WPX Energy, Inc. (Williams Production and Exploration) was a company engaged in

hydrocarbon exploration Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum geologists and geophysicists for deposits of hydrocarbons, particularly petroleum and natural gas, in the Earth using petroleum geology. Exploration methods Vis ...

. It was organized in

Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Del ...

and headquartered in

Tulsa, Oklahoma Tulsa () is the second-largest city in the state of Oklahoma and 47th-most populous city in the United States. The population was 413,066 as of the 2020 census. It is the principal municipality of the Tulsa Metropolitan Area, a region with ...

. In 2021, the company merged with

Devon Energy Devon Energy Corporation is an energy company engaged in hydrocarbon exploration in the United States. It is organized in Delaware and its corporate operative headquarters are in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its ...

. All of the company's assets were in either the Williston Basin (42% of 2019 production) or the

Permian Basin The Permian ( ) is a geologic period and stratigraphic system which spans 47 million years from the end of the Carboniferous Period million years ago (Mya), to the beginning of the Triassic Period 251.9 Mya. It is the last period of the Paleoz ...

(58% of 2019 production). Of the company's total 2019 average production of per day, 62% was

petroleum Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...

, 16% was

natural gas liquids Natural-gas condensate, also called natural gas liquids, is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields. Some gas species within the raw natur ...

, and 22% was

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...

. As of December 31, 2019, the company had of proved reserves, of which 56% was

, 21% was

, and 23% was

History

In January 2012, the company completed the

corporate spin-off A corporate spin-off, also known as a spin-out, or starburst or hive-off, is a type of corporate action where a company "splits off" a section as a separate business or creates a second incarnation, even if the first is still active. Characte ...

from the

Williams Companies The Williams Companies, Inc., is an American energy company based in Tulsa, Oklahoma. Its core business is natural gas processing and transportation, with additional petroleum and electricity generation assets. A Fortune 500 company, its commo ...

and became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...

. In June 2014, the company sold a working interest in some of its wells in the

Piceance Basin The Piceance Basin is a geologic structural basin in northwestern Colorado, in the United States. It includes geologic formations from Cambrian to Holocene in age, but the thickest section is made up of rocks from the Cretaceous Period. The basi ...

to Legacy Reserves LP for $355 million. In May 2015, the company sold Marcellus Shale marketing contracts for $200 million. In June 2015, the company acquired 14,300 net acres in the Gallup oil window of the San Juan Basin for $26 million. In August 2015, the company acquired RKI Exploration & Production, LLC, giving it assets in the Permian Basin. In September 2015, the company sold its remaining mature coalbed methane properties in Wyoming's Powder River Basin for $80 million. In October 2015, the company sold its assets in

Argentina Argentina (), officially the Argentine Republic ( es, link=no, República Argentina), is a country in the southern half of South America. Argentina covers an area of , making it the second-largest country in South America after Brazil, th ...

for $294 million. In March 2016, the company sold its San Juan Basin gathering system for $309 million. In April 2016, the company sold its assets in the

to Terra Energy Partners for $911 million. In January 2017, the company acquired assets in the Permian Basin for $775 million. In 2018, the company sold its assets in the

San Juan Basin The San Juan Basin is a geologic structural basin located near the Four Corners region of the Southwestern United States. The basin covers 7,500 square miles and resides in northwestern New Mexico, southwestern Colorado, and parts of Utah a ...

for $775 million. In January 2021, the company merged with

References

External links

{{authority control 2012 establishments in Oklahoma 2021 mergers and acquisitions Companies formerly listed on the New York Stock Exchange Defunct oil companies of the United States Defunct natural gas companies of the United States Non-renewable resource companies established in 2012 Corporate spin-offs