WPX was born in New Mexico way back in 1983. In fact, our very first oil and gas properties were acquired from a pipeline company operating in New Mexico more than three decades ago.
Here’s some more background on our history in the state:
Our office in Aztec, N.M., employs more than 80 people, and our local payroll was $8.6 million in 2015, including salaries, overtime pay and bonuses.These individuals have more than 500 years of service with the company.
This staff supports our activities in the San Juan Basin where we have 226,000 net acres under lease. Our operations are located in four counties: San Juan, Rio Arriba, Sandoval and La Plata, Colo. Locally, we operate 990 wells and hold a joint ownership interest in another 2,300 wells. Most of these operations are natural gas, along with a new oil discovery.
In August 2015, we acquired another company (RKI Exploration & Production) that has operations in the Permian Basin in the southeast part of the state.
These oil-focused operations cover approximately 92,000 net acres and are concentrated in Eddy and Lea counties with a field office in Carlsbad where we employ nearly 30 people.
We plan to invest between $75 and $90 million in 2016 to drill new wells in our San Juan Basin operations.