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 hydrocarbon deposits, particularly petroleum and natural gas, in the Earth's crust using petroleum geology. Exploration methods ...

. It was organized in

Delaware Delaware ( ) is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic and South Atlantic states, South Atlantic regions of the United States. It borders Maryland to its south and west, Pennsylvania to its north, New Jersey ...

and headquartered in

Tulsa, Oklahoma Tulsa ( ) is the List of municipalities in Oklahoma, second-most-populous city in the U.S. state, state of Oklahoma, after Oklahoma City, and the List of United States cities by population, 48th-most-populous city in the United States. The po ...

. In 2021, the company merged with

Devon Energy Devon Energy Corporation is a company engaged in hydrocarbon exploration in the United States. It is organized in Delaware with operational headquarters in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its primary operations are ...

. All of the company's assets were in either the

Williston Basin The Williston Basin is a large intracratonic sedimentary basin in eastern Montana, western North Dakota, South Dakota, southern Saskatchewan, and south-western Manitoba that is known for its rich deposits of petroleum and potash. The basin is a ...

(42% of 2019 production) or the Permian Basin (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 chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring un ...

, 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 natura ...

, and 22% was

natural gas Natural gas (also fossil gas, methane gas, and gas) is a naturally occurring compound of gaseous hydrocarbons, primarily methane (95%), small amounts of higher alkanes, and traces of carbon dioxide and nitrogen, hydrogen sulfide and helium ...

. 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, 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. It is distinct ...

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 share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...

. * 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 Marcellus may refer to: People * Marcellus (name) * Marcellus of Ancyra, fourth-century Christian bishop and theologian * Marcus Claudius Marcellus, Roman commander * Marcellus of Tangier * Marcellus Empiricus * Marcellus (nephew of Augustu ...

marketing contracts for $200 million. * In June 2015, the company acquired 14,300 net acres in the

Gallup Gallup may refer to: * Gallup, Inc., a firm founded by George Gallup, well known for its opinion poll * Gallup (surname), a surname *Gallup, New Mexico, a city in New Mexico, United States ** Gallup station, an Amtrak train in downtown Gallup, New ...

, New Mexico oil window of 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 $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 ''Coalbed methane'' (CBM or coal-bed methane), coalbed gas, or coal seam gas (CSG) is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, Australia, and other co ...

properties in Wyoming's

Powder River Basin The Powder River Basin is a geologic structural basin in southeast Montana and northeast Wyoming, about east to west and north to south, known for its extensive coal reserves. The former hunting grounds of the Oglala Lakota, the area is very ...

for $80 million. * In October 2015, the company sold its assets in

Argentina Argentina, officially the Argentine Republic, is a country in the southern half of South America. It covers an area of , making it the List of South American countries by area, second-largest country in South America after Brazil, the fourt ...

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 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