WPX Energy adds chairman’s title to company’s CEO

WPX Energy’s board of directors has unanimously elected Richard E. "Rick" Muncrief as it next chairman, effective Jan. 1, 2017. Muncrief also is WPX’s president and CEO, positions he has held since May 15, 2014.

OGFJ spoke with Muncrief in November about the company's turnaround. The turnaround entailed more than $5 billion of A&D activity and WPX’s entry in the Permian’s Delaware Basin where it has an estimated 2.4 billion boe of net resource potential and more than 5,500 gross drillable locations across 102,000 net acres.

He succeeds William G. Lowrie, who will become the board’s lead independent director. Lowrie has been WPX’s chairman since its spinoff five years ago.

Ten of WPX’s eleven board members are independent. Muncrief is the sole inside director.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...