WPX Energy

WPX Energy, Inc. (Williams Production and Exploration) is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Tulsa, Oklahoma.

WPX Energy, Inc.
Public company
Traded asNYSE: WPX
S&P 400 component
IndustryPetroleum industry
Founded2011 (2011)
HeadquartersTulsa, Oklahoma, United States
Key people
Richard E. Muncrief, Chairman & CEO
J. Kevin Vann, CFO
ProductsPetroleum
Natural gas
Natural gas liquids
Production output
166.9 thousand barrels of oil equivalent (1,021,000 GJ) per day (2019)
Revenue $2.292 billion (2019)
$0.256 billion (2019)
Total assets $8.413 billion (2019)
Total equity $4.515 billion (2019)
Number of employees
590 (2019)
Websitewww.wpxenergy.com
Footnotes / references
[1]

All of the company's assets are in either the Williston Basin (42% of 2019 production) or the Permian Basin (58% of 2019 production). Of the company's total 2019 average production of 166.9 barrels of oil equivalent (1,021 GJ) per day, 62% was petroleum, 16% was natural gas liquids, and 22% was natural gas. As of December 31, 2019, the company had 527.559 million barrels of oil equivalent (3.22753×109 GJ) of proved reserves, of which 56% was petroleum, 21% was natural gas liquids, and 23% was natural gas.[1]

History

In January 2012, the company completed the corporate spin-off from the Williams Companies and became a public company via an initial public offering.[2]

In June 2014, the company sold a working interest in some of its wells in the Piceance Basin to Legacy Reserves LP for $355 million.[3]

In May 2015, the company sold Marcellus Shale marketing contracts for $200 million.[4]

In June 2015, the company acquired 14,300 net acres in the Gallup oil window of the San Juan Basin for $26 million.[5]

In August 2015, the company acquired RKI Exploration & Production, LLC, giving it assets in the Permian Basin.[6]

In September 2015, the company sold its remaining mature coalbed methane properties in Wyoming’s Powder River Basin for $80 million.[7]

In October 2015, the company sold its assets in Argentina for $294 million.[8]

In March 2016, the company sold its San Juan Basin gathering system for $309 million.[9]

In April 2016, the company sold its assets in the Piceance Basin to Terra Energy Partners for $911 million.[10]

In January 2017, the company acquired assets in the Permian Basin for $775 million.[11][12]

In 2018, the company sold its assets in the San Juan Basin for $775 million.[13]

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References
  1. "WPX Energy, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "Williams Completes Separation of E&P Business" (Press release). Business Wire. January 3, 2012.
  3. "WPX Energy Completes Sale of Working Interests to Legacy LP" (Press release). Business Wire. June 4, 2014.
  4. "WPX Energy Completes $200 Million Asset Sale" (Press release). Business Wire. May 27, 2015.
  5. "WPX Energy Adds Acreage in Gallup Oil Play" (Press release). Business Wire. June 22, 2015.
  6. "WPX Energy Completes Acquisition of Permian Producer" (Press release). Business Wire. August 17, 2015.
  7. "WPX Energy Sells Powder River Basin Assets" (Press release). Business Wire. September 1, 2015.
  8. "WPX Energy to Receive $294 Million for International Interests" (Press release). Business Wire. October 3, 2014.
  9. "WPX Energy Completes Sale of San Juan Basin Gathering System" (Press release). Business Wire. March 9, 2016.
  10. "WPX Energy Completes $910 Million Sale of Piceance Subsidiary" (Press release). Business Wire. April 8, 2016.
  11. "WPX Increases Delaware Basin Inventory with Bolt-On Acquisition" (Press release). Business Wire. January 12, 2017.
  12. Wilmoth, Adam (January 13, 2017). "WPX Energy buys Permian assets for $775 million". The Oklahoman.
  13. "WPX Energy Sells San Juan Gallup Holdings for $700 Million" (Press release). Business Wire. February 5, 2018.
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