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HIGHER EXPECTATIONS

WPX expects 4Q oil volumes of 109-111 Mbbl/d. This also raises the full-year 2019 outlook for oil volumes to 102-104 Mbbl/d, up from 101-103 Mbbl/d.

3Q PRESS RELEASE

PERMIAN POWER

Two 3Q Third Bone Spring wells on the CBR 6-7 pad had 60-day cumulative production of nearly 365,000 Boe. Both hit a 24-hour IP high exceeding 4,300 Boe/d (59% oil).

3Q HIGHLIGHTS

MORE BAKKEN BOOM

WPX completed 26 Williston wells during the third quarter, including 14 wells in the Bakken formation and 12 wells in the Three Forks formation.

3Q RESULTS

consistent execution

RAISING 4Q & FULL-YEAR OUTLOOK

WPX is forecasting stronger fourth quarter oil volumes than originally detailed in its quarter-to-quarter guide for 2019.

This momentum also is driving the anticipated 2019 exit rate higher with no additional capital allocation. WPX originally forecast 5-10 percent growth vs. the 2018 exit rate. WPX now expects this year’s exit rate to grow 15 percent vs. a year ago.

WPX expects fourth-quarter oil volumes of 109-111 Mbbl/d. This also raises WPX’s outlook for full-year 2019 oil volumes to 102-104 Mbbl/d, up from its most recent estimate of 101-103 Mbbl/d.

WPX now expects full-year total production of 162-167 Mboe/d in 2019, up from its most recent estimate of 160-165 Mboe/d.

With one quarter remaining in the year, WPX’s tightened the range for its 2019 total capital development plan to $1,125-$1,250 million. The midpoint remains unchanged from the previous estimate of $1,100-$1,275 million.

Total capital spending in the third quarter was $264 million, predominantly from $233 million in D&C activity for operated wells and $22 million for midstream infrastructure.

In August, WPX announced a plan to repurchase up to $400 million of its shares over the next 24 months. To date, the company has since repurchased $58 million of its common stock at an average price of $10.16 per share, retiring 5.7 million shares.

During the third quarter, WPX completed tender offers repurchasing $456 million of its outstanding 6.00 percent notes due in 2022 and $94 million of its 8.25 percent notes due in 2023 through a public offering for 5.25 percent notes due in 2027.

These actions reduced WPX’s weighted average interest rate for long-term debt from 6.24 percent to 5.93 percent, effectively lowering its annual interest expense by approximately $4 million going forward.

3Q SLIDE DECK

3Q RESULTS

Oil & NGL volumes accounted for 78% of third-quarter 2019 total production of 173.4 Mboe/d. Oil volumes averaged 108,600 bbl/d during the quarter.



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

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DIVERSE EXPERIENCE

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WPX: A Total Transformation

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Next milestone: 100,000 bbl/d of oil

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