Skip to main content 2Q 2017 Earnings Update – WPX Energy, Inc. Investor Presentation | Shale Experts
Loading...
Pm

2Q 2017 Earnings Update – WPX Energy, Inc.

WPX Energy, Inc. · Aug 3, 2017 · 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. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 1
    2Q 2017 Investor Update Rick Muncrief, Chairman and Chief Executive Officer August 3, 2017 1
  2. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 2
    WPX Continues to Execute OPERATIONAL TRANSACTIONAL Increasing 2017 annual oil growth Announced JV agreement which guidance from 30% to 40% includes upfront cash and capital carry 3rd Bone Spring well 30-day average Signed Delaware…
  3. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 3
    WPX Positioned for Success in 2017 and Beyond STRATEGIC ACTIONS TAKEN: 2.5x High-graded portfolio BELOW Locked-in strong hedge position NET DEBT/EBITDAX BY YE 2018 Maintained solid liquidity Service cost agreements in place…
  4. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 4
    Operational Update Clay Gaspar, Chief Operating Officer
  5. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 5
    Staying Ahead in Securing Infrastructure in the Delaware GATHERING REGIONAL END MARKET OIL CRUDE GATHERING SYSTEM SIGNED CRUDE TAKEAWAY SIGNED AGREEMENT TO AGREEMENT WITH ORYX WITH GULF COAST OWNERSHIP STAKE GAS GAS…
  6. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 6
    Wolfcamp A: Shut-In Test Confirms 15 Wells Per DSU RESULTS FROM TEST: WHY ITS IMPORTANT: Minimal communication of offset Validates 330 spacing in Stateline wells after 15H well shut-in Upper/Lower Wolfcamp A TESTING 15 WELLS PER…
  7. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 7
    Continued Operational Progress and Delineation in the Delaware TESTED 4,000 LBS/FT EASTERN DRILLED 1st THIRD COMPLETION IN WOLFCAMP A BONE SPRING WELL WOLFCAMP D WELL RESULTS 1-mile Lindsay 9-6H 1-mile East Pecos 22-9H 1-mile…
  8. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 8
    Williston: New Completion Designs Drive Encouraging Results 2017 AVERAGE WELL PERFORMANCE BY PAD Recent Completion Designs Behr (3) Caribou (3) Grizzly (3) 200 Beaks (3) Wolf Chief (2) Etstatis (6) Lucy Evans (3) 850 Type Curve…
  9. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 9
    Back to Work in the San Juan 100 OIL PRODUCTION ADJUSTED FOR LATERAL LENGTH (7,500) 90 80 RIO ARRIBA SAN JUAN 70 CUM OIL MBBLS 60 50 40 SANDOVAL 30 20 10 0 0 20 40 60 DAYS ON PRODUCTION 80 100 120 WEST LYBROOK…
  10. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 10
    Financial Update Kevin Vann, Chief Financial Officer
  11. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 11
    2Dollars nd Quarter in millions, exceptResults production numbers 2Q YTD 2017 2016 2017 2016 Average Daily Production Oil (Mbbl/d) 58.6 40.9 52.4 41.2 Gas (MMcf/d) 203 206 199 196 NGLs (Mbbl/d) 13.8 10 12.5 8.9 Equivalent…
  12. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 12
    Updated 2017 Full-Year Guidance Production FY 2017 Expenses FY 2017 Oil Mbbl/d Natural Gas MMcf/d 57.0 60.0 205 220 per BOE LOE 4.75 5.25 OIL PRODUCTION NGL Mbbl/d 14.0 19.0 GP&T 2.00 2.50 FULL YEAR OIL GROWTH Total MBOE/d 105…
  13. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 13
    Industry Leading Hedge Book in 2018 Hedge Position Creates Surety for 2018 Development Plan PEER AVG. PRICE HEDGED: 51.64 PEER AVG. % OF OIL PRODUCTION HEDGED: 23% 80% 70% WPX ENERGY 68% OF PRODUCTION PE HEDGED 52.69 60% % of…
  14. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 14
    WPX Hedges Updated: August 2, 2017 Jul Dec 2017 2018 2019 Volume/Day Average Price Volume/Day Average Price Volume/Day Average Price Crude Oil (bbl) Fixed Price Swaps 50,750 50.26 55,500 52.69 17,000 50.95 Fixed Price Calls 4,500…
  15. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 15
    Domestic Price Realization for 2017 Oil (/bbl) Gas (/Mcf) NGL (/bbl) 1Q 17 2Q17 3Q17 4Q 17 1Q 17 2Q17 3Q17 4Q 17 1Q 17 2Q17 3Q17 4Q 17 Weighted-Average Sales Price 46.38 43.60 3.01 2.65 22.14 18.98 1 Revenue Adjustments (1.07)…
  16. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 16
    WPX Liquidity, Hedges and Debt Maturities STRONG LIQUIDITY STRONG HEDGE POSITION Liquidity 100% CREATES CERTAINTY FOR DRILLING3.93 PROGRAM % of Production Hedged 80% Cash and Equivalents (6/30/2017) 8 60% 50.26 3.02 Revolver…
  17. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 17
    Consolidated Statement of Operations (GAAP) 2016 2017 (Dollars in millions) 1Q 2Q 3Q 4Q YTD 1Q 2Q 3Q 4Q YTD Revenues: Product revenues: Oil sales 97 142 139 173 551 188 226 414 Natural gas sales 25 24 37 39 125 44 40 84 Natural…
  18. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 18
    Reconciliation-Adjusted Income (Loss) from Continuing Operations (Non-GAAP) 2016 2017 (Dollars in millions, except per share amounts) 1Q 2Q 3Q 4Q YTD 1Q 2Q 3Q 4Q YTD Income (loss) from continuing operations available to WPX Energy,…
  19. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 19
    Reconciliation Adjusted Diluted Loss Per Common Share 2016 2017 (Dollars in millions) 1Q 2Q 3Q 4Q YTD 1Q 2Q 3Q 4Q YTD Reconciliation of adjusted diluted loss per common share: Income (loss) from continuing operations - diluted…
  20. 2Q 2017 Earnings Update – WPX Energy, Inc. – slide 20
    Reconciliation EBITDAX (Non-GAAP) 2016 2017 (Dollars in millions) 1Q 2Q 3Q 4Q YTD 1Q 2Q 3Q 4Q YTD Reconciliation of Adjusted EBITDAX Net income (loss) - reported Net income (loss) (12) (198) (219) (172) (601) 92 76 168 Interest…

From the store

Browse maps, data & reports in the Shale Experts store