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WILLISTON EUR UPDATE

WPX is now recognizing a blended type curve of approximately 750 Mboe for its wells in the Middle Bakken and Three Forks formations, up 25% from previous estimates of 600 Mboe. 

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INVESTOR PRESENTATION

 WPX Energy announced a definitive merger agreement to acquire privately held RKI Exploration & Production, LLC. The assets include approx. 3,600 gross risked drilling locations.

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WPX ENTERS TRANSFORMATIVE TRANSACTION TO INCREASE OIL 

Acquiring ~92,000 net acres in the core of the Permian’s Delaware Basin, ~98% of which is held by production.

The Permian is known for stacked reservoirs, extensive production history, long-lived reserves & high drilling success rates.

WPX is projecting oil production growth of ~125% from current 2015 guidance to 2017 pro forma projections. 

boosting our oil barrels

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

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Oil Production Growth Chart

TRANSFORMING WPX: THE PERMIAN ACQUISITION

Here’s what our CEO Rick Muncrief says about WPX’s definitive merger agreement to acquire RKI Exploration & Production:

“We have a plan in place, we’re executing very well and it shows in our results. We believe this transaction will help us take our plan further and execute it faster.

This is a transformative opportunity that fits perfectly with our strategy to increase our oil production and high-quality oil inventory. RKI’s asset scale and concentrated acreage position allows for efficient, low-cost, multi-decade development in a world-class oil play.

For our shareholders, this further drives high-margin oil growth, accelerates our portfolio transition to more liquids, and solidifies our premier position in the western United States, which enjoys the advantages of established infrastructure and higher realized commodity prices.

This transaction drives significant, measurable value for shareholders. RKI’s wells generate 30 percent returns at $60 WTI prices and we look forward to capturing upside beyond that by employing additional completion technology.

I want to personally acknowledge RKI’s Founder, President and CEO, Ronnie Irani, and his team for the successful company they’ve built and for recognizing our ability to take these assets to the next level. We’re excited to bring two companies together to create a new one that will have a deep oil inventory, massive natural gas optionality and long-term growth visibility.”

CEO MESSAGE ON ACQUISITION

“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

Sign up to keep up-to-date with our latest investor news and events through timely email alerts.

There’s a new energy at WPX

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See yourself @WPXEnergy. Apply for our Client Support Analyst IV position: https://goo.gl/QYoFX8 http://t.co/enyvl7W1Cg
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WPX recently donated to the San Juan College School of Energy in Farmington, N.M., which is completing a new 65,000-square-foot facility that will house classes and programs for students earning degrees or certification for oil and gas industry training. The facility’s inaugural courses begin in August and will include compression, well control, process operation and much more. WPX greatly benefits by helping students gain the hands-on learning experiences needed when they graduate and enter the work force.
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Active in A&D: More than $1.5 billion of transactions

This website may contain forward-looking statements. Please review our forward-looking statement disclaimer here.

Copyright 2014 WPX Energy

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