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4Q 2019 HIGHLIGHTS

WPX reported fourth-quarter 2019 oil volumes of 111,700 barrels per day, which was 16 percent higher vs. a year ago and 3 percent higher than third-quarter 2019.

Excluding forward mark-to-market losses on derivatives and other items, WPX posted adjusted net income from continuing operations (a non-GAAP financial measure) in fourth-quarter 2019 of $42 million, or income of $0.10 per share.

Cash flow from operations, inclusive of hedge impact, was $1,257 million in 2019, including $351 million in the fourth quarter.

Free cash flow in the second half of the year was $101 million, including $56 million in the fourth quarter. A reconciliation of free cash flow accompanies this release.

“Quite simply, we achieved or exceeded our 2019 targets and accelerated our longer-term targets,” said Rick Muncrief, WPX chairman and chief executive officer.

“We displayed discipline in our capital budget, generated free cash flow in the back half of the year, began returning capital to stockholders a year ahead of schedule, and generated handsome returns on two of our midstream investments.”

Delaware Basin production increased 23 percent year-over-year, rising from an average of 78.2 Mboe/d in 2018 to 96 Mboe/d in 2019.

Williston Basin production increased 45 percent year-over-year, rising from an average of 48.9 Mboe/d in 2018 to 70.9 Mboe/d in 2019.

Oil and NGL sales of $583 million accounted for 97 percent of WPX’s fourth-quarter total product revenues of $601 million. Quarterly oil revenue grew 20 percent vs. the same period in 2018 driven by higher production volumes. Total oil sales in 2019 were just over $2 billion.

big "Bird"

OUR 4-WELL BIRD BEAR PAD HAS 360-DAY CUMULATIVE OIL PRODUCTION OF MORE THAN 1.3 MILLION BARRELS. 



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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

At year-end 2018, we had 479.3 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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$WPX reduced its flaring rate in the Permian Basin by 50% in 2019. Learn more in our latest ESG report:… https://twitter.com/i/web/status/1245703650653229065
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Nearly 90% of product revenues from oil

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