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2017 DELAWARE RIG COUNT

WPX expects the cash flow from our Permian bolt-on to fund the existing two-rig program on the acquired acreage. This will bring our rig count in the Permian to 7. 

BACKGROUND

INCREASING OUR OIL GROWTH

Our forecast targets 52,000-56,000 barrels of oil per day in 2017. This estimate includes nine months of production associated with our new acreage acquisition

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boosting our oil barrels 

AMBITIOUS GOALS. A BIAS FOR ACTION.

 

 bar chart oil growth canvass

2017 GUIDANCE PRIOR TO PRO FORMA IMPACT OF ACQUISITION

3Q DELAWARE BASIN OPERATIONS UPDATE

Delaware production averaged 28.3 Mboe per day in the third quarter, up 9 percent vs. the preceding quarter from greater gas and NGL volumes due in part to delineation work in the Wolfcamp D horizon. WPX’s oil volumes in the basin increased 4 percent vs. the preceding quarter.

Since closing the RKI acquisition in August 2015, WPX has added roughly 12,300 net acres in the Permian Basin at an average cost of $7,900 per acre. Including the bolt-ons, WPX now has 102,000 net acres in the basin.

Subsequent to closing a recent bolt-on purchase, WPX proceeded to drill its first 1-mile Wolfcamp X/Y delineation well, the C-State 16-1H. WPX drilled the well in just 17.5 days, the company’s best drilling time to date in the basin. The well had a 24-hour IP of 1,812 Boe/d (70% oil) with a completed well cost of approximately $5.1 million, including facilities.

WPX has initiated delineation work in the Wolfcamp D interval, as well, by bringing its first two Wolfcamp D wells to first sales during the third quarter. The well results are consistent with offset operator wells to the west.

The East Pecos 22-14H well in the D interval had a 24-hour peak rate of 2,063 Boe/d (33% oil) at a flowing casing pressure of 3,800 PSI. The Lindsay 16-6H well in the D interval posted a 24-hour peak rate of 1,662 Boe/d (18% oil) at a flowing casing pressure of 4,400 PSI.

WPX is scheduled to spud its second long lateral in the Delaware Basin – a 2-mile lateral from the CBR 6-7 pad – in December. This is the first of four 2-mile laterals scheduled in CBR sections 6 and 7. In late December, WPX also is scheduled to spud a 1.5-mile lateral on the Lindsay 10-15 pad.

Drilling on a nine-well spacing test in the upper and lower Wolfcamp A is expected to conclude in January, with first sales expected in February and March. The project is designed to validate 16-well Wolfcamp A drilling spacing units.

Progress also is occurring on WPX’s midstream expansion. The company is ready to break ground on the first phase of its Permian crude oil gathering system this month, with an in-service date for the first 13 miles of pipe set for the first quarter of 2017. 

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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Stay Informed

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WPX: A Bias For Action

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