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WPX reported third-quarter oil volumes of 83,400 barrels per day, up 3 percent vs. the most recent quarter and 54 percent higher than a year ago. Quarterly oil revenues eclipsed half a billion dollars for the first time in company history.

Current oil volumes are approaching 90,000 bbl/d. This reflects the benefit of Williston Basin first sales that occurred near the end of the third quarter, including the seven-well North Hidatsa pad.

WPX’s new joint venture gas plant in the Delaware Basin came online in late September. WPX is currently utilizing approximately 75 percent of the capacity on the plant’s first 200 MMcf/d cryogenic processing train.

In the Delaware Basin, WPX 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.

WPX reported an unaudited third-quarter 2018 net loss from continuing operations available to common shareholders of $6 million, or a loss of $0.01 per share on a diluted basis. The loss primarily was driven by $139 million of non-cash pre-tax net losses associated with its hedge book resulting from higher forward oil prices.

Adjusted net income from continuing operations in third-quarter 2018 was $29 million, or income of $0.07 per share. A reconciliation accompanies this press release.

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Annual Report

Annual Report

CEO: Our outlook is clear and compelling. Impressive cash flow growth. Disciplined capital investing.

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.

Proved Reserves

Proved Reserves

As of YE 2017, we have 436.2 MMBoe of proved reserves in our operating 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 Total Transformation

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Nearly 90% of product revenues from oil

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