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.
 | |
| Industry | Petroleum industry |
|---|---|
| Founded | 2011 |
| Defunct | January 7, 2021 |
| Fate | Acquired by Devon Energy |
| Headquarters | Tulsa, Oklahoma, U.S. |
Key people | Richard E. Muncrief, Chairman & CEO J. Kevin Vann, CFO |
| Products | Petroleum Natural gas Natural gas liquids |
Production output | 166.9 thousand barrels of oil equivalent (1,021,000 GJ) per day (2019) |
| Revenue |  US$2.292 billion (2019) |
 US$0.256 billion (2019) | |
| Total assets | US$8.413 billion (2019) |
| Total equity | US$4.515 billion (2019) |
Number of employees | 590 (2019) |
| Footnotes / references [1] | |
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 166.9 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 edit
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]
References edit
- ^ a b "WPX Energy, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Williams Completes Separation of E&P Business" (Press release). Business Wire. January 3, 2012.
- ^ "WPX Energy Completes Sale of Working Interests to Legacy LP" (Press release). Business Wire. June 4, 2014.
- ^ "WPX Energy Completes $200 Million Asset Sale" (Press release). Business Wire. May 27, 2015.
- ^ "WPX Energy Adds Acreage in Gallup Oil Play" (Press release). Business Wire. June 22, 2015.
- ^ "WPX Energy Completes Acquisition of Permian Producer" (Press release). Business Wire. August 17, 2015.
- ^ "WPX Energy Sells Powder River Basin Assets" (Press release). Business Wire. September 1, 2015.
- ^ "WPX Energy to Receive $294 Million for International Interests" (Press release). Business Wire. October 3, 2014.
- ^ "WPX Energy Completes Sale of San Juan Basin Gathering System" (Press release). Business Wire. March 9, 2016.
- ^ "WPX Energy Completes $910 Million Sale of Piceance Subsidiary" (Press release). Business Wire. April 8, 2016.
- ^ "WPX Increases Delaware Basin Inventory with Bolt-On Acquisition" (Press release). Business Wire. January 12, 2017.
- ^ Wilmoth, Adam (January 13, 2017). "WPX Energy buys Permian assets for $775 million". The Oklahoman.
- ^ "WPX Energy Sells San Juan Gallup Holdings for $700 Million" (Press release). Business Wire. February 5, 2018.
- ^ "Devon Energy and WPX Energy Complete Merger of Equals Transaction" (Press release). Globe Newswire. January 7, 2021.
- ^ "Devon Energy completes $5.8 billion acquisition of WPX Energy". Houston Chronicle. January 7, 2021.
External links edit
- Historical business data for WPX Energy, Inc.:
- SEC filings