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JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc.

WPX Energy, Inc. · Jul 14, 2015 · 21 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. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 1
    DRAFT: Wednesday, July 1 June, 2015 Transformational Delaware Transaction Rick Muncrief President & CEO, WPX Energy
  2. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 2
    Major Entry into the Core of the Delaware Basin Delaware Basin Map WHY NOW Accelerates portfolio transition Adds premier drilling inventory Delaware has emerged as a world-class stacked oil play Management team in place for…
  3. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 3
    Acquisition Overview Privately negotiated 2.75B acquisition of RKI Expected to close by the end of 3Q15 Funded with debt, equity, cash Target net debt/EBITDAX ratio of 2x by YE2017 Wolfcamp Acquisition value1 Bone Spring 1.1B…
  4. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 4
    Past Execution Set the Path for Transformational Transaction Proven Execution over Past Year Continued Execution Positioned Organization for Success Oil Growth 80 Realigned organization 60 Right-sized staffing level…
  5. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 5
    Combination Creates Long-Term Shareholder Value VALUE PEOPLE ASSETS Capacity to Accelerate Decades of Inventory Drilling Activity in the Delaware Basin Technology and Proven Permian Operator Marketing Expertise…
  6. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 6
    Delaware Basin: Target-Rich Opportunity Net Prospective Average Gross Risked Formation Assumed Spacing Acres Working Interest Locations Delaware Vertical Bell Canyon 65,000 90% - 40 Delaware Vertical Cherry Canyon 65,000 90% 170 40…
  7. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 7
    Operational Overview Clay Gaspar, Sr. VP Operations and Resource Development
  8. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 8
    Delaware Basin Operational Overview and Outlook Strong results today Production Growth Wolfcamp: 60 7.0MM D&C, 670 Mboe EUR 50 Annual Production (Mboe/d) 2nd Bone Spring: 5.5MM D&C, 550 Mboe EUR 40 Delaware Vertical: 30…
  9. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 9
    World-Class Hydrocarbon System BELL CANYON Hydrocarbon Pay Indication Delaware Mountain Group CHERRY CANYON 3,000+ of stacked conventional sands 200+ vertical Delaware wells across Stateline position de-risk the play Horizontal…
  10. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 10
    Strong Well Results Validate Core Position RKI RKI RKI Devon RKI Burton 4 IL Fed Com 1H (4,068 lat.) Helios 6 Federal Com 4H Pecos State 46-1H ([3,624 lat.) Tomb Raider Fed 1H Lindsay 10-8H IP(30): 1,293 Boe/d IP(30): 891 Boe/d IP(30):…
  11. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 11
    Infrastructure Capacity in Place for Rapid Development Produced water disposal system 174 miles of pipeline 200,000 barrels per day of water disposal capacity Current disposal: 90,000 bpd Fresh water transfer system 16 miles of…
  12. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 12
    Financial Outlook Kevin Vann, Chief Financial Officer
  13. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 13
    Transaction Financing Components Transaction Financing Components Financing Notes RKI existing debt will be refinanced Category MMs Contractual Equity 470 Committed financing in place to RKI Owners1 RKI Debt To Be Refinanced 400…
  14. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 14
    Targeting 2x Net Debt to EBITDAX by 2017 Several options to reduce leverage Significant, attractive midstream infrastructure in place across core basins Williston Van Hook gathering system San Juan oil, gas and water assets…
  15. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 15
    WPX Pro Forma Outlook Through 2017 WPX PRO FORMA OUTLOOK 100%+ oil growth 2015-2017 20151 2016 2017 Commodity Price Assumption Capital spending in line with Oil 55.00 62.50 70.00 EBITDAX in 2017 Natural Gas 3.00 3.50 3.75 Strong…
  16. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 16
    Premier Western Energy Producer PERMIAN BASIN Deep Inventory of High-Return Locations Decades of drillable locations Significant upside potential from downspacing and additional prospective horizons 670,000+ net prospective acres…
  17. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 17
    WPX is an Attractive Investment Opportunity Core Acreage WPX holds core acreage in each of its basins Decades of drilling inventory with 4,600 quality drillable Deep Oil Inventory locations in the Delaware, Williston and San Juan…
  18. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 18
    Appendix
  19. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 19
    Delaware Basin Capital, EUR, Type Curves Assumptions Capital/EUR Sensitivity Curve Wolfcamp A 900 Wolfcamp A 2nd Bone Spring Delaware Vert. Oil: 58% Oil: 51% Oil: 61% 850 Gas: 25% Gas: 26% Gas: 20% 800 Product Mix NGL: 17% NGL: 23%…
  20. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 20
    Reserves Summary WPX YE2014 RKI YE2014 COMBINED YE2014 Net Oil Net Gas Net NGL Net Boe Net Oil Net Gas Net NGL Net Boe Net Oil Net Gas Net NGL Net Boe (MMbbls) (Bcf) (MMbbls) (MMboe) (MMbbls) (Bcf) (MMbbls) (MMboe) (MMbbls) (Bcf)…
  21. JULY 2015 INVESTOR PRESENTATION – WPX Energy, Inc. – slide 21
    Pro Forma WPX Hedges Updated: July 8th, 2015 Jul - Dec 2015 2016 2017 Volume/Day Average Price Volume/Day Average Price Volume/Day Average Price Natural Gas (MMBtu) Fixed Price Swaps 435,929 4.05 302,132 3.83 - - Costless Collars…

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