Third-Quarter Operations Update

Our San Juan Basin production averaged 31.9 Mboe per day in the third quarter, equal to our output in the preceding quarter. Liquids volumes (oil and NGL) rose 4 percent vs. the preceding quarter, while gas volumes declined 2 percent.

WPX’s six-well pad in the West Lybrook unit now has 60 days of cumulative production of approximately 365,000 Boe (70% oil), which represents an average of just over 1,000 Boe/d per well.

The pad had a peak rate of 8,571 Boe/d during initial production despite early-time facilities constraints.

WPX also recently completed its first two wells in the Kimbeto Wash and North Escavada federal units. These units are located east and west of WPX’s most recent activity in the West Lybrook unit.

Cumulative 30-day production from these step-out locations exceeds 70,000 Boe (67% oil), which represent a combined average of more than 1,100 Boe/d per well. Drilling times averaged just under nine days per well.

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