WPX Aligns Leadership Team with Long-Term Plan

TULSA, Okla.--()--WPX Energy (NYSE:WPX) today announced three personnel moves on its senior leadership team as the company executes on its long-term vision and business strategy.

“Focusing on operational performance, technical excellence and margin expansion is going to take WPX further,” said Rick Muncrief, WPX president and chief executive officer.

“Our organizational capacity is essential to our plan. We have dynamic talent at WPX that’s hungry to move quickly, show leadership and try new things. It’s how we learn and improve our economic returns.”

Joining WPX effective Oct. 27 is Clay M. Gaspar who will serve as senior vice president of operations and resource development. He is a member of The Society of Petroleum Engineers and has a bachelor’s degree in petroleum engineering from Texas A&M and a master’s degree in petroleum and geosciences engineering from The University of Texas. He has worked for Newfield Exploration, Anadarko Petroleum and Mewbourne Oil in a number of technical and leadership roles.

“We’re happy to welcome Clay to WPX,” Muncrief added. “He’s an impressive addition who has a track record for successful leadership and execution.”

Bryan K. Guderian on WPX’s existing leadership team is taking on the newly created role of senior vice president of business development. His responsibilities include acquisitions and divestitures, land and land administration. He will also oversee WPX’s international operations until the company completes its announced exit from its Apco interests. He began his career as a landman and has a bachelor’s degree in petroleum land management from the University of Oklahoma.

Steven G. Natali, senior vice president of exploration, has decided to leave the company effective Oct. 31. Bob Revella, vice president of geosciences, will oversee exploration on an interim basis until a successor is named.

The remainder of WPX’s senior leadership will continue in their current roles. In addition to Muncrief, Gaspar and Guderian, the team includes Dennis C. Cameron, Michael R. Fiser, Marcia M. MacLeod and J. Kevin Vann. Vann was named chief financial officer in July.

About WPX Energy, Inc.

WPX Energy develops and operates oil and gas producing properties in North Dakota, New Mexico and Colorado. The company has a long history of innovation and stakeholder engagement, recognized through more than 40 local, state and federal awards.

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Statements regarding future drilling and production are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to, the volatility of oil, natural gas and NGL prices; uncertainties inherent in estimating oil, natural gas and NGL reserves; drilling risks; environmental risks; and political or regulatory changes. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date of this press release, even if subsequently made available by WPX Energy on its website or otherwise. WPX Energy does not undertake and expressly disclaims any obligation to update the forward-looking statements as a result of new information, future events or otherwise. Investors are urged to consider carefully the disclosure in our filings with the Securities and Exchange Commission, available from us at WPX Energy, Attn: Investor Relations, P.O. Box 21810, Tulsa, Okla., 74102, or from the SEC’s website at www.sec.gov.

Contacts

WPX Energy, Inc.
Media Contact:
Kelly Swan, 539-573-4944
or
Investor Contact:
David Sullivan, 539-573-9360

Release Summary

Clay M. Gaspar and Bryan K. Guderian are part of the updated executive leadership team at WPX Energy charged with executing the company's five-year business plan.

Contacts

WPX Energy, Inc.
Media Contact:
Kelly Swan, 539-573-4944
or
Investor Contact:
David Sullivan, 539-573-9360