This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Agency Recognizes WPX Energy For Water Management And Drilling Innovation

WPX Energy (NYSE:WPX) received two awards in Colorado today for its water management practices and role in advancing modifications to a drilling rig that can now be deployed in tight, narrow canyons.

“Our position in the state’s Piceance Basin is unique in the industry, driven by the fact that we are in the geologic core of the basin and have pioneered many technological firsts that have made us the leading, most cost-efficient producer here,” said Ralph Hill, WPX chief executive officer.

“Our employees relentlessly explore ideas and find new ways to improve our business. Today, our total production in the state provides enough fuel to meet the energy needs of more than 3 million homes per day.

“This is also an area where we are ideally suited to rapidly increase our natural gas production in the right price environment,” Hill added.

WPX operates more than 4,000 natural gas wells across 212,000 net acres in western Colorado where the company averaged 712 million cubic feet per day of net natural gas production and 30,000 barrels per day of NGL production during the second-quarter.

The honors mark the seventh and eighth for WPX from the Colorado Oil and Gas Conservation Commission over the past five years. The company also received special recognition in 2005 for 10 consecutive years of outstanding operations.

WPX recycles the water produced from its wells in the Piceance Basin to hydraulically fracture and complete future wells. In 2010 and 2011, the company made multi-million-dollar investments in new technology and infrastructure at its water treatment facilities in Rulison, Colo. and Parachute, Colo.

The COGCC recognized these investments and other measures, which have helped WPX reduce its water-handling costs in the basin by 60 percent and water-hauling traffic by 95 percent. WPX also expects new technology at the two facilities to reduce air emissions by as much as 1,200 tons per year.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs