EnerCom- The Oil & Gas Conference Clay Gaspar, Chief Operating Officer August 16, 2016
WPX Highlights 2Q ACTION ITEMS WILLISTON COMPLETED 538MM EQUITY OFFERING BASIN ACQUIRED 7,800 NET ACRES IN DELAWARE BASIN, CLOSED JULY REPURCHASED 179MM OF THE 2017 NOTES1 CLOSED SALE OF THE PICEANCE BASIN SUBSIDIARY…
WPX Liquidity, Hedges and Debt Maturities STRONG LIQUIDITY STRONG HEDGE POSITION 100% Pro-Forma Liquidity2 % of Production Hedged 3.93 80% Cash and Equivalents (6/30/16) 1,031 60.16 60% Undrawn Revolver 1,025 40% Transport…
Delaware Continuing Operational and Technical Momentum DELAWARE BASIN HIGHLIGHTS WOLFCAMP A WELLS2 Adding 3rd rig in October 140 Wolfcamp D and X/Y wells scheduled Testing larger completions and tighter cluster spacing 120 On…
WPXs Opportunity in the Delaware Grows Significantly TECHNICAL ACQUIRED AUGUST 2015 TOTAL AUGUST 2016 ADDITIONS LOCATIONS Gross Gross Gross Gross Formation Assumed Spacing Locations Locations Locations Locations Delaware Vertical…
Williston Wells Outperforming Type Curve, Getting Back to Work WILLISTON BASIN HIGHLIGHTS 240 Mandaree and Emma Owner Pads Recent results tracking above type curve No completions in 2Q16 210 Start completing DUCs in August 180…
San Juan Continues to Achieve Efficiencies SAN JUAN GALLUP HIGHLIGHTS WPX record 1.5-mile lateral 88 per ft REDUCING DRILLING COSTS 140 LOE down 23%1 124 120 114 112 Reducing costs by self-sourcing sand 106 98 100 88 88 Direct…
Foundation in Place for Enhancing and Accelerating Value DELAWARE BASIN WILLISTON BASIN SAN JUAN BASIN 100,000+ net acres 85,000 net acres 225,000+ net acres 5,500+ gross locations1 575+ gross locations 3,900 gross locations1…