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4Q 2018 HIGHLIGHTS

WPX reported fourth-quarter 2018 oil volumes of 96,000 barrels per day, which was 49 percent higher vs. a year ago and 15 percent higher than third-quarter 2018.

WPX reported unaudited fourth-quarter 2018 net income from continuing operations attributable to common shareholders of $353 million, or income of $0.83 per share on a diluted basis. The same measure for full-year 2018 was $234 million, or income of $0.57 per share. 

“Without question, 2018 was a pivotal year for WPX. We reduced our operating areas from three to two, paid down nearly $500 million of senior notes, achieved our deleveraging goal and continued to benefit from our midstream strategy,” said Rick Muncrief, chairman and chief executive officer. 

Oil and NGL sales of $508 million accounted for 93 percent of WPX’s fourth-quarter total product revenues of $544 million. Quarterly oil revenue grew 49 percent vs. the same period in 2017 driven by higher production volumes. Total oil sales in 2018 were $1,790 million.

WPX completed 147 gross operated wells (132 net) across its operating areas during 2018 and participated in another 41 gross (8 net) non-operated wells.

WPX’s proved reserves at Dec. 31, 2018, were 479.3 MMboe. Sixty-one percent of the company’s proved reserves are oil.

Delaware production averaged 99.6 Mboe/d in fourth-quarter 2018, up 32 percent vs. the sequential quarter and 70 percent higher than the same period in 2017.

Williston Basin production averaged 56.8 Mboe/d in fourth-quarter 2018, up 17 percent vs. the sequential quarter and 47 percent higher than the same period in 2017.

technical advances

OUR PERMIAN COMPLETION DESIGNS ARE DRIVING GREATER AMOUNTS OF LATERAL FOOTAGE COMPLETED PER DAY.



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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 is a nominee for the 2019 Community Impact Award presented by the Oklahoma Business Ethics Consortium. Winners are announced April 23. https://bit.ly/2Bzd89d
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Decades of oil drilling

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