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WPX’s focus on margins helped overcome commodity prices that drove product revenues down $220 million, or 42 percent, in 1Q 2015 vs. a year ago



Liquids production surpassed 50,000 barrels per day for the first time in 1Q 2015, with oil and NGL volumes accounting for 30% of WPX’s total production.



For 2015, we’ve locked in approximately two-thirds of our projected oil volumes at an average of nearly $95 per barrel. Learn more about our hedging activity.



“We continue to move the needle on well costs, operating costs, production and deal flow. First-quarter 2015 was tremendous for us when you consider just how far commodity prices fell and what we still achieved in earnings per share,” says Rick Muncrief, WPX CEO.

 As a result of targeted capital allocations, productive discussions with service providers, ongoing process improvements and continued resource assessment, WPX:

  • Increased crude oil volumes 79% vs. 1Q a year ago
  • Set a new high for total liquids production, surpassing 50,000 barrels per day
  • Reduced stimulation costs in the San Juan Gallup oil play 50% vs. 2014 average
  • Improved spud-to-spud time in the San Juan Gallup by 17% vs. 4Q 2014
  • Reduced LOE/Boe in the Williston Basin by 30% vs. 1Q a year ago
  • Brought two new Niobrara wells online that each posted I.P. rates of more than 10 MMcf/d
  • Decreased LOE, G&A and overall operating expenses vs. 1Q a year ago

 As part of its long-term strategy to improve margins, WPX has taken steps to lower the basis differential on its San Juan Basin Gallup oil sales from roughly $13 per barrel during 2014 to approximately $8 to $10 per barrel. WPX will start to realize a portion of this benefit in the second quarter, with the full impact realized in the second half of the year and beyond.

In the same basin, WPX also continues to build out a new oil, gas and water gathering system for its Gallup development activity. Last year WPX installed 95 miles of pipeline. WPX installed another 37 miles of pipe during the first quarter, with plans to construct another 55 miles during the balance of the year. This ultimately furthers margin expansion efforts in the basin.


“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

Contact Investor Relations

David Sullivan

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In addition to a 401k match, WPX also makes annual contributions to employee 401k accounts ranging from 6-8% of salary based on age.



WPX has more than 217,000 net acres in the San Juan Basin, including approx. 85,000 acres in the Gallup oil window.

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WPX employees recently supported the North Dakota Oil Can Pick up the Patch! event in Killdeer, N.D. About 38 volunteers from WPX and other companies covered 10 miles along Highway 22 on both sides to pick up 125 bags of trash. The event serves as a way for the energy industry to show support for the community by removing litter and encouraging residents and workers to keep the roadways clean. WPX is a member of the event's sponsor, the North Dakota Petroleum Council.

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3 core basins: Bakken, Piceance, San Juan

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