WPX Energy – Day Two Breakout Notes

Ralph Hill, Chief Executive Officer and Rod Sailor, Chief Financial Officer of WPX Energy (WPX) presented today at EnerCom’s The Oil & Gas Conference® 17. WPX Energy is an independent natural gas and oil exploration company with primary production coming from the the Piceance, Powder River and San Juan Basins. WPX also has a growing upstart presence in Pennsylvania’s Marcellus Shale and North Dakota’s Bakken Shale.

During the company’s breakout session, management was asked the following questions:

• Could you comment on the gas prices you need to see in the Piceance Basin for the play to be economical?
• What is your expectation for ethane production in the Piceance Basin, as well as vendor availability in the same area?
• Can you talk about your horizontal well costs?
• Are you including the San Juan oil window in your horizontal well costs?
• What specifically have you been doing to drive operating costs down in the Marcellus Shale?
• If we see a return to the low $4 range in gas prices, what’s reasonable to expect in compound growth?
• Given gas prices we’re experiencing this year, what can we expect in terms of reserve impact?
• If you had known where gas prices would be in the second quarter, would you have run with more or less capital expenditure In the Piceance Basin? Even at second quarter prices, you don’t feel that you’re destroying capital?

Click here for WPX Energy’s webcast.

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