WPX Energy
{{short description|Former U.S. energy company}}
{{Infobox company
| name = WPX Energy, Inc.
| logo = WPX Energy Logo 2015.svg
| founded = {{Start date and age|2011}}
| hq_location = Tulsa, Oklahoma, U.S.
| fate = Acquired by Devon Energy
| defunct = {{end date and age|2021|01|07}}
| key_people = Richard E. Muncrief, Chairman & CEO
J. Kevin Vann, CFO
| industry = Petroleum industry
| products = Petroleum
Natural gas
Natural gas liquids
| production = {{convert|166.9|e3BOE|lk=in}} per day (2019)
| revenue = {{decrease}} {{US$|2.292 billion|link=yes}} (2019)
| net_income = {{increase}} US$0.256 billion (2019)
| assets = {{increase}} US$8.413 billion (2019)
| equity = {{increase}} US$4.515 billion (2019)
| num_employees = 590 (2019)
| footnotes = {{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1518832/000151883220000006/wpx-20191231.htm | title=WPX Energy, Inc. 2019 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}
}}
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 {{convert|166.9|BOE|lk=in}} per day, 62% was petroleum, 16% was natural gas liquids, and 22% was natural gas. As of December 31, 2019, the company had {{convert|527.559|e6BOE|lk=in}} of proved reserves, of which 56% was petroleum, 21% was natural gas liquids, and 23% was natural gas.
History
- In January 2012, the company completed the corporate spin-off from the Williams Companies and became a public company.{{cite press release | url=https://www.businesswire.com/news/home/20120103005264/en/Williams-Completes-Separation-EP-Business | title=Williams Completes Separation of E&P Business | publisher=Business Wire | date=January 3, 2012}}
- 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.{{cite press release | url=https://www.businesswire.com/news/home/20140604005899/en/WPX-Energy-Completes-Sale-Working-Interests-Legacy | title=WPX Energy Completes Sale of Working Interests to Legacy LP | publisher=Business Wire | date=June 4, 2014}}
- In May 2015, the company sold Marcellus Shale marketing contracts for $200 million.{{cite press release | url=https://www.businesswire.com/news/home/20150527006437/en/WPX-Energy-Completes-200-Million-Asset-Sale | title=WPX Energy Completes $200 Million Asset Sale | publisher=Business Wire | date=May 27, 2015}}
- In June 2015, the company acquired 14,300 net acres in the Gallup, New Mexico oil window of the San Juan Basin for $26 million.{{cite press release | url=https://www.businesswire.com/news/home/20150622005179/en/WPX-Energy-Adds-Acreage-Gallup-Oil-Play | title=WPX Energy Adds Acreage in Gallup Oil Play | publisher=Business Wire | date=June 22, 2015}}
- In August 2015, the company acquired RKI Exploration & Production, LLC, giving it assets in the Permian Basin.{{cite press release | url=https://www.businesswire.com/news/home/20150817005780/en/WPX-Energy-Completes-Acquisition-Permian-Producer | title=WPX Energy Completes Acquisition of Permian Producer | publisher=Business Wire | date=August 17, 2015}}
- In September 2015, the company sold its remaining mature coalbed methane properties in Wyoming's Powder River Basin for $80 million.{{cite press release | url=https://www.businesswire.com/news/home/20150901006677/en/WPX-Energy-Sells-Powder-River-Basin-Assets | title=WPX Energy Sells Powder River Basin Assets | publisher=Business Wire | date=September 1, 2015}}
- In October 2015, the company sold its assets in Argentina for $294 million.{{cite press release | url=https://www.businesswire.com/news/home/20141003005075/en/WPX-Energy-Receive-294-Million-International-Interests | title=WPX Energy to Receive $294 Million for International Interests | publisher=Business Wire | date=October 3, 2014}}
- In March 2016, the company sold its San Juan Basin gathering system for $309 million.{{cite press release | url=https://www.businesswire.com/news/home/20160309006012/en/WPX-Energy-Completes-Sale-San-Juan-Basin | title=WPX Energy Completes Sale of San Juan Basin Gathering System | publisher=Business Wire | date=March 9, 2016}}
- In April 2016, the company sold its assets in the Piceance Basin to Terra Energy Partners for $911 million.{{cite press release | url=https://www.businesswire.com/news/home/20160408005800/en/WPX-Energy-Completes-910-Million-Sale-Piceance | title=WPX Energy Completes $910 Million Sale of Piceance Subsidiary | publisher=Business Wire | date=April 8, 2016}}
- In January 2017, the company acquired assets in the Permian Basin for $775 million.{{cite press release | url=https://www.businesswire.com/news/home/20170112005996/en/WPX-Increases-Delaware-Basin-Inventory-Bolt-On-Acquisition | title=WPX Increases Delaware Basin Inventory with Bolt-On Acquisition | publisher=Business Wire | date=January 12, 2017}}{{cite news | url=https://oklahoman.com/article/5534159/wpx-energy-buys-permian-assets-for-775-million? | title=WPX Energy buys Permian assets for $775 million | first=Adam | last=Wilmoth | work=The Oklahoman | date=January 13, 2017}}
- In 2018, the company sold its assets in the San Juan Basin for $775 million.{{cite press release | url=https://www.businesswire.com/news/home/20180205005486/en/WPX-Energy-Sells-San-Juan-Gallup-Holdings | title=WPX Energy Sells San Juan Gallup Holdings for $700 Million | publisher=Business Wire | date=February 5, 2018}}
- In January 2021, the company merged with Devon Energy.{{cite press release | url=https://www.globenewswire.com/news-release/2021/01/07/2154994/0/en/Devon-Energy-and-WPX-Energy-Complete-Merger-of-Equals-Transaction.html | title=Devon Energy and WPX Energy Complete Merger of Equals Transaction | publisher=Globe Newswire | date=January 7, 2021}}{{Cite news | url=https://www.houstonchronicle.com/business/energy/article/Devon-Energy-completes-5-8-billion-acquisition-15852689.php | title=Devon Energy completes $5.8 billion acquisition of WPX Energy | work=Houston Chronicle | date=January 7, 2021}}
References
{{Reflist|1}}
External links
{{Finance links historical
| name = WPX Energy, Inc.
| sec_cik = WPX
}}
{{authority control}}
Category:2012 establishments in Oklahoma
Category:2021 mergers and acquisitions
Category:Companies formerly listed on the New York Stock Exchange
Category:Defunct oil companies of the United States
Category:Defunct natural gas companies of the United States
Category:Non-renewable resource companies established in 2012