WPX Energy explained

WPX Energy, Inc.
Hq Location:	Tulsa, Oklahoma, U.S.
Fate:	Acquired by Devon Energy
Key People:	Richard E. Muncrief, Chairman & CEO J. Kevin Vann, CFO
Industry:	Petroleum industry
Production:	166.9e3BOE per day (2019)
Revenue:	(2019)
Net Income:	US$0.256 billion (2019)
Assets:	US$8.413 billion (2019)
Equity:	US$4.515 billion (2019)
Num Employees:	590 (2019)
Footnotes:	^[1]

WPX Energy, Inc. (Williams Production and Exploration) was a company engaged in hydrocarbon exploration. It was organized in Delaware and headquartered in Tulsa, Oklahoma. In 2021, the company merged with Devon Energy.

All of the company's assets were 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 166.9BOE per day, 62% was petroleum, 16% was natural gas liquids, and 22% was natural gas. As of December 31, 2019, the company had 527.559e6BOE 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.^[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]

In January 2021, the company merged with Devon Energy.^{[14] [15]}

Notes and References

1. Web site: WPX Energy, Inc. 2019 Form 10-K Annual Report . U.S. Securities and Exchange Commission.
2. Williams Completes Separation of E&P Business . . January 3, 2012.
3. WPX Energy Completes Sale of Working Interests to Legacy LP . . June 4, 2014.
4. WPX Energy Completes $200 Million Asset Sale . . May 27, 2015.
5. WPX Energy Adds Acreage in Gallup Oil Play . . June 22, 2015.
6. WPX Energy Completes Acquisition of Permian Producer . . August 17, 2015.
7. WPX Energy Sells Powder River Basin Assets . . September 1, 2015.
8. WPX Energy to Receive $294 Million for International Interests . . October 3, 2014.
9. WPX Energy Completes Sale of San Juan Basin Gathering System . . March 9, 2016.
10. WPX Energy Completes $910 Million Sale of Piceance Subsidiary . . April 8, 2016.
11. WPX Increases Delaware Basin Inventory with Bolt-On Acquisition . . January 12, 2017.
12. News: WPX Energy buys Permian assets for $775 million . Adam . Wilmoth . . January 13, 2017.
13. WPX Energy Sells San Juan Gallup Holdings for $700 Million . . February 5, 2018.
14. Devon Energy and WPX Energy Complete Merger of Equals Transaction . . January 7, 2021.
15. News: Devon Energy completes $5.8 billion acquisition of WPX Energy . . January 7, 2021.