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IPAA OGIS NEW YORK – WPX Energy, Inc.

WPX Energy, Inc. · Apr 20, 2015 · 13 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 1
    April 20, 2015 2015 IPAA OGIS NEW YORK Clay Gaspar Sr. Vice President of Operations and Resource Development
  2. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 2
    Building the Premier Western Energy Producer Operational Scale and Financial Flexibility 16.5 Tcfe 3P reserves High-Quality Rocks YE14 Received 600MM in cash proceeds in 1Q151 Commodity and geographic diversity Established…
  3. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 3
    Highlights Strong oil growth Domestic oil production of 32.3 Mbbl/d, which grew 25% 4Q 14 vs. 3Q 14 Normalized oil production grew 71% quarter over quarter San Juan Gallup 395% oil production Y/Y 66% increase in CFFO 2014 vs. 2013…
  4. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 4
    2014 Highlights 2012-14 Production (oil focused areas) Cash Margin per BOE 30 16 25 14 12 20 10 Mboe/d /boe 15 8 10 6 4 5 2 - 0 2012 2013 2014 2012 2013 2014 Williston San Juan Record oil production of 25.3 Mbo/d…
  5. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 5
    1st Quarter 2015 Trend Exceeding Expectations WELL COST CAPITAL Williston well cost Shifting capital below 9MM from the Piceance Mancos/Niobrara San Juan Gallup well program to San Juan cost approaching Gallup 4MM 1Q…
  6. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 6
    Williston Contiguous Acreage Position in Core of Play Strong production growth in 2014 Averaged 27 Mboe/d in 4Q 14 Mboe/d up 59% 4Q 14 vs. 4Q 13 2014 activity Completed 53 gross operated wells Average spud-to-rig release time…
  7. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 7
    San Juan Basin Leader in Efficiency and Resource Assessment Execution drives strong production growth Gallup averaged 10.6 Mboe/d in 4Q 14 Oil production up 388% 4Q 14 vs. 4Q 13 2014 activity Completed 47 gross wells averaging 2.25…
  8. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 8
    San Juan Gallup Improving Cycle Times Driving Growth 2013 Wells 100% improvement 2015 Wells in avg. wells drilled per year per rig Compare 30-Day Spud-to-Spud vs. 14-Day Spud-to-Spud MBO/Day vs. Months 14.0 12.0 Production…
  9. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 9
    Williston and San Juan Gallup Quarterly Production (2012-14) 40 35 30 25 MBOE/D 20 15 10 5 0 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 San Juan Gallup…
  10. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 10
    Piceance Proven Low-Cost Operator with Large Resource Base 1 gas producer in Colorado Multi-decade inventory Lowest-cost operator Unbooked resource potential Niobrara/Mancos 2014 activity Increased focus in Ryan Gulch Reduced…
  11. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 11
    Hedging Overview As of 4/13/2015 Apr - Dec 2015 2016 Volume/Day Average Price Volume/Day Average Price Natural Gas (MMBtu) Fixed Price Swaps1 410,000 4.05 280,000 3.81 Costless Collars 50,000 4.00 - 4.50 - - Natural Gas Basis…
  12. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 12
    Takeaway Optionality to Premier Markets Brent/ANS Bakken Clearbrook Brent/ANS Brent Guernsey San Juan WTI RAIL PIPE LLS 2016-17 PIPE ADDS Bakken San Juan Optionality in all directions for crude sales depending on…
  13. IPAA OGIS NEW YORK – WPX Energy, Inc. – slide 13
    Positioned for Success in 2015 and Beyond Execution Focus Discipline Opportunistic 2015 IPAA OGIS New York WPX Energy, Inc. April 20, 2015 13

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