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$60 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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ESTIMATED ULTIMATE RECOVERIES

WPX is increasing its estimated ultimate recoveries (EURs) for its Delaware Basin wells by 34% and its Williston Basin wells by 13%.

1Q SLIDE DECK

CEO TALKS WITH HART ENERGY

Watch Rick Muncrief's interview with Hart Energy about our A&D activity. WPX has engineered a $5 billion transformation through deal flow.

VIDEO

a rapid transformation

WPX'S PRODUCTION MIX HAS SHIFTED DRAMATICALLY VS. A YEAR AGO

 

 Production Shift Circle Chart

 1Q 2016 FACT SHEET

 

1Q 2016 DELAWARE BASIN HIGHLIGHTS

WPX is increasing its EURs for its Delaware Basin wells in the Permian to 900 Mboe, up 34 percent from its acquisition type curve of 670 Mboe. The company plans to increase its rig count in the Delaware from two to three during the second half of the year without increasing its capital budget.

Delaware production averaged 17.4 Mboe per day in the first quarter, up 6 percent vs. the sequential quarter. Notably, WPX’s oil production increased 32 percent vs. the sequential quarter. Natural gas and NGL production was impacted by an outage at a third-party gas processing plant.

Subsequent to the close of the first-quarter, WPX completed the Lindsay 2-4H well in the Wolfcamp A that achieved a rate of 2,060 Boed at a flowing casing pressure of 3,700 PSI during initial production.

The 2-4H follows another Lindsay Wolfcamp A well – the 16-2H – completed in February that posted 30-day production averaging 1,342 Boed at a flowing casing pressure of 3,960 PSI. Both of the Lindsay wells represent early-time production records for WPX’s 1-mile Wolfcamp wells using 1,500-pound completions.

WPX’s first completion in the Delaware using 2,000 pounds of sand per foot – the Haley 36-1H – now has cumulative production of 121 Mboe through 120 days. The well is averaging 73 percent oil. Production at the end of April was 868 Boed.

WPX drilled eight Wolfcamp A wells (gross) in the Delaware Basin in the first quarter, reducing drilling times by 10 percent vs. a year ago to an average of 34.8 days per well. The company’s vision is to reach 20 days per well in the Wolfcamp.

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.

Stay Informed

Stay Informed

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WPX: A Bias For Action

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A Bloomberg story is putting the spotlight on the upside in the Delaware Basin, where WPX acquired a substantial position across stacked pay intervals in mid-2015. We have two rigs in the basin, with a third rig scheduled for October. The Bloomberg story is at http://goo.gl/5swQhm
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Working to increase oil volumes 5X higher

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Copyright 2014 WPX Energy

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