On Aug. 17, 2015, WPX successfully completed the purchase of privately held RKI Exploration & Production, LLC.
With the merger complete, WPX now has a substantial presence in the core of the Permian’s Delaware Basin that includes:
- Approximately 22,000 boe/d of existing production – more than half of which is oil;
- Approximately 92,000 net acres – approximately 98 percent of which is held by production;
- More than 3,600 gross risked drilling locations across stacked pay intervals; and
- More than 375 miles of scalable gas gathering and water infrastructure.
The Permian Basin is characterized by numerous stacked pay reservoirs, extensive production history, long-lived reserves and high drilling success rates. The 92,000 net acres represent more than 670,000 prospective net effective acres of stacked pay.
The newly acquired Permian assets have existing production from 10 of 12 prospective benches in a 9,000 foot hydrocarbon-charged stratigraphic column that includes the Wolfcamp, Bone Spring, Avalon and Delaware Sands intervals.