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Acquisition of Felix Energy – WPX Energy, Inc.

WPX Energy, Inc. · Dec 16, 2019 · 13 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. Acquisition of Felix Energy – WPX Energy, Inc. – slide 1
    ACQUISITION OF FELIX ENERGY DECEMBER 16, 2019 N Y S E : W P X
  2. Acquisition of Felix Energy – WPX Energy, Inc. – slide 2
    Opportunistic Acquisition of Felix Upstream Accretive on all relevant metrics Plan to initiate dividend post closing Purchase price 3.5x 2020 EBITDAX 50 WTI Leverage-neutral transaction Expanding cash margins with…
  3. Acquisition of Felix Energy – WPX Energy, Inc. – slide 3
    Felix Transaction Overview Transaction Details Pro Forma Permian Acreage TOTAL CONSIDERATION: 2.5B 1 900MM cash component EDDY 153MM shares of WPX issued to seller1 LEA ACCELERATES 5-YEAR VISION NEW MEXICO 2 Improves tenets of…
  4. Acquisition of Felix Energy – WPX Energy, Inc. – slide 4
    Accelerates 5-Year Vision (50 - 55 WTI) ENHANCES ACCRETIVE SIGNIFICANT FREE OIL CREATES 5-YEAR VISION TRANSACTION CASH FLOW INVENTORY STRONGER WPX FIVE-YEAR VISION ACCELERATED 2019 2024 IMPLEMENT DURABLE GROWING DIVIDEND DIVIDEND…
  5. Acquisition of Felix Energy – WPX Energy, Inc. – slide 5
    De-Risked, Accretive, Value-Added Transaction ENHANCES ACCRETIVE SIGNIFICANT FREE OIL CREATES 5-YEAR VISION TRANSACTION CASH FLOW INVENTORY STRONGER WPX D E L A W A R E B ADelaware S I N TBasin R ATransaction N S A C TAnalysis I…
  6. Acquisition of Felix Energy – WPX Energy, Inc. – slide 6
    Strong 2020 Free Cashflow 50 WTI With Upside ENHANCES ACCRETIVE SIGNIFICANT FREE OIL CREATES 5-YEAR VISION TRANSACTION CASH FLOW INVENTORY STRONGER WPX 60/BBL WTI 500MM DISCIPLINED APPROACH TO USE OF EXCESS CASH 2020 FCF 60WTI…
  7. Acquisition of Felix Energy – WPX Energy, Inc. – slide 7
    Expands High-Margin Oil Inventory (1,500 Gross Locations) ENHANCES ACCRETIVE SIGNIFICANT FREE OIL CREATES 5-YEAR VISION TRANSACTION CASH FLOW INVENTORY STRONGER WPX 60 FELIX PAD WELL RESULTS CUMULATIVE OIL PRODUCTION (BO/FT)…
  8. Acquisition of Felix Energy – WPX Energy, Inc. – slide 8
    Shareholder Checklist ENHANCES ACCRETIVE SIGNIFICANT FREE OIL CREATES 5-YEAR VISION TRANSACTION CASH FLOW INVENTORY STRONGER WPX IMPLEMENTING STABLE FREE CASH DIVIDEND1 FLOW GENERATION DEEP INVENTORY OF LEVERAGE-NEUTRAL…
  9. Acquisition of Felix Energy – WPX Energy, Inc. – slide 9
    History of Being Opportunistic Permian acquisition and expansion strategy has been DISCIPLINED and focused on VALUE CREATION for WPX shareholders Acquired RKI E&P to Sold equity interest Sold Piceance in Whitewater enter Permian…
  10. Acquisition of Felix Energy – WPX Energy, Inc. – slide 10
    Appendix
  11. Acquisition of Felix Energy – WPX Energy, Inc. – slide 11
    2020 Pro Forma Guidance 2020 GUIDANCE OUTLOOK PRODUCTION 1Q 20201 FY 2020 Oil Mbbl/d 111 - 113 155 - 165 Assumes early 2Q 2020 close Natural Gas MMcf/d 215 - 220 270 - 290 NGL Mbbl/d 28.5 30.0 40.5 - 42.5 Drop 3rd Williston rig 3Q…
  12. Acquisition of Felix Energy – WPX Energy, Inc. – slide 12
    WPX Pro Forma Horizontal Inventory Update DECADES OF HIGH-QUALITY PERMIAN INVENTORY1 PRO FORMA 1-MILE EXTENDED LATERALS TOTAL UPPER/LOWER AVALON 19 34 53 BONE SPRING 672 948 1,620 UPPER WOLFCAMP (XY/A) 605 725 1,330 LOWER…
  13. Acquisition of Felix Energy – WPX Energy, Inc. – slide 13
    Felix Wells Deliver Top Tier Results TEXAS DELAWARE BENCHMARKING Avg. 24 Month Cumulative Oil Production (bo/ft)1 Top 10 Delaware Basin Operators as Measured by Productivity TEXAS DELAWARE REFERENCE MAP1 50 46 43 43 42 41 40 39…

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