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CONTROLLING OUR COSTS

WPX implemented a supply chain management function. The capability has allowed us to self-source completions in the Delaware and Williston basins.

4Q PRESS RELEASE

PERMIAN RESERVES RISE 56%

Proved reserves at Dec. 31, 2016, were 346.4 MMBoe. For the first time, at least 50% of proved reserves were oil. WPX replaced its 2016 production at a rate of 317%.

4Q SLIDE DECK

FEBRUARY 23 WEBCAST

CEO Rick Muncrief, Chief Operating Officer Clay Gaspar and CFO Kevin Vann will discuss the WPX's 2016 performance starting at 10 a.m. Eastern.

JOIN THE EVENT

2017 growth target  

our goal: 30% more oil.

 

 Projectedoil Production Growth Chart Hannah4q16

WPX PLANS TO RUN 10 RIGS THIS YEAR.

#1 IN THE WILLISTON BASIN

WPX completed a total of 19 Williston drilled-but-uncompleted wells during full-year 2016, including 14 in the fourth quarter.

Nine 3-mile laterals on the Peterson, North Segment and Olive Mae pads had a combined average peak rate of 1,900 Boe/d. Ten 2-mile laterals on the Wells, Helena Ruth Grant and Owl Comes Out pads had a combined average peak rate of nearly 2,600 Boe/d.

According to publicly reported information, WPX’s new Williston wells in 2016 ranked first in the basin for cumulative oil production over 90-day and 180-day periods.

The 90-day data was derived from more than 400 locations, including nine WPX wells. The 180-day data was derived from nearly 250 locations, including six WPX wells. These results highlight the success of how WPX continues to evolve its completion designs.

WPX’s Williston Basin production comes from the Bakken and Three Forks formations. Approximately 85 percent of the production stream is oil.

Williston Basin production averaged 28.8 Mboe/d in the fourth quarter as oil volumes rose 39 percent vs. the third-quarter of 2016. Full-year production in the basin averaged 25.0 Mboe/d.

WPX had 12 spuds in the basin during the fourth quarter, all of which were 2-mile laterals. Spud-to-rig-release times averaged less than 15 days per well, including the company’s two fastest wells in the basin.

WPX plans to invest $240-$260 million in the basin this year to complete an estimated 38-42 wells. The company has two rigs deployed in the basin. 

MORE 4Q HIGHLIGHTS

LEADING WPX 2.0

“Some companies change their names and call it good. At WPX, we changed everything except our name. But our new identity, and the goals we’re pursuing, couldn’t be more clear." Rick Muncrief, Chairman & CEO.

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.

Stay Informed

Stay Informed

Sign up to keep up-to-date with our latest investor news and events through timely email alerts.

WPX: A Bias For Action

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$WPX reports record oil output. 4Q oil avgd. 44,700 bbls/d, 15% higher than the 3Q. See our complete 2016 report @… https://twitter.com/i/web/status/834512010654146564
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WPX reported record oil output during the last quarter of 2016. Fourth-quarter oil production averaged 44,700 barrels per day, which was 15% higher than the 3Q. First sales in the Williston Basin drove the increase. Get the full report at http://bit.ly/2lGTBfy
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4 consecutive years of double digit oil growth

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Copyright 2014 WPX Energy

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