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WPX reported an unaudited net income of $18 million for 1Q 2014, or income of $0.09 per share on a diluted basis, compared with a net loss of $116 million, or a loss of $0.58 per share, in 2013.


2014 1Q Slide Presentation

WPX reported an unaudited net income of $18 million for 1Q 2014, or income of $0.09 per share on a diluted basis, compared with a net loss of $116 million, or a loss of $0.58 per share, in 2013.


Our 2013 Annual Report

WPX is known for driving innovation and efficiencies in our field operations, and these attributes will continue to serve as building blocks for shaping the company. We are fully engaged in a transformational time at WPX.



Our Board of Directors has named Richard E. Muncrief as WPX’s next president and CEO. The appointment is effective May 15, 2014. He also will join the WPX board following the company’s annual meeting of shareholders on May 22.

Muncrief, 55, is a petroleum engineer who has more than 30 years of upstream and midstream energy experience, most recently as senior vice president of operations and resource development at Continental Resources (NYSE:CLR) where he oversaw corporate engineering, reservoir development, drilling, production operations and supply chain management.

During his tenure with Continental – where he worked since June 2009 until his appointment at WPX – Muncrief helped Continental increase reserves, production and share price by more than four-fold while lowering production expense by more than 15 percent.

“Rick has an accomplished record of sizing things up and driving plans that produce exceptional results, profitable growth and lower costs,” said WPX Chairman William G. Lowrie. “He has prior experience in our growth areas, particularly the Williston and San Juan basins, and is ready to hit the ground running.

“Our board believes that Rick is going to connect very well with investors and employees alike as he charts a strategic course for WPX. His technical acumen, driven nature, operations experience and character are a great fit for shaping the future of the company,” Lowrie added.

Muncrief has worked in organizations of differing size ranging from independents to a large super-major, notably 27 years with ConocoPhillips, Burlington Resources and their predecessor companies in various technical and leadership capacities.

New WPX CEO Rick Muncrief (center) worked on his first Bakken oil well in 1984.

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800.884.4225 or 781.575.2879

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David Sullivan

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We’re in some of the best natural gas, oil and natural gas liquids basins in the nation

We Are WPX

We Are WPX

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North Dakota's #Bakken where @WPXEnergy operates is one of America's "elite" oil fields
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North Dakota's #BakkenShale, an area where WPX operates, is deemed one of America's "elite" oil fields - boasting membership in the one million barrels per day club and contributing largely to the U.S.'s total energy needs. Read more:

US oil's new 'Big Three' form million barrel club
The Bakken, Eagle Ford and Permian Basin are generating more than a million barrels of oil per day each, a third of U.S. daily production.
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