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2015 Guidance Release

WPX announced a 2015 capital plan of approximately $725 million, in line with the company’s projected operating cash flow. See details in our guidance presentation.

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2014 RESULTS PRESS RELEASE

WPX Energy’s unaudited results for full-year 2014 reflect net income of $164 million and a 74% increase in cash margins from continuing operations. 

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2014 RESULTS PRESENTATION

WPX increased oil production by 56%, posted a proved oil replacement ratio over 400% and achieved a 4% increase in equivalent production normalized for asset sales.

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2014 HIGHLIGHTS

WPX’s 2014 financial highlights include $190 million higher oil sales, $106 million higher natural gas sales, and a 68 percent increase in net cash provided by operating activities vs. 2013 results.  

During the fourth quarter, oil and natural gas liquids (NGL) sales accounted for 50 percent of WPX’s product revenues and 28 percent of production volumes. Diversifying the company’s historically gas-weighted production is part of WPX’s long-term, multi-year strategy. 

Oil volumes were 32,300 barrels per day in fourth-quarter 2014, up 71 percent over a year ago and 25 percent higher than the sequential quarter. 

During the year, WPX also entered into six agreements with an aggregate value of more than $1 billion to narrow the company’s business focus, increase scalability of core assets, bring value forward and further strengthen its balance sheet.

Operationally, WPX increased proved oil reserves by 28 million barrels in 2014 and achieved a 40 percent improvement in drilling times on Gallup oil wells in the San Juan Basin. 

“We executed extremely well last year, delivered on our word and took timely action to start the transformation of the company,” said Rick Muncrief, president and chief executive officer.

“We divested non-core operations, sharpened our geographic focus, boosted oil production, increased cash flow, put a new credit facility in place and launched a long-term strategy to expand margins and profitably grow the company.

“Today, we are well positioned for the challenges and opportunities presented by lower commodity prices. Being successful in this environment means staying proactive and opportunistic,” Muncrief added.

CEO ON STRATEGY

“We’re defining what success looks like and providing a means to track our progress. This is part of creating a high accountability culture at WPX.”  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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Environmentally Sound

Environmentally Sound

We care about corporate social responsibility and doing what’s right.

Operations

Operations

We’re in some of the best natural gas, oil and natural gas liquids basins in the nation: the Piceance, the Williston and the San Juan.

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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Inspired. Involved. We’re WPX.

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WPX is building relationships with San Juan College School of Energy. In fact, the San Juan Basin is home to our company's first natural gas properties (circa 1983). Jordan Domingo (front left) and Jerrick Sandoval (front right) are recipients of a scholarship program we support. WPX is proud to help promote our industry to young people who are considering careers in oil and gas.
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$WPX completed 53 gross #WillistonBasin #oil wells in 2014, compared to 49 gross wells in 2013 http://goo.gl/6eX3ng
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2014 was a transformational year for WPX. We reported net income, increased oil production, and had higher cash flow from operations. Our full earnings report is available at goo.gl/6eX3ng


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WPX: Reshaped and Refocused

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Copyright 2014 WPX Energy

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