin after completing a company-defining acquisition in summer 2015. We have approximately 92,000 net acres under lease in the basin and more than 3,600 gross risked drilling locations across stacked pay intervals. This represents decades of drilling opportunities.
WPX also has core acreage in North Dakota’s Williston Basin, New Mexico’s San Juan Basin and Colorado’s Piceance Basin. We posted total production of 167.3 Mboe/d from our operating areas in third-quarter 2015.
WPX set a new high for liquids production in the third quarter, averaging 56,500 barrels per day of oil and NGL. Oil production alone surpassed 35,000 barrels per day for the first time and accounted for 21 percent of total equivalent production, up from 15 percent a year ago.
Enhanced completion designs on our wells in the Permian and Williston basins are also yielding early-time results that exceed existing type curves, pointing to opportunities for increased shareholder value. WPX will continue to aggressively test and evaluate larger stimulations.
WPX has a long history of innovation and stakeholder engagement, recognized through more than 40 local, state, federal and industry awards. Last year we received 5 awards for ethics, exploration, air quality, best practices and wildlife habitat improvements.VIEW OUR AWARDS