CTOs on the Move

WPX Energy specializes in producing natural gas, oil and natural gas liquids from non-conventional resources such as tight-sands and shale formations. We`re in some of the best resource plays in the nation: North Dakota`s Williston Basin, New Mexico`s San Juan Basin and Colorado`s Piceance Basin. Our total proved reserves at Dec. 31, 2014, were 727 million barrels of oil equivalent, or 4.36 trillion cubic feet equivalent. Oil reserves increased 27 percent over the prior year to 131 million barrels. WPX replaced its oil production at a rate of 421 percent, excluding divestitures. Year-end 2014 proved reserves reflect 72 percent natural gas, ...

WPX Energy specializes in producing natural gas, oil and natural gas liquids from non-conventional resources such as tight-sands and shale formations. We`re in some of the best resource plays in the nation: North Dakota`s Williston Basin, New Mexico`s San Juan Basin and Colorado`s Piceance Basin. Our total proved reserves at Dec. 31, 2014, were 727 million barrels of oil equivalent, or 4.36 trillion cubic feet equivalent. Oil reserves increased 27 percent over the prior year to 131 million barrels. WPX replaced its oil production at a rate of 421 percent, excluding divestitures. Year-end 2014 proved reserves reflect 72 percent natural gas, 18 percent crude oil and 10 percent natural gas liquids, compared with 76 percent natural gas, 13 percent crude oil and 11 percent NGL at year-end 2013. WPX is based in Tulsa, Okla., and employs approximately 1,000 people across our operations. WPX CEO Rick Muncrief joined the company last year. He is a petroleum engineer who has worked in the Rockies for most of his career, including 27 years with ConocoPhillips, Burlington Resources and their predecessors. Net cash provided by operating activities for full-year 2014 was approximately $1.07 billion, including $291 million in the fourth quarter. Net cash for 2014 increased 68 percent vs. $636 million in 2013.

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