“In these unprecedented times, we’re acutely focused on keeping our employees healthy, protecting our cash flow and preserving our assets for future value creation.
“Our financial position is solid as evidenced by banks and lenders who recently reaffirmed our credit facility, along with the ratings agencies who reaffirmed our credit ratings in the last few weeks.
“Our experienced team also has taken numerous measures to reduce capital, expenses and the flow of our volumes in this dislocated market.
“We will continue to maintain the strength of our balance sheet and remain disciplined in our approach to the present challenges. Nothing is easy right now, but re-balancing supply with demand will take place over the remainder of the year.
“We remain confident in our long-term plan and I want to thank everyone across WPX for how they’ve adapted to today’s realities, kept the business running, integrated the attractive Felix assets and found numerous ways to help others in need."