Pro Forma WPX Hedges

Pro Forma WPX Hedges

Updated: August 12th, 2015

Jul - Dec 2015 Volume/Day Average Price

2016 Volume/Day Average Price

2017 Volume/Day Average Price

Natural Gas (MMBtu) Fixed Price Swaps

435,929

$4.05

412,132

$3.63

92,500

3.22

Costless Collars

50,000

$4.00 - $4.50

-

-

-

-

Fixed Price Calls

-

-

-

-

16,301

$4.50

MidCon Basis Swaps

20,000

($0.18)

-

-

-

-

Rockies Basis Swaps

280,000

($0.17)

-

-

-

-

San Juan Basis Swaps

107,500

($0.11)

-

-

-

-

SoCal Basis Swaps

50,000

$0.08

-

-

-

-

30,872

$85.14

25,049

$62.23

5,554

$65.30

2,500

$0.30

5,000

($0.45)

-

-

Natural Gas Basis (MMBtu)

Crude Oil (bbl) Fixed Price Swaps Crude Oil Basis (bbl) Midland Basis Swaps

In connection with several natural gas and crude oil swaps, we entered into swaptions with the swap counterparties granting the counterparty the right, but not the obligation, to enter into an underlying swap with us in the future. Natural gas swaptions for 2016 total 90,000 MMBtu/d at a weighted average strike price of $4.23. Crude oil swaptions for 2016 total 8,500 bbl/d; 3,250 bbl/d at a weighted average strike price of $62.81 and 5,250 bbl/d at a weighted average strike price of $97.55. Natural gas swaptions for 2017 total 65,000 MMBtu/d at a weighted average strike price of $4.19.

WPX Energy | EnerCom's 20th Oil & Gas Conference | August 18, 2015

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