WPX Energy’s Rick Muncrief Named Executive of the Year

WPX Chairman and CEO Rick Muncrief is Oil and Gas Investor's Executive of the Year. Photo by Shane Bevel. Courtesy WPX.

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TULSA, Okla.--()--WPX (NYSE: WPX) Chairman, President and Chief Executive Officer Rick Muncrief is receiving the Executive of the Year award from Oil and Gas Investor today at the Energy Capital Conference in Austin, Texas.

Rick is the fourteenth recipient of the magazine’s annual award, joining previous honorees such as Harold Hamm from Continental Resources, Chuck Davidson from Noble Energy, Scott Sheffield from Pioneer Natural Resources and Jim Hackett from Anadarko Petroleum.

Oil and Gas Investor selected Muncrief this year for “completely retooling the portfolio and cost structure of the company to become one of the leading performers in its class, with ample room to grow.”

Muncrief joined WPX in May 2014 and has overseen more than $6 billion in transactions to increase the company’s gross drillable locations sevenfold. In a span of just over 18 months, WPX amassed more than 120,000 net acres in the Permian’s Delaware Basin where it has an estimated 6,400 gross drillable locations.

He also is a member of the board of the American Petroleum Institute and the American Exploration & Production Council. Muncrief has 36 years of upstream and midstream experience.

I’m personally humbled but grateful to see WPX in the spotlight. This honor speaks to the tremendous efforts that our entire organization has accomplished,” Muncrief said.

About WPX Energy, Inc.

WPX is one of the 20 largest U.S. energy producers based on total assets and market capitalization. The company posted double-digit oil volume growth each of the past five years. WPX is active in the Delaware, Williston and San Juan basins. The Delaware Basin is the western portion of the greater Permian Basin.

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

WPX's Rick Muncrief has overseen more than $6 billion in transactions to increase the company’s gross drillable locations sevenfold.

Contacts

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