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3Q 2017 OIL UP 67%

3Q 2017 oil production of 64,800 barrels per day grew 11% vs. 2Q 2017 and was up 67% percent vs. a year ago. Current oil production is 75,000 bbl/d.

3Q PRESS RELEASE

WILLISTON RECOVERIES UP 18%

WPX is now recognizing a blended type curve of 1,000 Mboe for its wells in the Middle Bakken and Three Forks formations. This is an increase of 18% vs. 2016 estimates.

3Q SLIDE DECK

AHEAD OF SCHEDULE

"Growth for growth's sake has no value. Our growth is driven by strong returns, resulting in reduced leverage and increased margins," says WPX's CEO.

FEATURE

rapid execution 

OIL GROWTH IS AHEAD OF SCHEDULE

 

 Projectedoil Production Growth Chart Hannah3q17

WE'RE NOW TARGETING 45% OIL GROWTH IN 2017.

3Q 2017 WELL PERFORMANCE

In the Delaware Basin, WPX’s six-well Lindsay 10-15 pad has posted strong results from the Wolfcamp A formation, with three of the five 1.5-mile laterals hitting 24-hour highs exceeding 4,000 Boe/d (52% oil). The highest of the three hit 4,221 Boe/d.

The five long laterals on the Lindsay pad had 30-day production averaging nearly 3,100 Boe/d (54% oil) per well. The sixth well was a 1-mile lateral that had 30-day production averaging 1,593 Boe/d (53% oil).

WPX’s CBR 6-7 five-well pad in the Delaware was completed late in the third quarter, including one well that didn’t post first sales until after quarter close. This pad also focused on the Wolfcamp A formation, which will be the emphasis of the company’s 2018 Delaware development program. Three of the five wells were 2-mile laterals, with two already reaching peak rates of 3,210 Boe/d (49% oil) and 3,024 (50% oil), respectively.

In the Williston Basin, WPX is now recognizing a blended type curve of 1,000 Mboe for its wells in the Middle Bakken and Three Forks formations. This represents an increase of 18 percent vs. the previous estimate in 2016 and is more than 60 percent higher than two years ago.

WPX’s first two of 23 planned wells in the Williston’s North Sunday Island area are performing even better than the revised type curve based on initial results. The Mandan North 13-24HW well posted a 24-hour high of 4,464 Boe/d (81% oil) and the Hidatsa North 14-23HX well posted a 24-hour high of 4,081 Boe/d (81% oil). The Hidatsa well has 30-day cumulative production of 100,377 Boe.

To the north and west of the North Sunday Island area, three Williston wells on the Ruby Parshall pad had 24-hour highs of 3,421 Boe/d, 3,319 Boe/d and 2,959 Boe/d in the third quarter. All three wells are 81 percent oil. The three wells have combined 30-day cumulative production of 169,000 Boe.

Also in the Williston Basin, WPX has 60-day cumulative production of 400,000 Boe (81% oil) from the five-well Rachel Wolf pad that was completed in the third quarter.

RESULTS

THE TRANSFORMATION CONTINUES

WPX has done more than $7 billion of transactions, transformed its portfolio and doubled oil production under Rick Muncrief's watch. Learn more. 



Transfer Agent

Our transfer agent is Computershare. Please contact them at:

P.O. Box 30170, College Station, TX 77842-3170
800.884.4225 or 781.575.2879
Website: www.computershare.com

Contact Investor Relations

David Sullivan
539.573.9360
WPXInvestorRelations@WPXEnergy.com



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CAREERS

CAREERS

In addition to a 401k match, WPX also makes annual contributions to employee 401k accounts ranging from 6-8% of salary based on age.

SAN JUAN BASIN

SAN JUAN BASIN

WPX has more than 217,000 net acres in the San Juan Basin, including approx. 85,000 acres in the Gallup oil window.

We Are WPX

We Are WPX

Learn more about us, our history and our values. At WPX, we’re inspired, involved and determined.

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WPX: A Bias For Action

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It's time to think about 2018. The next $WPX quarterly webcast takes place on Feb. 22, 2018. We'll discuss our 4Q a… https://twitter.com/i/web/status/941374653532078080
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As the 4Q and 2017 wind down, we're preparing for our next opportunity to tell the WPX story. Our next webcast takes place on Feb. 22, 2018. http://bit.ly/2AHM9d3
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3 core basins: Permian, Williston, San Juan

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