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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.



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. 



WPX CEO Rick Muncrief is spoke at the 43rd annual Scotia Howard Weil energy conference on Monday, March 23.



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.


“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 >

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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.

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WPX CEO Rick Muncrief appeared on CNBC's Squawk Box to talk about oil prices, exports and the company's performance. Watch an excerpt of the interview??:
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In Piceance @WPXEnergy moves frac fluid via temporary pipelines – reducing truck traffic by approx 12,000 trips.
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At our Hayes Gulch operation in the Piceance Basin, we moved frac fluid via temporary pipelines instead of trucks – eliminating some 12,000 truck trips to the well pad. WPX District Manager Tyler Bittner says, “Cutting truck trips cuts noise and dust, and danger to wildlife.” Read the news story:

Pipe dream now a reality |
Grand Junction - When WPX Energy developed 87 natural gas wells from 14 pads at Hayes Gulch east of Parachute, it made use of one centralized facility to
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Strong balance sheet & liquidity

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Copyright 2014 WPX Energy