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3Q COMMENTARY

“We delivered phenomenal growth over the past twelve months as higher oil volumes resulted in better margins and deleveraging."

3Q NEWS

3Q PERMIAN OIL UP 9% VS. 2Q

Oil revenues of $1.3 billion during the first three quarters of 2018 were 133% higher than the same period a year ago. 3Q 2018 oil volumes were 83,400 bbl/d.

PRESENTATION

STRAIGHT FROM THE TOP

“We’re staying true to our capital plan, growing margins nicely & doing things from a technical standpoint that are cutting-edge.”

REPLAY

consistency

DELIVERING OIL GROWTH, AS EXPECTED


3Q 2018 WELL PERFORMANCE

In the Delaware Basin, WPX had 27 wells with first sales in the basin during the third quarter, including 15 long laterals of at least 1.5 miles each. A third of the first sales occurred in the last half of September. Most of the activity occurred in the Wolfcamp A interval.

Six of the first sales had 24-hour initial production highs exceeding 5,000 Boe/d, including the Lindsay 10-3G-7H well at 6,200 Boe/d (53% oil) and the Lindsay 10-3E-5H well at 6,100 Boe/d (53% oil). Both are 1.5-mile laterals.

WPX also is seeing favorable results from the Third Bone Spring formation following the completion of two third-quarter wells on separate CBR pads in the company’s core Stateline area. Early-time results are comparable to Wolfcamp A productivity and economics.

The CBR 11-2-1H well in the Third Bone Spring had an initial production high of 4,503 Boe (52% oil) with a 60-day average of 2,955 Boe/d. The CBR 9-4-13H well in the Third Bone Spring had an initial production high of 4,105 Boe/d (54% oil) during its first 20 days.

In the Williston Basin, WPX completed 19 Williston wells during the third quarter – 10 from the Bakken interval and nine from the Three Forks formation. All of the wells are two-mile laterals. The highest initial production rate occurred on the Otter Woman 34-27HG well that posted 4,567 Boe/d (81% oil).

The five-well Otter Woman pad has 60-day cumulative production of approximately 488,000 Boe (81% oil). Initial production on the pad averaged 3,882 Boe/d (81% oil), including the 34-27HG well.

The seven-well Hidatsa North pad has cumulative 30-day production of approximately 513,000 Boe (81% oil). Initial production on the pad averaged 3,531 Boe/d per well, with a high of 4,206 Boe/d on the Hidatsa North 14-23HD well.

The five-well Grizzly pad was completed near the end of the third quarter. Initial production on the pad averaged 3,582 Boe/d (81% oil), with a high of 4,178 Boe/d on the Grizzly 25-36HF well.

Third-quarter completions also included two wells from the three-well Behr pad. It now has 90-day cumulative production of approximately 442,000 Boe (81% oil), with an initial production high of 3,585 Boe/d on the Behr 19-18HUL well.

3Q HIGHLIGHTS

OUR PERMIAN PRIZE

Our COO Clay Gaspar goes on camera to talk about how we're developing world-class assets in the Permian Basin. You can see the video here.



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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Careers

Careers

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

DIVERSE EXPERIENCE

DIVERSE EXPERIENCE

Young engineers can hit the ground running and make an immediate impact at WPX. Just ask Ashley Goletz.

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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WPX: A Total Transformation

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You'd be smiling, too, if you saw the breaking news from the USGS about the Wolfcamp and Bone Spring formations in the Permian Basin. Our acreage is right smack in the middle of what is being called "the largest oil & gas resource ever assessed." https://bit.ly/2Ssdowy
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This sign graces our home in the #Permian Basin. And this new report (https://on.doi.gov/2AV1MuH) by the USGS is a str… https://twitter.com/i/web/status/1070788643911032832
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Next milestone: 100,000 bbl/d of oil

Copyright 2018 WPX Energy

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