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2Q 2019 HIGHLIGHTS

WPX reported unaudited second-quarter income available to common stockholders of $305 million, or income of $0.72 per share on a diluted basis.

Excluding the Oryx gain and other items such as derivatives, WPX posted adjusted net income of $0.09 per share. A reconciliation accompanies this press release.

Total production in the second quarter averaged 159.6 MBoe/d, which was 28 percent higher vs. a year ago. Oil and natural gas liquids volumes comprised 79 percent of total volumes. Oil sales of $511 million from 97.9 Mbbl/d accounted for 92 percent of second-quarter product revenues.

Cash flow from operations, inclusive of hedge impact, in the first half of 2019 was $634 million, including $362 million in the second quarter. Cash flow for the first half of 2019 was 48 percent higher than the same period a year ago.

WPX’s Delaware production averaged 96.6 Mboe/d in second-quarter 2019, which was 30 percent higher than 74.4 Mboe/d in the same period a year ago.

WPX’s average realized oil price in the Delaware was WTI plus $0.23 for the quarter, including Midland basis swaps. The basis swaps increased the average realized price by $0.64 per barrel.

Williston Basin production averaged 63.0 Mboe/d in second-quarter 2019, which was 25 percent higher than 50.6 Mboe/d in the same period a year ago.

The highest 24-hour rate for the second-quarter Williston completions was 5,862 Boe/d (81% oil) on the Minot Grady 26-35HD well. The seven-well pad averaged nearly 4,300 Boe/d (81% oil) during initial production.

WPX’s 2019 total capital development plan remains unchanged at $1,100-$1,275 million, including $1,000-$1,100 million for operated D&C activity; $50-$75 million for non-op D&C activity; and $50-$100 million for midstream opportunities.

record-setting well

A Williston well in the 2Q set a new WPX record for output during initial production at 5,862 boe/d.



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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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