Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
WPX Sees Strong Williston Growth; Piceance Results Hit by Rig Cut
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WPX Energy has reported its unaudited operating and financial results for the fourth quarter and the year ended Dec. 31, 2013.
Operating achievements during the year include a 39 percent increase in Williston Basin oil production, 534 Bcfe of domestic reserves additions, early development of the company’s oil discovery in the San Juan Basin’s Gallup Sandstone and initial delineation drilling of the Niobrara natural gas discovery in the Piceance Basin.
WPX’s 2013 financial results reflect a 14 percent decrease in consolidated gathering, processing and transportation expense and 32 percent growth in oil revenues, offset by the impact of previously disclosed non-cash impairment charges of approximately $1.4 billion that primarily occurred in the fourth quarter.
Jim Bender, president and…
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