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3Q 2018 Earnings – WPX Energy, Inc.

WPX Energy, Inc. · Nov 1, 2018 · 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. 3Q 2018 Earnings – WPX Energy, Inc. – slide 1
    THIRD-QUARTER EARNINGS CALL NOVEMBER 1, 2018
  2. 3Q 2018 Earnings – WPX Energy, Inc. – slide 2
    3Q Highlights DELIVERING RESULTS OIL STRONG OIL PRICE REALIZATIONS Delaware average realized price: 98% of WTI1 3rd BONE SPRING COMPARABLE TO WCA Increases tier 1 inventory in Delaware PECOS STATE PROJECT UNDERWAY…
  3. 3Q 2018 Earnings – WPX Energy, Inc. – slide 3
    WPX vs. S&P 500 Comparison WPX GROWTH POTENTIAL CASH FLOW PER SHARE GROWTH VS. S&P 500 ( C A G R 2 0 1 8 E S T . - 2 0 2 0 E S T . ) 1,2 45% 40% WPX delivering 40%+ cash flow per share 35% growth which is over 3X 30% the S&P…
  4. 3Q 2018 Earnings – WPX Energy, Inc. – slide 4
    Operational Update Clay Gaspar, President & Chief Operating Officer
  5. 3Q 2018 Earnings – WPX Energy, Inc. – slide 5
    Real-Time Analytics Driving Well Design PECOS STATE MONI TORING PROJECT 39-2H D-4H A-1H B-2H PILOT/MONITOR WELL WELL LAYOUT PECOS 39 PECOS 39 PILOT 1 PILOT 1 Contiguous 806 core running from 3rd Bone 39-1H…
  6. 3Q 2018 Earnings – WPX Energy, Inc. – slide 6
    Building Operational Momentum in Stateline THIRD BONE SPRING UPDATE 300 3 rd B S W E L L R E S U L T S CBR 11-2 1H 250 2-MILE LATERAL Lindsay 9-6H (1-Mile Lateral) 60-DAY AVG: 2,955 BOE/D (52% OIL) 200 CBR 9-4-13H CUMULATIVE…
  7. 3Q 2018 Earnings – WPX Energy, Inc. – slide 7
    Strong Williston Results Across Acreage Position OPERATIONAL EXCELLENCE 200 3Q WELL RESULTS BEHR PAD (3 WELLS) 90-DAY PAD AVG: 1,637 BOE/D 24-HR IP: 3,585 BOE/D (BEHR 19-18HUL) 180 OTTER WOMAN (5 WELLS) 60-DAY PAD AVG: 1,626 BOE/D…
  8. 3Q 2018 Earnings – WPX Energy, Inc. – slide 8
    Financial Update Kevin Vann, Chief Financial Officer
  9. 3Q 2018 Earnings – WPX Energy, Inc. – slide 9
    3Q 2018 Results 3Q YTD 2018 2017 2018 2017 Average Daily Production Oil (Mbbl/d) 83.4 54.1 76.7 47.8 Gas (MMcf/d) 160 86 148 88 NGLs (Mbbl/d) 13.7 9.0 15.8 9.1 Equivalent (MBOE/d) 123.8 77.5 117.2 71.6 Adjusted EBITDAX 288…
  10. 3Q 2018 Earnings – WPX Energy, Inc. – slide 10
    2019 Capital and Production Guidance CAPITAL ( IN MILLIONS) FY 2019 CAPITAL PLAN OUTLOOK D&C / Facilities Capital 1,350 1,450 Base capital plan assumes- flat rig count (10), non-op D&C Non-Operated 50 100 and midstream capital Midstream…
  11. 3Q 2018 Earnings – WPX Energy, Inc. – slide 11
    Positioned for Long-term Value Creation 3Q 2018 83.4 MBBL/D OIL PRODUCTION (MBBL/D)1 3Q 2015 23.5 MBBL/D 1 2 3 STRONG CREATING REMAINING 81- OIL PRODUCTION (MBBL/D)1 EXECUTION OPPORTUNITIES DISCIPLINED IN BOTH…
  12. 3Q 2018 Earnings – WPX Energy, Inc. – slide 12
    Appendix
  13. 3Q 2018 Earnings – WPX Energy, Inc. – slide 13
