Our very first properties – in the San Juan Basin – were originally part of a pipeline company.
In the ’80s and ’90s, our former parent company gave our particular business more shape and distinction through a series of internal organizational moves. In 1995, we actively began to grow our E&P portfolio rather than monetizing it.
In 1998, based on our experience in the San Juan Basin, we shifted our focus toward unconventional plays such as tight-sands gas. A couple of significant acquisitions followed, including our purchase of Barrett Resources in 2001 for $2.8 billion.
From 2006-10, we participated in the development of more than 7,000 natural gas wells − with as many as 28 drilling rigs deployed in Colorado alone. Simultaneously, we also entered into shale development and diversified our production with oil.
At year-end 2011, we completed a tax-free spinoff from our former parent company, launching WPX as a stand-alone, publicly traded corporation. Our shares are traded on the NYSE under the symbol WPX.
Our name dates back to 1991 when some of our early staff referred to the company in shorthand as WPX rather than writing out what the lengthier business unit moniker was back then.