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2Q 2017 HIGHLIGHTS

WPX's second-quarter 2017 results mark an all-time high for the company’s liquids production and reflect unaudited net income attributable to common shareholders of $72 million, or income of $0.18 per share on a diluted basis.

Total liquids production (oil and NGL) surpassed 70,000 barrels per day for the first time in a quarter, averaging 72,400 barrels per day in second-quarter 2017. This was 17 percent higher than WPX’s prior best for liquids production (62,000 barrels per day in fourth-quarter 2015) when its portfolio included Piceance Basin operations that have since been divested.

Liquids growth was driven by WPX’s third consecutive quarterly high for oil output. Second-quarter 2017 oil production of 58,600 barrels per day was 27 percent higher than the most recent quarter and up 43 percent vs. the same period a year ago.

All three of WPX’s operating areas posted double-digit oil growth vs. the most recent quarter, led by a 49 percent increase in the Delaware Basin following a full-quarter benefit from volumes associated with the Panther acquisition in March.

“Since my first quarterly webcast at WPX three years ago, we’ve undertaken more than $7 billion of transactions, transformed the company’s portfolio and doubled our oil production,” said Rick Muncrief, chairman, president and chief executive officer.

“Without question, we’re reaping attractive results from our long-term strategy. Most importantly, we remain intensely focused on reaching our deleveraging goals by year-end 2018,” Muncrief added.

In the Delaware Basin, WPX’s easternmost Wolfcamp A well to date – the Blue 34-1H well – had 30-day production averaging 1,560 Boe/d (69% oil). A Second Bone Spring Sand well had 30-day production averaging 1,215 Boe/d (56% oil). A Third Bone Spring well had 30-day production averaging 1,647 Boe/d (50% oil). In the Wolfcamp D interval, the East Pecos 22-9H had 30-day production averaging 2,051 Boe/d (31% oil).

In the Williston Basin, six wells on the Etstatis pad posted a 24-hour peak IP average of 2,809 Boe/d (81% oil) and 30-day cumulative production averaging 53,303 Boe per well. The highest IP occurred on the Etstatis 32-29HA well which posted a 24-hour high of 3,532 Boe/d. The same well had cumulative 30-day production of 64,779 Boe. 

In the San Juan Basin, WPX has a 12-month permit inventory and already has completed the vast majority of its pad and facilities construction for its planned development through early 2018.

2Q WEBCAST EVENT

more boom in the Bakken 

3 wells canvass

6 WELLS ON THE ETSTATIS PAD POSTED AN AVG. PEAK RATE OF 2,809 BOE/D PER WELL (81% OIL). 

2Q 2017 WELL RESULTS



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Our Innovations

Our Innovations

Learn more about some of our innovative technologies – like the split rigs we developed to access tight, narrow canyons in Western Colorado.

The Strength of Our People

The Strength of Our People

Learn what it’s like to work at WPX. We’re always looking for great people to join our team.

Poised for Growth

Poised for Growth

As of YE 2015, we have 271.6 MMBoe of proved reserves in our three core areas.

We Are WPX

We Are WPX

Learn more about us, our history and our values. At WPX, we’re inspired, involved and determined.

WPX: A Bias For Action

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REMINDER: The $WPX 3Q webcast takes place on Thursday, Nov. 2, starting at 10 a.m. Eastern. Join the event @ http://bit.ly/2fFt3ae
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