Barclays CEO Energy-Power Conference Rick Muncrief, President and CEO September 6th, 2016
Market Overview Oil Outlook Oil market in balance with continued moderate demand growth Gas Outlook Abundant supply in North America creates limited upside Geopolitical Global political risk remains high and extremely…
Strategic Transformation of WPX (MAY 2014 MAY 2016) (2012) (2012) (2016) (2016) BIAS FOR ACTION AND A TRACK RECORD OF EXECUTION 3
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…
Executing Strategy and Delivering Sustainable Long-Term Value OPERATIONAL FINANCIAL VALUE ACCELERATION Completing DUCs in the Williston Disciplined capital allocation process Oil CAGR 20% - 35% through 2020 Adding rigs 3,4 and 5 in…
San Juan Basin Overview 226,000 net acres Oil window: 96,000 acres1 WILLISTON BASIN Gas window: 130,000 acres 3,900 total gross locations2 Oil window: 4003 Gas window: 3,5002 Commodity mix4 Oil window Oil: 52% HEADQUARTERS…
San Juan Basin Delivering Strong Results SAN JUAN GALLUP HIGHLIGHTS WPX record 1.5-mile lateral 88 per ft. San Juan Gallup Wells Wells showing better performance 140 Longer laterals Well Azimuth Landing and steering 120 Larger…
Williston Basin Overview 85,000 net acres WILLISTON BASIN 575+ gross locations 510 operated locations 70 non-op locations Commodity mix1 85% oil 8% natural gas HEADQUARTERS SAN JUAN 7% NGLs BASIN TULSA, OK Available…
Williston- Wells Outperforming Type Curve, Getting Back to Work WILLISTON BASIN HIGHLIGHTS Recent results tracking above type curve Mandaree and Emma Owner Pads 450 No completions in 2Q16 400 Resumed completion of DUCS Average 3-4…
Permian Basin Overview 100,000+ net acres1 WILLISTON BASIN 5,500+ gross locations2 Commodity mix3 54% oil 29% natural gas 17% NGLs HEADQUARTERS SAN JUAN TULSA, OK Available sales outlets BASIN Holley Frontiers Artesia, NM…
Delaware- Continuing Operational and Technical Momentum DELAWARE BASIN HIGHLIGHTS Net resource potential increased 100%+ to 2.4 BBOE WOLFCAMP A WELLS1 200 Gross locations increased 50%+ to 5,500+ Adding 3rd rig in Oct, 4th rig in…
WPX Poised for Rapid Sustainable Growth ASSET QUALITY SUPPORTS RAPID OIL GROWTH ASSET QUALITY SUPPORTS RAPID EBITDAX GROWTH 160 100% 1,800 CAGR: 35% CAGR: 35% HIGH CASE HIGH CASE 90% 1,600 140 CAGR: 20% CAGR: 20% LOW CASE 80% LOW…
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…
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