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Year End 2018 Earnings Call – WPX Energy, Inc.

WPX Energy, Inc. · Feb 20, 2019 · 19 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. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 1
    RICK MUNCRIEF, CHAIRMAN & CEO FEBRUARY 21, 2019 N Y S E : W P X
  2. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 2
    2018: A Pivotal Year of Progress FOCUSED W I L L I S T O N PORTFOLIO Sold San Juan Gallup in 2018 to become a premier operator in the top two oil basins in the United States P E R M I A N BALANCE CORE MIDSTREAM SHEET…
  3. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 3
    Positioned for Sustainable Value Creation 2019 PLAN 50 WTI CASH FLOW NEUTRAL POSITIVE AT CURRENT COMMODITY PRICES POSITIONED TO RETURN CAPITAL TO SHAREHOLDERS IN 20211 SIGNIFICANT MIDSTREAM OPTIONALITY IN WPX…
  4. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 4
    OPERATIONS CLAY GASPAR, PRESIDENT & CHIEF OPERATING OFFICER
  5. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 5
    Delaware: Efficiencies Lowering Cost; Well Results Strong 400 CBR WELLS UPDATE 375 350 THIRD BONE SPRING 325 2-MILE LATERALS 300 30-DAY AVG: 3,039 BOE/D 275 CUMULATIVE MBOE WOLFCAMP A 250 2-MILE LATERALS 225 90-DAY AVG:…
  6. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 6
    Delaware Midstream Strategy Taking Hold MIDSTREAM STRATEGY DELIVERED 2018 55% SIGNIFICANT UPLIFT IN 4Q OF DELAWARE OIL VOLUMES 75 OIL RECEIVED INTERNATIONAL & GULF PRICING IN 2018 70 65 60 4Q18 55 PERMIAN 80% 50 OIL 45…
  7. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 7
    Williston: Strong, Consistent Performance RECENT PAD HIGHLIGHTS 2019 TYPE WELL PAYOUT1 LEAD WOMAN PAD 60-DAY PRODUCTION: 342,000 BARRELS OF OIL LEAD WOMAN 23-14HA 14 M O N T H S 60-DAY PRODUCTION: 2,643 BOE/D 250 LAWRENCE BULL…
  8. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 8
    FINANCIALS KEVIN VANN, CHIEF FINANCIAL OFFICER
  9. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 9
    4Q 2018 Results 4Q YTD 2018 2017 2018 2017 Average Daily Production Oil (Mbbl/d) 96.0 64.3 81.6 52.0 Gas (MMcf/d) 204.8 122.4 162.6 96.7 NGLs (Mbbl/d) 26.3 12.6 18.4 10.0 Equivalent (MBOE/d) 156.4 97.3 127.1 78.1 Adjusted…
  10. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 10
    Reduced 2019 Capital Plan; Maintaining Growth REDUCED CAPITAL BY 350+ MILLION GROWING OIL PRODUCTION FROM PREVIOUS GUIDANCE 5-10% 4Q18 TO 4Q19 C A P I T A L E X P E N D I T U R E S P R O D U C T I O N Development Capital Plan 1,100…
  11. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 11
    WPX: Disciplined Long-term Value Creation 4Q 2018 96.0 MBBL/D OIL PRODUCTION (MBBL/D)1 1 2 3 STRONG CREATING REMAINING 3Q 201581- OIL PRODUCTION (MBBL/D)1 23.5 MBBL/D EXECUTION OPPORTUNITIES DISCIPLINED IN BOTH…
  12. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 12
    APPENDIX
  13. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 13
    2019 Full-Year Guidance Capital Plan Production FY 2019 Avg. Price Differentials2 FY 2019 Oil Mbbl/d 96 100 Oil WTI per barrel (2.00) (3.00) Natural Gas MMcf/d 185 205 NYMEX Nat. Gas (Mcf) (1.25) (1.75) NGL Mbbl/d 22 27 Total MBOE/d…
  14. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 14
    WPX Hedges Updated: February 19, 2019 2019 2020 2021 Volume/Day Average Price Volume/Day Average Price Volume/Day Average Price Crude Oil (bbl) Fixed Price Swaps1 42,575 53.65 - - - - Fixed Price Calls 5,000 54.08 - - - - Fixed Price…
  15. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 15
    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 51.98 2.73 2.30 2.47 2.89 24.36 24.15 31.12 20.83 Price…
  16. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 16
    Consolidated Statement of Operations (GAAP) 2017 2018 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Revenues: Product revenues: Oil sales 159 194 218 308 879 360 468 503 459 1,790…
  17. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 17
    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 4th Qtr Year Reconciliation of…
  18. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 18
    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 4th Qtr Year Reconciliation of adjusted diluted…
  19. Year End 2018 Earnings Call – WPX Energy, Inc. – slide 19
    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 4th Qtr Year Reconciliation of Adjusted EBITDAX Net income (loss) -…

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