WPX Energy Inc.

WPX Energy (NYSE:WPX) announced today that its total proved reserves at Dec. 31, 2013, increased 5.5 percent to 4.90 trillion cubic feet equivalent. Year-end 2013 domestic reserves were 4.76 Tcfe. International reserves were 23.8 million barrels of oil equivalent. Proved Reserves Highlights: Domestic oil reserves up 34%; surpasses 100 million barrels Replaced domestic oil production at a rate of 547% Total [...]

WPX Energy (NYSE: WPX) today announced a 2014 capital plan of $1.47 billion (midpoint), with approximately 85 percent of spending allocated to Williston, Piceance and San Juan Gallup development. 2014 Highlights: 39 percent planned increase in domestic oil volumes 62 Williston Basin oil wells (gross) planned – an increase of 25 percent vs. 2013 29 San Juan Gallup oil wells planned – nearly doubling 2013 activity [...]

WPX Energy (NYSE:WPX) announced today that its 2013 fourth-quarter and full-year financial results will include the impact of up to $1.4 billion in pre-tax impairment charges. The non-cash charges are a result of a decline in forward market natural gas prices particularly in the Northeast, where Appalachia pricing declined 26 percent in the fourth quarter and 34 percent overall during 2013. NYMEX pricing also declined [...]

WPX Energy (NYSE:WPX) plans to discuss its fourth-quarter and year-end 2013 results during a webcast on Thursday, Feb. 27. Management will discuss the results and provide an update on the company’s operations starting at 10 a.m. Eastern. Participants are encouraged to access the event and the corresponding slides at www.wpxenergy.com. A limited number of phone lines also will be available at 800-299-8538 [...]

WPX Energy (NYSE:WPX) announced today that Karl F. Kurz has been elected to the company’s board of directors. This increases the size of WPX’s board to 12. Kurz is a former chief operating officer for Anadarko and also held management positions at Vastar Resources and ARCO Oil and Gas. Most recently, he was the managing director and co-head of the energy group and a member of the investment committee at CCMP Capital [...]

WPX Energy (NYSE:WPX) today announced that it has reached an agreement with Taconic Capital Advisors LP, the company’s second largest shareholder, which owns 13.8 million shares representing 6.9 percent of WPX’s outstanding shares. As part of this agreement, WPX will increase the size of its board of directors from 11 to 12 on or before Jan. 10, 2014. The newly created board seat will be filled by one of two independent [...]

WPX Energy (NYSE:WPX) today announced that Ralph A. Hill will step down as president, chief executive officer and board member of the company and that the board of directors has appointed James J. Bender as interim president, CEO and board member, effective Dec. 31, 2013. Hill will remain with the company through March 31, 2014, to assist with the transition of his duties. Hill spent over 32 years with Williams [...]

WPX Energy announced today that it is launching a website to help clear up controversy and misinformation surrounding hydraulic fracturing and the process of exploring for, drilling and producing oil and natural gas. The site – www.downdeep.com – serves as a platform for delivering an approximately 30-minute video commissioned by WPX Energy. The video is titled Down Deep: Unearthing the Truth About Hydraulic Fracturing [...]

WPX Energy Inc. (NYSE:WPX) (“WPX Energy” or the “Company”) announced today that it intends to form a master limited partnership, or “MLP,” in the first half of 2014 and to offer to the public common units representing limited partner units in the MLP, which will hold working interests in mature, producing natural gas properties located in the Piceance Basin in Colorado. The MLP, to be called WPX Energy Partners, L.P [...]

WPX Energy (NYSE:WPX) today announced its unaudited results for the third quarter of 2013. Items driving the company’s operations and financial performance include: Initial Niobrara well hits 2 Bcf in cumulative production; 2nd Niobrara well continues impressive results Company stems gas production decline; sequential quarter gas volumes higher Oil production at all-time high; Bakken oil up 46% vs. 3Q last year [...]