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INVESTING IN INFRASTRUCTURE

WPX is in the midst of laying almost 200 miles of oil, gas and water pipes to support Gallup oil drilling in the San Juan Basin. This furthers our margin expansion efforts. 

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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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$95 OIL

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.

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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

2015 MARGIN EXPANSION

“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.

CEO ON STRATEGY

“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
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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