WPX Energy Extends Exchange Offer

WPX Energy (NYSE:WPX) announced today that it has extended its offer to exchange all of its privately placed outstanding 5.250 percent Senior Notes due 2017 for like principal amounts of newly registered 5.250 percent Senior Notes due 2017, and all of its privately placed outstanding 6.000 percent Senior Notes due 2022 for like principal amounts of newly registered 6.000 percent Senior Notes due 2022, until 5 p.m., New York City time, on Monday, June 25, 2012. The offer was previously scheduled to expire at 5 p.m., New York City time, on June 21, 2012.

As of 5 p.m. New York City time on Thursday, June 21, 2012, holders of $398,673,000 aggregate principal amount of the outstanding 5.250 percent Senior Notes due 2017 (constituting approximately 99.7 percent of the principal amount of such outstanding notes), and $1,099,000,000 aggregate principal amount of the outstanding 6.000 percent Senior Notes due 2022 (constituting approximately 99.9 percent of the principal amount of such outstanding notes), have delivered valid tenders or notices of guaranteed delivery pursuant to the offer.

Except as set forth herein, the terms and conditions of the offer remain unchanged. WPX Energy may further extend the expiration date of the offer in its sole discretion.

The exchange offer, which is required by the registration rights agreements for the outstanding notes, is being made pursuant to the prospectus dated May 23, 2012. Copies of the exchange offer prospectus and related transmittal materials governing the exchange offer are available from the exchange agent – The Bank of New York Mellon Trust Company, N.A., at:

This press release does not constitute an offer to sell or solicitation of an offer to buy such securities.

About WPX Energy, Inc.

WPX Energy is an exploration and production company focused on developing its significant natural gas, natural gas liquids and oil reserves, particularly in the Piceance Basin, Bakken Shale and Marcellus Shale. WPX also has domestic operations in the Powder River and San Juan basins, as well as international investments in Argentina and Colombia. Go to http://www.wpxenergy.com/investors/subscribe-to-email/ to join our e-mail list.

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.