Last $10.66 USD
Change Today +0.07 / 0.66%
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As of 8:04 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

3500 One Williams Center

Tulsa, OK 74172

United States

Phone: 855-979-2012


WPX Energy, Inc., an independent natural gas and oil exploration and production company, is engaged in the exploitation and development of long-life unconventional properties. The company focuses on exploiting its significant natural gas reserves base and related natural gas liquids (NGLs) in the Piceance Basin of the Rocky Mountain region, and on developing and growing its oil positions in the Williston Basin in North Dakota and the San Juan Basin in the southwestern the United States. The company’s other areas of domestic operations include natural gas plays in the Appalachian Basin in Pennsylvania, the San Juan Basin, and the Powder River Basin in Wyoming. In addition, the company owns a 69 percent controlling ownership interest in Apco Oil and Gas International Inc. (Apco), which holds oil and gas concessions in Argentina. Reserves The company’s proved reserves, as of December 31, 2013 were 4,905 Bcfe, comprised of 4,762 Bcfe in domestic reserves and 143 Bcfe in net international reserves. Business Strategy The company’s business strategy is to increase shareholder value by finding and developing reserves and producing natural gas, oil and NGLs at costs that generate attractive rates of return on its investments. Its strategy includes the following elements: efficiently allocate capital for optimal portfolio returns; continue cost-efficient development approach; target a more balanced commodity mix in production profile through development and exploration; pursue efforts to monetize certain assets and redeploy proceeds; maintain financial liquidity and manage commodity price sensitivity; and optimize and focus portfolio of assets over time. Properties The company’s principal areas of operation are the Piceance Basin, Williston Basin, San Juan Basin, Appalachian Basin, Powder River Basin and, through its ownership of Apco, Colombia and Argentina. Piceance Basin: During 2013, the company operated an average of 6.6 drilling rigs in the basin, including 5.6 in the Piceance Valley and one in the Piceance Highlands. The Piceance Basin is located in northwestern Colorado. The company’s operations in the basin are divided into two areas: the Piceance Valley and the Piceance Highlands. The company’s Piceance Valley area includes operations along the Colorado River valley and is the more developed area where the company has produced consistent, repeatable results. The company’s development activities in the basin are primarily focused on the Williams Fork section within the Mesaverde formation. Williston Basin: In 2010, the company acquired leasehold positions of approximately 85,800 net acres in the Williston Basin. All of these properties are on the Fort Berthold Indian Reservation in North Dakota and the company is the primary operator. During 2013, the company operated an average of 4.1 rigs on its Williston Basin properties and the company had an average of 14.8 Mboe/d of net production from its Williston Basin wells. Williston Basin is spread across North Dakota, South Dakota, Montana and parts of southern Canada, covering approximately 202,000 square miles, of which 143,000 square miles are in the United States. The basin produces oil and natural gas from various producing horizons including the Bakken, Three Forks, Madison and Red River formations. San Juan Basin: The company’s San Juan Basin properties include holdings across the basin producing primarily from the Mesaverde, Fruitland Coal and Mancos Shale formations which are predominantly gas bearing. The company operates two units in New Mexico (Rosa and Cox Canyon), as well as non-unit properties, and the company operates in three major areas of Colorado (Northwest Cedar Hills, Ignacio and Bondad). The company operates 878 wells in the San Juan Basin and also own interest in 2,328 wells operated by other operators in New Mexico and Colorado. The company holds approximately 128,000 net acres in the gas window of the basin. As of December 31, 2013, its leasehold position in the oil window of the San Juan Basin was approximately 32,000 net acres and the company is targeting additional acreage. Appalachian Basin: The company’s Appala

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