Skip to main content Q1 2016 Earnings Call – WPX Energy, Inc. Investor Presentation | Shale Experts
Loading...
Database
Slide Database

Q1 2016 Earnings Call – WPX Energy, Inc.

WPX Energy, Inc. · May 4, 2016 · 23 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. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 1
    1st Quarter 2016 Earnings Call Rick Muncrief, President and CEO May 5, 2016
  2. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 2
    Recent Highlights CLOSED SAN JUAN MIDSTREAM SALE 1.2B IN COMPLETED ASSETS SALES CLOSED PICEANCE SALE 2016 AMENDED CREDIT FACILITY FLEXIBLE CAPITAL PROGRAM REPURCHASED 185MM of 2017 DEBT MATURITY 80% OIL PRODUCTION HEDGED IN…
  3. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 3
    WEST PEAK GUADALUPE CULBERSON COUNTY REEEVES COUNTY DELAWARE BASIN REEEVES COUNTY LOVING COUNTY 2 5 , 0 0 0 F T. WPX SANDS DELAWARE WOLFCAMP BONE SPRING LOVING COUNTY Map sourced from the West Texas…
  4. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 4
    Wolfcamp A: Wells Trending Near Vision WOLFCAMP A WELLS LESS THAN 30 DAYS 300 250 GEN 1 200 Cumulative MBOE GEN 2 150 GEN 3 100 BASIN HIGHLIGHTS LESS THAN 50 30 DAYS Completing generation 4 wells and…
  5. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 5
    Wolfcamp A: Highly Economic at Todays Commodity Price PRICE SENSITIVITY CURVE CAPITAL/EUR SENSITIVITY CURVE 130% 1,300 VISION: 5.0MM WELL COST- 1,000 MBOE 3-Year AVG Price2 120% CURRENT: 5.3MM WELL COST- 900 MBOE 49.01 Oil and 2.87…
  6. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 6
    Potential for Increasing EURs and Locations vs. Acquisition Assumption TOP WOLFCAMP X/Y WOLFCAMP X/Y X/Y PROVEN 750 MBOE PRODUCTIVE IN WPXS AVERAGE EUR FOR STATELINE ACREAGE WELLS WITH 2 YEARS OF PRODCUTION1 TOP WOLFCAMP A…
  7. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 7
    Williston: Results Validate Type Curve Increase Mandaree and Emma Owner Pad 300 LESS THAN 30 DAYS 250 200 Cumulative MBOE 150 BASIN HIGHLIGHTS 100 LESS THAN Increasing type curve to 850 MBOE EUR 30 DAYS 50…
  8. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 8
    Williston: Highly Economic at Todays Commodity Price PRICE SENSITIVITY CURVE CAPITAL/EUR SENSITIVITY CURVE 150% 1,000 VISION: 5.5MM WELL COST- 850 MBOE 140% 3-Year AVG Price2 CURRENT: 5.9MM WELL COST- 850 MBOE 130% 2016 GUIDANCE:…
  9. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 9
    WPX Demonstrating Operational Excellence DOING MORE FOR LESS GETTING MORE FOR LESS PERMIAN COST PER LATERAL FOOT PERMIAN COST PER BARREL OF OIL (120 DAY CUM) EARLY WPX 130 1,600 WPX B D EARLY WPX 4Q15 120 CBR Cost per Lateral…
  10. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 10
    San Juan Gallup: Organic Growth and Value Creation Mancos Gallup Well Performance LESSTHAN LESS THAN3030DAYS DAYS 180 160 140 120 Cumulative MBOE 100 80 60 BASIN HIGHLIGHTS 40 LESS THAN 30 DAYS Current total…
  11. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 11
    1st Quarter Results 1Q Dollars in millions, except production numbers 2016 2015 Average Daily Production Oil (Mbbl/d) 41.5 33.0 Gas (MMcf/d) 185 176 NGLs (Mbbl/d) 7.8 4.2 Equivalent (MBOE/d) 80.1 66.6 Adjusted EBITDAX 131…
  12. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 12
    WPX Liquidity, Hedges and Debt Maturities STRONG HEDGE POSITION Total Liquidity (as of 5/3/2016) 100% % of Production Hedged 3.93 80% Cash and Equivalents 583 60.35 60% Available Revolver Capacity 1,025 40% Total Liquidity…
  13. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 13
    2016 Full-Year Guidance (Excludes Piceance) Production FY16 Expenses FY16 ASSUMPTIONS Oil Mbbl/d 37.0 - 39.0 per BOE 40.00 WTI Natural Gas MMcf/d 175 - 185 LOE 5.75 - 6.25 2.00 NYMEX NGL Mbbl/d 9.0 - 10.0 GP&T 2.75 - 3.25 Total…
  14. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 14
    WPX Hedges Updated: April 29, 2016 2Q 4Q 2016 2017 Volume/Day Average Price Volume/Day Average Price Crude Oil (bbl) Fixed Price Swaps 30,438 60.35 22,804 50.71 Crude Oil Basis (bbl) Midland Basis Swaps 5,000 (0.45) - - Natural Gas…
  15. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 15
    Delaware Overview 94,000 net acres1 Currently operating 2 rigs 3,600 gross risked locations Commodity mix2 54% oil 29% natural gas 17% NGLs Available sales outlets Holley Frontiers Artesia, NM Refinery Westerns El Paso…
  16. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 16
    Overview of WPXs World-Class Delaware Position BELL CANYON 94,000 TOTAL NET WOLFCAMP CHERRY CANYON ACRES1, 60,000 NET ACRES NEAR STATELINE BRUSHY CANYON 12 PROSPECTIVE ZONES AVALON WITH 3,600++ GROSS LOCATIONS DELAWARE…
  17. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 17
    Wolfcamp X/Y Present in Stateline Acreage 5 EDDY ANDREWS 6 LEA 7 WOLFCAMP X/Y LOCATIONS 6 Mo EUR Well Name LL /ft Oil % CUM MBOE 1 JOHNSON 44-02S-B53 WF 204H 165.7 4,621 2,033 875 68% LOVING 9 WINKLER 2 DOROTHY WHITE…
  18. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 18
    Type Curve Assumptions: San Juan Gallup, Williston, and Wolfcamp A Type Curve: Wolfcamp A Type Curve: San Juan Gallup Type Curve: Williston 1,400 700 1,200 800 2,500 1,250 1,200 600 700 1,000 2,000 1,000 600 1,000 500 800…
  19. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 19
    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…
  20. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 20
    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…
  21. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 21
    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 mix4 Oil window Oil:…
  22. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 22
    Reconciliation-Adjusted Income (Loss) from Continuing Operations (Unaudited) 2015 2016 (Dollars in millions, except per share amounts) 1Q 2Q 3Q 4Q YTD 1Q 2Q 3Q 4Q YTD Income (loss) from continuing operations attributable to WPX Energy,…
  23. Q1 2016 Earnings Call – WPX Energy, Inc. – slide 23
    Reconciliation EBITDAX (Unaudited) 2015 2016 (Dollars in millions) 1Q 2Q 3Q 4Q YTD 1Q 2Q 3Q 4Q YTD Adjusted EBITDAX Reconciliation to net income (loss): Net income (loss) 68 (30) (230) (1,534) (1,726) (12) (12) Interest expense…

From the store

Browse maps, data & reports in the Shale Experts store