WPX Energy (NYSE: WPX) announced today that it has priced a public offering of 49,500,000 shares of its common stock for total gross proceeds (before estimated expenses) of approximately $485 million.

Pursuant to the offering, WPX intends to grant the underwriters a 30-day option to purchase up to an additional 7,425,000 shares of WPX's common stock.

The underwriters intend to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The offering is expected to close on or around June 9, 2016, subject to customary closing conditions.

WPX intends to use the net proceeds from the offering for general corporate purposes, which may include an acceleration of drilling and completion activities, bolt-on acreage acquisitions and midstream infrastructure in the Delaware Basin.

Credit Suisse Securities (USA), LLC, BofA Merrill Lynch, Barclays, and Citigroup are acting as joint book-running managers for the offering.

The offering is being made pursuant to an effective shelf registration statement of WPX previously filed with the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and the accompanying base prospectus.

Copies of the preliminary prospectus supplement for the offering and the accompanying base prospectus may be obtained by sending a request to:

Credit Suisse Securities (USA), LLCAttn: Prospectus DepartmentOne Madison AvenueNew York, NY 10010Phone: (800) 221-1037Email: newyork.prospectus@credit-suisse.com

BofA Merrill Lynch200 North College Street, 3rd FloorCharlotte, N.C. 28255-0001Attn: Prospectus DepartmentEmail: dg.prospectus_requests@baml.com

Barclaysc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Phone: (888) 603-5847Email: Barclaysprospectus@broadridge.com

Citigroupc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, New York 11717Phone: (800) 831-9146

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About WPX Energy, Inc.

WPX is an oil-focused energy company with operations in the Permian Basin in Texas and New Mexico, the Williston Basin in North Dakota, and the San Juan Basin in New Mexico and Colorado. Our principal executive office is located at 3500 One Williams Center, Tulsa, Okla., 74172.

This press release includes "forward-looking statements." 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 WPX. 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 on its website or otherwise. WPX 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 at www.sec.gov .

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