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Scotia Howard Weil Energy Conference – WPX Energy, Inc.

WPX Energy, Inc. · Mar 21, 2016 · 20 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. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 1
    Scotia Howard Weil Energy Conference Rick Muncrief, President and CEO March 21-22, 2016
  2. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 2
    Premier Asset Portfolio Coming Into Focus Scotia Howard Weil Energy Conference- March 21-22, 2016 2
  3. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 3
    WPX Profile: World-Class Delaware Position WPX TODAY World-Class Delaware acreage WILLISTON BASIN Core Williston basin position Leading San Juan acreage HEADQUARTERS SAN JUAN TULSA, OK Multi-decade inventory BASIN…
  4. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 4
    2016 Outlook Focused on Fewer Basins D & C C A P I TA L DELAWARE RECEIVING OVER 50% OF CAPEX…
  5. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 5
    WPX Pro-Forma Liquidity, Hedges and Debt Maturities STRONG HEDGE POSITION Pro-Forma Liquidity 100% % of Production Hedged 3.79 80% 60.85 Cash and Equivalents1 41 60% Senior Notes Due 20171 (304) 40% Revolver Balance 1 (355) 20%…
  6. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 6
    Cost Continue to Trend Lower 9% 13% 4.00 REDUCTION IN 5.40 REDUCTION IN 3.90 3.92 LOE PER BOE 5.20 5.28 GP&T PER BOE per BOE per BOE 3.80 5.00 3.70 4.80 3.60 4.60 3.50 3.58 4.59 3.40 4.40 3.30 4.20 YTD2014 FY…
  7. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 7
    Overview of WPXs World-Class Delaware Position BELL CANYON 94,000 TOTAL NET ACRES1, 60,000 NET WOLFCAMP CHERRY CANYON ACRES NEAR STATELINE BRUSHY CANYON 12 PROSPECTIVE AVALON ZONES WITH 3,600++ GROSS LOCATIONS DELAWARE…
  8. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 8
    Delaware: Operational and Technical Momentum 200 BASIN HIGHLIGHTS 180 Wolfcamp A exceeding acquisition assumptions 160 Up to 6 two-mile Wolfcamp A laterals in 2016 140 Completion design changes 120 Reduced cost switching to…
  9. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 9
    Rapid Progress in the Wolfcamp A and Just Getting Started D&C1,2 EURS F&D Cost 43% 85% 69% 10 REDUCTION 1200 INCREASE 20.00 REDUCTION 8 1000 15.00 800 6 600 10.00 4 400 2 5.00 200 0 0 - RKI WPX Vision RKI WPX Vision RKI WPX…
  10. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 10
    Permian: Well and Economic Projections Wolfcamp A Type Well Price Sensitivity Curve Capital/EUR Sensitivity Curve 100% 1,250 90% Vision: 5.0MM D&C - 1,000 Mboe Current: 6.0MM D&C - 850 Mboe 1,150 80% 70% 1,050 B-tax ROR EUR,…
  11. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 11
    Strong Results in Williston and San Juan Gallup 250 WILLISTON BASIN HIGHLIGHTS 200 Wells trending above type curve Cumulative MBOE 150 Complete 6 well pad mid-March Defer remaining completions 100 17-29 DUCS at year-end…
  12. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 12
    Execution Core to WPX COMPLETED PORTFOLIO REBALANCED IN CORE BASINS 1.0B OF DIVESTITURES IN 2015 RAPID EXECUTION CREATES STRONG LIQUIDITY CONTINUED OPERATIONAL MOMENTUM 1.2B IN CASH PROCEEDS EXPECTED 1H2016 IMPROVING COST…
  13. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 13
    WPX Hedges Updated: March 16, 2016 Q1 2016 Q2 Q4 2016 2017 Volume/Day Average Price Volume/Day Average Price Volume/Day Average Price Crude Oil (bbl) Fixed Price Swaps 30,024 61.08 29,166 60.77 22,804 50.71 Crude Oil Basis (bbl)…
  14. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 14
    Type Curve Assumptions: San Juan Gallup and Williston Type Curve: San Juan Gallup Type Curve: Williston 1400 800 1,200 600 1200 700 1,000 500 600 1000 Cum MBOE Cum MBOE 800 400 MBOE/D MBOE/D 500 800 400 600…
  15. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 15
    Permian Overview 94,000 net acres1 Currently operating 3 rigs 3,600 gross risked locations Commodity mix2 55% oil 28% natural gas 17% NGLs Available sales outlets Holley Frontiers Artesia, NM Refinery Westerns El Paso…
  16. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 16
    Williston Overview 85,000 net acres Currently operating 1 rig 575+ gross drilling locations 510 operated drilling locations 70 non-op locations Commodity mix1 85% oil 8% natural gas 7% NGLs Available sales outlets…
  17. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 17
    San Juan Overview 226,000 net acres Oil window: 96,000 acres1 Gas window: 130,000 acres Currently operating 1 rig 3,900 total gross drilling locations2 Oil window: 4003 Gas window: 3,5002 DRY GAS Commodity mix Oil window Oil:…
  18. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 18
    Domestic Price Realization for 2015 Oil (/bbl) Gas (/Mcf) NGL (/bbl) 1Q 15 2Q 15 3Q 15 4Q 15 1Q 15 2Q 15 3Q 15 4Q 15 1Q 15 2Q 15 3Q 15 4Q 15 Weighted-Average Sales Price 38.34 49.64 40.10 35.41 2.90 2.40 2.69 2.25 22.74 20.40 17.87…
  19. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 19
    2015 Production by Basin First Quarter Second Quarter Third Quarter Fourth Quarter Year to Date Oil Gas NGL Total Oil Gas NGL Total Oil Gas NGL Total Oil Gas NGL Total Oil Gas NGL Total MBbls Mmcf MBbls MBOE MBbls Mmcf MBbls MBOE MBbls…
  20. Scotia Howard Weil Energy Conference – WPX Energy, Inc. – slide 20
    Permian: Infrastructure Capacity in Place for Rapid Development Water gathering system 174 miles of pipeline 200,000 barrels per day of capacity Current utilization: 90,000 bpd Fresh water transfer system 16 miles of pipeline…

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