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2014 2Q PRESS RELEASE

WPX reported an unaudited net loss attributable to WPX Energy of $135 million for second-quarter 2014, or a loss of $0.66 per share on a diluted basis.

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2014 2Q Slide Presentation

Oil production showed dramatic growth in 2Q, increasing 57% year-over-year on a domestic basis, 37% on a consolidated basis including international volumes and 23% domestically vs. the sequential quarter.

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BARCLAYS CEO CONFERENCE

WPX CEO Rick Muncrief spoke at the Barclays CEO Energy-Power conference on Wednesday, Sept. 3. The slide presentation is available now.

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CEO PERSPECTIVE ON 2Q RESULTS

“Our exposure to high-margin oil basins strengthens the diversity in our portfolio and gives us the opportunity to deploy capital in the most optimal way,” said Rick Muncrief, who joined WPX as president and CEO in May.  

“WPX’s oil assets are an important part of our value creation ability. We’re excited about adding significant inventory in some of the highest quality acreage in the entire Williston Basin.

“I’m pleased with our progress and improving execution. It’s imperative for us to relentlessly focus on increasing our margins. We have to continually improve how we operate our assets to optimize the value in our portfolio.

“We’re exceeding our 2014 oil production guidance, bringing value forward in a creative, well thought out way and setting the stage for transforming WPX. 

“Our long-term vision for WPX is coming into focus and we’re solidifying our strategy for how we’re going to accomplish it. We’re working on it diligently and plan to roll it out this fall,” Muncrief added.

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


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Contact Investor Relations

David Sullivan
539.573.9360
WPXInvestorRelations@WPXEnergy.com



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A survey released by the American Petroleum Institute this month shows Colorado supports 213,000 jobs and adds $25.8 billion to the state's economy through supporting "nearly 30,000 operators, contractors, service companies, suppliers and other vendors." WPX is the largest producer of natural gas in Colorado, and our statewide payroll was $52 million in 2013. Over the years, WPX has worked with 740 companies, vendors and service providers in Colorado. For more, visit our WPX Colorado blog at http://lnkd.in/bSgN-Kq share our blog posts with your networks.
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Study shows #oil & #natgas industry supports 213k #jobs & adds $25.8B to #Colorado's economy. http://wpxcolorado.com http://t.co/bDtWClG2UC
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A survey released by the American Petroleum Institute this month shows Colorado supports 213,000 jobs and adds $25.8 billion to the state’s economy through supporting “nearly 30,000 operators, contractors, service companies, suppliers and other vendors.” WPX is the largest producer of natural gas in Colorado, and our statewide payroll was $52 million in 2013. Over the years, WPX has worked with 740 companies, vendors and service providers in Colorado. For more, visit our blog at http://www.wpxcolorado.com/and share our blog posts with your networks.


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