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WPX ENERGY LAUNCHES INVESTOR ROAD SHOW

TULSA, Okla.Dec. 6, 2011 /PRNewswire/ --  WPX Energy has begun an investor road show as it prepares to become an independent, publicly traded corporation pending a planned spinoff from Williams (NYSE: WMB) at year-end.

Meetings will be led by Ralph A. Hill, chief executive officer; Rodney J. Sailor, senior vice president and chief financial officer effective at spinoff; and Neal A. Buck, senior vice president of business development and land effective at spinoff.

The road show presentation is available in the investor center atwww.wpxenergy.com. It highlights the company's assets in the oil-rich Bakken Shale, the natural gas-producing Marcellus Shale and the Piceance Basin where it produces both natural gas and natural gas liquids.

Additionally, WPX's Form 10 Registration Statement for common stock has been declared effective by the Securities and Exchange Commission. It is available online via the WPX and SEC websites.

During October, WPX had average daily production of 1.3 billion cubic feet equivalent from its domestic and international properties, including 14,800 barrels per day of oil and 26,800 barrels per day of natural gas liquids. International volumes come via a 69 percent controlling interest that WPX owns in Apco Oil and Gas International (NASDAQ: APAGF).

WPX's production for third-quarter 2011 was up 13 percent versus the same period in 2010.

"When you look at our track record, we have achieved a double-digit compound annual growth rate in production over the past 10 years, all while establishing leading cost efficiencies and applying technological improvements to our operations," CEO Ralph Hill said.

"We believe we can apply that history of success to the growth opportunities we have in our newly established liquids and oil-producing areas. And financially, we have created a strong balance sheet and a conservative capital structure."

WPX common stock is expected to begin trading on a "when-issued" basis on the NYSE under the ticker symbol "WPX WI" (when-issued) on or about Dec. 12, 2011. On Jan. 3, 2012, WPX is expected to begin trading "regular way" under the symbol "WPX."

Completion of the spinoff from Williams is subject to a number of conditions which are described in the Form 10. The spinoff is supported by lead financial advisers Barclays Capital and Citi, as well as J.P. Morgan. Gibson, Dunn & Crutcher LLP is providing legal advice.

Concurrent with the road show, WPX has unveiled its website featuring original images of company operations and employees from around the country.

"Our people don't just carry our brand, they define our brand," Hill said. "We want our website to be a place where our stakeholders can see the heart and character of our people and the passion they bring to their careers."

Visitors to www.wpxenergy.com  can find company history, state-by-state fact sheets, information about the company's voluntary hydraulic fracturing disclosures, a candid letter from the CEO and a summary of WPX's production growth. Today, WPX is one of the nation's 10 largest producers of natural gas.

About WPX Energy, Inc.

WPX Energy is an exploration and production company focused on developing its significant natural gas, natural gas liquids and oil reserves, particularly in the Piceance Basin, Bakken Shale and Marcellus Shale.  The company also has domestic operations in the Powder River and San Juan basins and the Barnett Shale, as well as international investments in Argentina and Colombia.  Based inTulsa, Okla., WPX Energy is a wholly owned subsidiary of Williams (NYSE: WMB) until a planned spinoff at year-end 2011.   Go tohttp://www.wpxenergy.com/investor-center/subscribe-to-email/ to join our e-mail list.

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements.  Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company.  Statements regarding future drilling and production are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas.  These risks include, but are not limited to, the volatility of oil, natural gas and NGL prices; uncertainties inherent in estimating oil, natural gas and NGL reserves; drilling risks; environmental risks; and political or regulatory changes.  Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.  The forward-looking statements in this press release are made as of the date of this press release, even if subsequently made available by WPX Energy on its website or otherwise.  WPX Energy does not undertake and expressly disclaims any obligation to update the forward-looking statements as a result of new information, future events or otherwise.  Investors are urged to consider carefully the disclosure in our filings with the Securities and Exchange Commission, available from us at WPX Energy, Attn:  Investor Relations, P.O. Box 3102, Tulsa, Okla., 74101, or from the SEC's website atwww.sec.gov.

MEDIA CONTACT:

INVESTOR CONTACT:

Kelly Swan

David Sullivan

(918) 573-4944

(918) 573-9360

 

SOURCE WPX Energy, Inc.



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