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1Q 2019 Earnings Presentation – WPX Energy, Inc.

WPX Energy, Inc. · May 2, 2019 · 18 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. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 1
    RICK MUNCRIEF, CHAIRMAN & CEO MAY 2, 2019
  2. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 2
    WPX: Strong 2019 Coming into Focus CAPITAL DISCIPLINE Development capital range firm in 20191 TECHNICAL INNOVATOR Cutting edge technical work paying dividends WELL-POSITIONED IN 2019 WPX Expected to generate more than 100MM…
  3. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 3
    OPERATIONS CLAY GASPAR, PRESIDENT & CHIEF OPERATING OFFICER
  4. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 4
    Delaware: Co-Development, Efficiencies and Cost Savings DRILLING 27% AVERAGE DAYS FROM SPUD 35 300 30 CBR 41-44 PAD STATELINE UPPER/LOWER WOLFCAMP A & XY (2-MILE LATERAL) 275 25 20 REDUCTION IN DAYS SPUD TO RIG…
  5. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 5
    Delaware Midstream Strategy Driving Value MIDSTREAM STRATEGY DELIVERED SIGNIFICANT UPLIFT IN 1Q 60 4.0 58 1Q19 3.5 56 PERMIAN OIL 54 16.4MM UPLIFT 3.0 52 2.5 50 1Q19 2.0 48 PERMIAN GAS 1.5 46 27MM UPLIFT 1.0 44 42 0.5 Jan-19…
  6. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 6
    Williston: Continual Year-Over-Year Improvement 325 300 275 250 CUMULATIVE OIL (MBBLS) 225 200 175 150 125 100 75 50 25 0 0 30 60 90 120 150 180 210 240 270 300 330 360 NORMALIZED DAYS ON PRODUCTION…
  7. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 7
    FINANCIALS KEVIN VANN, CHIEF FINANCIAL OFFICER
  8. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 8
    1Q 2019 Results 1Q 2019 2018 Average Daily Production Oil (Mbbl/d) Gas (MMcf/d) 96.1 202.3 65.8 132.3 46% GROWTH IN OIL VOLUMES NGLs (Mbbl/d) 25.4 14.9 1Q19 vs. 1Q18 Equivalent (MBOE/d) 155.2 102.7 Adjusted EBITDAX 312…
  9. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 9
    Shareholder Focus Driving Value 2019 ALIGNED WITH FOCUS SHAREHOLDERS CASH FLOW POSITIVE CAPITAL DISCIPLINE Generating free cash 50% of compensation metrics flow at current focused on spending within commodity prices budget,…
  10. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 10
    Positioned for Sustainable Value Creation OUR PORTFOLIO PERMIAN - WILLISTON - MIDSTREAM OUR DRIVE STRONG EXECUTION - CREATE OPPORTUNITIES - REMAIN DISCIPLINED OUR FOCUS FINANCIAL DISCIPLINE - OIL GROWTH - VALUE…
  11. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 11
    APPENDIX
  12. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 12
    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…
  13. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 13
    WPX Hedges Updated: April 30, 2019 Apr Dec 2019 2020 2021 Volume/Day Average Price Volume/Day Average Price Volume/Day Average Price Crude Oil (bbl) Fixed Price Swaps1 53,000 54.62 20,000 59.03 - - Fixed Price Calls 5,000 54.08 - - -…
  14. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 14
    Domestic Price Realization for 2019 Oil (/bbl) Gas (/Mcf) NGL (/bbl) 1Q 19 2Q19 3Q19 4Q 19 1Q 19 2Q19 3Q19 4Q 19 1Q 19 2Q19 3Q19 4Q 19 Weighted-Average Sales 52.35 2.60 16.81 Price Revenue Adjustments1 (.43) (1.24) (2.34) Net…
  15. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 15
    Consolidated Statement of Operations (GAAP) 2018 2019 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr Revenues: Product revenues: Oil sales 360 468 503 459 1,790 449 Natural gas sales 17 16 18 36 87 25 Natural…
  16. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 16
    Reconciliation-Adjusted Income (Loss) from Continuing Operations (Non-GAAP) 2018 2019 (Dollars in millions, except per share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr Reconciliation of adjusted income (loss) from…
  17. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 17
    Reconciliation Adjusted Diluted Income (Loss) Per Common Share 2018 2019 (Dollars in millions, except per share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr Reconciliation of adjusted diluted income (loss) per common…
  18. 1Q 2019 Earnings Presentation – WPX Energy, Inc. – slide 18
    Reconciliation Adjusted EBITDAX (Non-GAAP) 2018 2019 (Dollars in millions, except per share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr Reconciliation of Adjusted EBITDAX Net income (loss) - reported (115) (81) (7)…

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