Drilling & Completions | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Capital Markets | Capital Expenditure - 2020 | 2020 Guidance
WPX Talks 2020 Plans; Reports Q4 2019 Results
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WPX Energy has reported its Q4 2019 results as well as its 2020 outlook.
2020 PlansOn a pro-forma basis, WPX plans to invest $1,675-$1,800 million in total development capital this year, including $50-$75 million for midstream opportunities.
The 2020 capital budget supports 12 rigs in the Delaware Basin upon closing the Felix transaction. WPX also has three rigs deployed in the Williston Basin, with plans to drop a rig in the third quarter of 2020.
On a pro-forma basis, WPX expects total production to average 241-256 Mboe/d for 2020, including 155-165 Mbbl/d of oil.
More 2020 Details:WPX plans to implement a dividend after integrating the Felix assets, targeting approximately $0.10 per share on an annualized basis at initiation. The first payment is planned for third-quarter 2020.
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