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2016-2018 OIL HEDGES

Approximately 80 percent of our expected oil production for the remainder of 2016 is hedged at a weighted average price of more than $60 per barrel.

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5,500+ DELAWARE LOCATIONS

WPX is raising the projected number of gross drillable locations on its Permian Basin acreage from 3,600 to more than 5,500.

2Q SLIDE DECK

BARCLAYS PRESENTATION

WPX CEO Rick Muncrief spoke at the Barclays energy conference on Sept. 6. He detailed plans for adding more rigs in 2016 and targeting 100,000 bbl/d of oil by 2020.

PRESENTATION

getting back to work

WPX IS ADDING RIGS TO BEGIN TO RAMP UP PRODUCTION

 

 growth projection circles

BACKGROUND ON OUR PROJECTIONS

 

EXPANDING IN THE DELAWARE BASIN

WPX is more than doubling its estimate for net resource potential in the Permian’s Delaware Basin from 1.1 billion barrels of oil equivalent to approximately 2.4 billion boe and raising the projected number of gross drillable locations from more than 3,600 to more than 5,500.

WPX’s original estimate was conducted during 2015 when it acquired Delaware properties from RKI Exploration and Production. The new assessment comes on the heels of increasing estimated ultimate recoveries (EURs) earlier this year, identifying additional benches (such as Wolfcamp X/Y), down-spacing opportunities in targeted intervals, and purchasing more acreage.

Subsequent to the close of second-quarter 2016, WPX acquired another 7,800 net acres in the Delaware basin from a privately held undisclosed seller.

The acreage is close to WPX’s acreage position in central Eddy County, New Mexico. It has multiple stacked horizontal targets, including the Wolfcamp and Bone Spring intervals. The bolt-on acquisition increases WPX’s position in the Permian Basin to over 100,000 net acres.

WPX plans to add a third rig in the Delaware Basin in October 2016 to support delineation of the Wolfcamp D and X/Y intervals. WPX’s development has primarily focused on the Wolfcamp A to date.

Additionally, WPX is proceeding to expand its owned and operated midstream infrastructure in the Delaware Basin with the addition of a crude oil gathering system. This will increase reliability, increase the optionality for market access and improve oil differentials.

Planning and engineering are under way, with groundbreaking scheduled to occur before year-end 2016. The first phase of the project is expected to be complete in mid-2017, with further build-out to follow. WPX is planning a total installation of approximately 50 miles of pipe.

CEO MESSAGE ON PERMIAN

“This is a transformative opportunity that fits perfectly with our strategy to increase our oil production and high-quality oil inventory,” said Rick Muncrief, WPX CEO.    View Video


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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The U.S. Chamber looked in-depth at this question: What if America's energy renaissance never happened? A good read. http://bit.ly/2dpdggK
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Even as WPX and companies in our sector continue to look for ways to navigate tighter commodity prices, some things remain the same: community involvement and support. For the second year in a row, WPX contributed $1,000 to the New Town, N.D. Volunteer Fire Department. WPX's Dan LeBeau (center) presented our gift to fire officials.
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