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Barclays CEO Energy Power Conference – WPX Energy, Inc.

WPX Energy, Inc. · Sep 3, 2014 · 17 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. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 1
    September 3, 2014 Barclays CEO Energy-Power Conference Rick Muncrief President & CEO, WPX Energy
  2. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 2
    WPX Portfolio Today Piceance Williston San Juan Appalachia Powder River Apco1 3,019 Bcfe Proved 105 MMboe Proved 517 Bcfe Proved 328 Bcfe Proved 245 Bcfe Proved 22 MMboe Proved 11,878 Bcfe 3P 176 MMboe 3P 1,645 Bcfe 3P 1,555 Bcfe 3P…
  3. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 3
    Recent Transactions Transaction with Legacy Reserves to sell working interest in Piceance wells Control an additional 26,000 net acres in the San Juan Gallup oil window 75,000 net acres in the oil window Agreed to sell mature Powder…
  4. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 4
    Piceance Basin 1 Energy Producer in Colorado More than 12,000 Excess Access to drillable locations infrastructure premium market Barclays CEO Energy-Power Conference September 3, 2014 6
  5. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 5
    Piceance Operations Currently running 9 rigs 2nd quarter net production 691 MMcfe/d Natural gas 584 MMcf/d NGL 15.8 Mbbl/d Oil 2.0 Mbbl/d Lowest-cost operator 34% less D&C capital cost1 57% less operating lifting cost2…
  6. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 6
    Williston Basin 1 Williston Producer in 1- and 2-year Cumulative Production 1 10 years of Operating 6-million-pound drillable inventory 5 rigs stimulations Based on NDIC data for Middle Bakken laterals (7,500 - 12,000 ) drilled…
  7. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 7
    Williston Continues to Drive Strong Production Growth Production exceeds 2Q target Average 30-day IP: Oil production up 53% 2Q 14 1,176 bo/d Middle Bakken vs. 2Q 13 1,095 bo/d Three Forks Oil production up 21% 2Q 14 vs. 1Q 14…
  8. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 8
    WPX is 1 in Middle Bakken Cumulative Production 1-Yr and 2-Yr Cumulative Production per Well1 Average 365-day (Based on productive days) cumulative production per well of 140.9 Mbo, 250,000.00 64% higher than the WPX 2-Yr…
  9. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 9
    San Juan Basin 1 Returns in the WPX Portfolio Rapidly growing oil Diversified Over 30 years production product mix experience Barclays CEO Energy-Power Conference September 3, 2014 11
  10. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 10
    San Juan Gallup Accelerating Production Growth Production exceeds 2Q target Oil production up 500% 2Q 14 vs. 2Q 13 2306 06L 178H Oil production up 76% 2Q 14 vs. 1Q 14 FIRST SALES: 3/9/2014 AVG. 30-DAY IP: 433 BOPD 2308 09A 149H…
  11. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 11
    San Juan Gallup 2014 Well Performance Exceeding 2013 70 Avg Gross Cumulative Oil Production (Mbbl) 60 13 Wells 15 Wells 50 40% increase in Oil 40 Production 30 20 2013 Spuds 10 2014 Spuds 0 0 100 200 300 400 500 600…
  12. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 12
    Western Prices Have Increased Relative to Eastern Locations 0.50 West Basis Strengthening1 East Basis Weakening2 0.33 0.00 (0.18) (0.15) (0.21) per MMBtu -0.50 -1.00 (1.26) -1.50 (1.74) -2.00 3 3 2007 to…
  13. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 13
    Strong Western Supply/Demand Fundamentals Through 2019 Northwest 2.0 Bcf/d Demand demand increase +2.0 Bcf/d through 2019 Rockies and Southwest San Juan Basin production 0.5 Bcf/d Demand flat to declining demand increase…
  14. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 14
    Significant Excess Transportation Capacity Advantages the Rockies Rockies Outflows and Capacity 14.0 1.50 12.0 1.00 NW Pipe Rockies basis 10.0 peaks at 18.72/MMBtu .50 on Feb. 6 , 2014 /MMBtu 8.0 Bcf/d .00 6.0 -.50…
  15. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 15
    Our Transport Costs are Decreasing while Northeast Producers are Increasing WPX Northeast Producer 1 Northeast Producer 2 500,000 450,000 400,000 350,000 Transportation Costs (/MM) 300,000 250,000 200,000 150,000…
  16. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 16
    Hedging Overview As of 8/28/2014 Balance of 2014 1 2015 Volume/Day Average Price Volume/Day Average Price Natural Gas (MMBtu) Fixed Price Swaps2 315,000 4.19 272,055 4.31 Costless Collars 190,000 4.04 - 4.66 50,000 4.00 - 4.50…
  17. Barclays CEO Energy Power Conference – WPX Energy, Inc. – slide 17
    Shifting to Pure Play E&P Mindset View Asset More We are building Nimble Base in New Way one culture, one organization, Focus on Greater Risk one mission. Profitability Tolerance Barclays CEO Energy-Power Conference…

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