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CEO PERSPECTIVE ON 3Q

“WPX is financially strong, has decades of drilling inventory, is making dramatic operational improvements and will continue to benefit from our attractive hedges.” 

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PROTECTING CASH FLOW

WPX has more than 27,000 barrels per day of oil hedged at $61.70 per barrel in 2016. We also have 9,000 barrels per day hedged at a similar rate in 2017.

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boosting our oil barrels

PRODUCING MORE OIL IS PART OF WPX’S VALUE CREATION STRATEGY. WE ARE MAKING SIGNIFICANT PROGRESS.

WPX FACT SHEET

 

 Oil Production Growth Chart Hannahlg 01

 

THIRD-QUARTER 2015 SUMMARY

WPX’s third-quarter 2015 results reflect the successful close of the company’s acquisition of Permian Basin properties in mid-August and continued operational improvements in its portfolio.

WPX set a new high for liquids production including a partial quarter of Permian volumes, averaging 56,500 barrels per day of oil and NGL in third-quarter 2015. Oil production alone surpassed 35,000 barrels per day for the first time and accounted for 21 percent of total equivalent production, up from 15 percent a year ago.

Enhanced completion designs on wells in the Permian and Williston basins are also yielding early-time results that exceed existing type curves, pointing to opportunities for increased shareholder value. WPX will continue to aggressively test and evaluate larger stimulations.

WPX reduced cash operating expenses by 21 percent in the third-quarter and continued to make progress on deleveraging with the signing of a $185 million agreement to sell a North Dakota gathering system and closing an $80 million divestiture of Wyoming interests. WPX expects to close the sale of the North Dakota gathering system this month.

WPX is now more than half of the way toward its goal of $400-$500 million in divestitures by the end of the year. The company also has processes under way to market a San Juan Basin gathering system and to evaluate opportunities for accelerating value in the Piceance Basin.

 “We continue to rapidly execute on our plans to reduce debt, drive down costs and bring more balance to our commodity mix,” said Rick Muncrief, president and chief executive officer.

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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NOW HIRING

NOW HIRING

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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There’s a new energy at WPX

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Focused on resource development in the U.S. West

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Copyright 2014 WPX Energy

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