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A TON OF OPPORTUNITY

Our Chief Operating Officer Clay Gaspar discusses how we're managing infrastructure for 1,000 barrel per day oil wells and driving down LOE.

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MIDSTREAM JV PRESS RELEASE

The JV includes new crude oil gathering and gas processing assets. It does not include WPX’s  gas and water systems that we acquired from RKI in 2015.

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OIL VOLUME TOPS 50,000 BBL/D

1Q oil volumes of 46,100 bbl/d has since been eclipsed by higher rates. Production from first sales in April have driven production higher to approx. 55,000 bbl/d.

SEE THE SLIDES

oil growth on track  

DELIVERING. WITH DISCIPLINE.

 

 1Q17oil Production Growth Chart

WPX PLANS TO RUN 10 RIGS THIS YEAR.

EXECUTING ON OUR 2020 VISION

On March 10, WPX completed a previously announced transaction to acquire Delaware Basin assets from Panther Energy Company II, LLC and Carrier Energy Partners, LLC. The operations include existing production, approximately 18,000 net acres, more than 900 gross undeveloped locations and an existing two-rig program.

During the first quarter, WPX also completed another acquisition in the Delaware Basin for acreage that is exploratory in nature. This is a large contiguous area covering approximately 17,900 acres on a ranch in Culberson County. The purchase price was approximately $38 million. The terms include a 1-well commitment in 2018, two wells in 2019 and five more in 2020-2021.

Also in the Delaware Basin, WPX already has installed about half of its planned 50-mile crude oil gathering system in the Stateline area that initiated service in late 2016. WPX has 27 wells tied in, with flows approaching 10,000 barrels per day.

WPX is considering a joint venture for the Stateline oil gathering system and natural gas processing infrastructure. The evaluation process is on track, with an agreement expected midyear as planned.

Subsequent to the close of the first quarter, WPX signed an agreement with a major pipeline company to begin shipping natural gas from the Waha hub in the Permian Basin to Katy, Texas, in November of this year.  The agreement initially starts with 100,000 MMBtu per day and ramps up to 200,000 MMBtu per day, providing WPX with multiple sales outlets in the Katy area.

“I like how our growth story is unfolding,” said Rick Muncrief, chairman, president and chief executive officer. “WPX 2.0 is all about showing what we can do with an oil-focused portfolio that’s anchored by assets in one of the world’s most prolific plays. The key to achieving our ambitious goals for the next four years is continued, fundamental execution.”

1Q 2017 RESULTS

KEEPING COSTS IN CHECK

Our supply chain management function is turning out to be a competitive advantage as demand for oilfield services increases. Hear more from WPX Director Alan Killion.



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 COO at JP Morgan: "Self-sourcing is working exceptionally well for us. Gives us optionality and flexibility in our operations."
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WPX's Chief Operating Officer Clay Gaspar spoke at the J.P. Morgan energy conference on Monday. You can catch the webcast replay at http://bit.ly/2sZM3Za. Note: To access the event, sign in as a first-time user on the home screen, then accept the terms, then you'll be there.
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Working to increase oil volumes 5X higher

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Copyright 2014 WPX Energy

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