    2019 Full-Year Guidance Base Capital Plan Production FY 2019 Avg. Price Differentials1 FY 2019 Oil Mbbl/d 100 105 Oil WTI per barrel (2.50) (3.50) Natural Gas MMcf/d 205 215 NYMEX Nat. Gas (Mcf) (1.25) (1.50) NGL Mbbl/d 25 30 Total…
  14. 3Q 2018 Earnings – WPX Energy, Inc. – slide 14
    2018 Full-Year Guidance1 Production FY 2018 Avg. Price Differentials5 FY 2018 Oil Mbbl/d 79 82 Oil WTI per barrel (3.50) (4.50) Natural Gas MMcf/d 150 160 NYMEX Nat. Gas (Mcf) (1.25) (1.50) NGL Mbbl/d 19 21 Total MBOE/d 123 130 Net…
  15. 3Q 2018 Earnings – WPX Energy, Inc. – slide 15
    Premier Permian Midstream Portfolio MIDSTREAM PORTFOLIO PROVIDES MONETIZATION OPTIONALITY STATELINE JV crude gathering: 125,000 bbl/d gas processing: first 200 mmcf/d train complete STATELINE JV OIL GATHERING & GAS…
  16. 3Q 2018 Earnings – WPX Energy, Inc. – slide 16
    Debt Overview No maturity until 2022 1.5B revolver, maturing in 2023 Reduced debt 421M since YE17 Current Senior Debt Maturities 1,500 1,250 1,000 (M) 750 650 529 500 500 500 5.25% 6.00% 250 8.25% 5.75% 0…
  17. 3Q 2018 Earnings – WPX Energy, Inc. – slide 17
    WPX Asset Overview DELAWARE BASIN WILLISTON BASIN 131,000 net acres1 85,000 net acres1 6,600+ gross locations2,3 465 gross locations3 52% oil/18% NGLS/30% gas4 86% oil/7% NGLS/7% gas4 CHAVES WILLIAMS MOUNTRAIL LEA…
  18. 3Q 2018 Earnings – WPX Energy, Inc. – slide 18
    Domestic Price Realization for 2018 Oil (/bbl) Gas (/Mcf) NGL (/bbl) 1Q 18 2Q18 3Q18 4Q 18 1Q 18 2Q18 3Q18 4Q 18 1Q 18 2Q18 3Q18 4Q 18 Weighted-Average Sales 61.21 64.04 65.68 2.73 2.30 2.47 24.36 24.15 31.12 Price Revenue…
  19. 3Q 2018 Earnings – WPX Energy, Inc. – slide 19
    WPX Hedges Updated: October 26, 2018 Oct - Dec 2018 2019 2020 Volume/Day Average Price Volume/Day Average Price Volume/Day Average Price Crude Oil (bbl) Fixed Price Swaps1 57,500 52.82 38,000 53.49 - - Fixed Price Calls 13,000 58.89…
  20. 3Q 2018 Earnings – WPX Energy, Inc. – slide 20
    Consolidated Statement of Operations (GAAP) 2017 2018 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr YTD Revenues: Product revenues: Oil sales 159 194 218 308 879 360 468 503 1,331 Natural gas…
  21. 3Q 2018 Earnings – WPX Energy, Inc. – slide 21
    Reconciliation-Adjusted Income (Loss) from Continuing Operations (Non-GAAP) 2017 2018 (Dollars in millions, except per share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr YTD Reconciliation of adjusted…
  22. 3Q 2018 Earnings – WPX Energy, Inc. – slide 22
    Reconciliation Adjusted Diluted Income (Loss) Per Common Share 2017 2018 (Dollars in millions, except per share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr YTD Reconciliation of adjusted diluted income…
  23. 3Q 2018 Earnings – WPX Energy, Inc. – slide 23
    Reconciliation Adjusted EBITDAX (Non-GAAP) 2017 2018 (Dollars in millions, except per share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr YTD Reconciliation of Adjusted EBITDAX Net income (loss) - reported 92…

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