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Use these links to rapidly review the document TABLE OF CONTENTS Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant ý Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ý Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material under §240.14a-12 WPX Energy, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): ý No fee required. o Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: o Fee paid previously with preliminary materials. o Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed:
Transcript
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Use these links to rapidly review the document TABLE OF CONTENTS 

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UNITEDSTATESSECURITIESANDEXCHANGECOMMISSION

Washington,D.C.20549

SCHEDULE14A

ProxyStatementPursuanttoSection14(a)oftheSecuritiesExchangeActof1934(AmendmentNo.)

FiledbytheRegistrantý

FiledbyaPartyotherthantheRegistranto

Checktheappropriatebox:

o PreliminaryProxyStatement

o Confidential,forUseoftheCommissionOnly(aspermittedbyRule14a-6(e)(2))

ý DefinitiveProxyStatement

o DefinitiveAdditionalMaterials

o SolicitingMaterialunder§240.14a-12

WPXEnergy,Inc.

(NameofRegistrantasSpecifiedInItsCharter)

(NameofPerson(s)FilingProxyStatement,ifotherthantheRegistrant)

PaymentofFilingFee(Checktheappropriatebox):

ý Nofeerequired.

o FeecomputedontablebelowperExchangeActRules14a-6(i)(1)and0-11. (1) Titleofeachclassofsecuritiestowhichtransactionapplies:

(2) Aggregatenumberofsecuritiestowhichtransactionapplies:

(3) PerunitpriceorotherunderlyingvalueoftransactioncomputedpursuanttoExchangeActRule0-11(setforththeamountonwhichthefiling

feeiscalculatedandstatehowitwasdetermined):

(4) Proposedmaximumaggregatevalueoftransaction:

(5) Totalfeepaid:

o Feepaidpreviouslywithpreliminarymaterials.

o CheckboxifanypartofthefeeisoffsetasprovidedbyExchangeActRule0-11(a)(2)andidentifythefilingforwhichtheoffsettingfeewaspaidpreviously.Identifythepreviousfilingbyregistrationstatementnumber,ortheFormorScheduleandthedateofitsfiling.

(1) AmountPreviouslyPaid:

(2) Form,ScheduleorRegistrationStatementNo.:

(3) FilingParty:

(4) DateFiled:

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3500OneWilliamsCenterTulsa,Oklahoma74172

April7,2020DearWPXEnergyStockholders:

Youarecordiallyinvitedtoattendthe2020AnnualMeetingofStockholdersofWPXEnergy,Inc.ThemeetingwillbeheldonThursday,May21,2020,intheRobertJ.LafortuneStudiooftheTulsaPerformingArtsCenter,110EastSecondStreet,Tulsa,Oklahoma74103,at9:30a.m.,CentralDaylightTime.WelookforwardtogreetingpersonallyasmanyofourstockholdersaspossibleattheAnnualMeeting.

ThenoticeoftheAnnualMeetingandproxystatementthataccompanythisletterprovideinformationconcerningmatterstobeconsideredandacteduponattheAnnualMeeting.Ourproxystatementalsoincludesinformationaboutthemeetingitself,including:

• howtoobtainadmissiontothemeetingifyouplantoattend;and

• differentmethodsyoucanusetovotebyproxy,includingbyInternet,telephoneandmail.

AsastockholderofWPXEnergy,youplayanimportantroleinourcompanybyconsideringandtakingactiononthesematters.Weappreciatethetimeandattentionyouinvestinmakingthoughtfuldecisions.

WhilemostofourstockholdersareunlikelytobeabletoattendtheAnnualMeetinginperson,itisimportantthatyoursharesberepresentedandvotedatthemeeting.Weencourageyoutovoteyoursharesaspromptlyaspossible.

Thankyouforyourcontinuedinterestinourcompany.

Verytrulyyours,

RichardE.MuncriefChairman of the Board of Directors and Chief Executive Officer

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WPXENERGY,INC.3500OneWilliamsCenterTulsa,Oklahoma74172

NOTICEOFANNUALMEETINGOFSTOCKHOLDERSMay21,2020

TothestockholdersofWPXEnergy,Inc.:

WPXEnergy,Inc.willholditsAnnualMeetingofStockholdersonMay21,2020at9:30a.m.CentralDaylightTimeintheRobertJ.LafortuneStudiooftheTulsaPerformingArtsCenter,110EastSecondStreet,Tulsa,Oklahoma74103*.DetailsfortheAnnualMeetingofStockholdersarebelow:

* AspartofourprecautionsregardingtheoutbreakofthecoronavirusorCOVID-19,weareplanningforthepossibilitythattheAnnualMeetingmaybeheldsolelybymeansofremotecommunication.Ifwetakethisstep,wewillannouncethedecisiontodosoinadvance,anddetailsonhowtoparticipatewillbeavailableatwww.wpxenergy.com.

IMPORTANTNOTICEREGARDINGAVAILABILITYOFPROXYMATERIALSFORTHEANNUALMEETINGOFSTOCKHOLDERS

TOBEHELDONMAY21,2020:

TheNoticeofInternetAvailabilityofProxyMaterials,NoticeofAnnualMeeting,ProxyStatementandAnnualReportareavailableat

www.edocumentview.com/WPX

TIME 9:30a.m.,CentralDaylightTime,onThursday,May21,2020PLACE RobertJ.LafortuneStudiooftheTulsaPerformingArtsCenter,110EastSecondStreet,Tulsa,Oklahoma74103*ITEMSOFBUSINESS 1. Toelecttendirectornomineesidentifiedinthisproxystatement,onthetermsandconditionsspecified; 2. Toconductanadvisoryvoteonexecutivecompensation; 3. ToratifytheappointmentofErnst&YoungLLPasourindependentauditorsfor2020;and 4. TotransactsuchotherbusinessasmayproperlycomebeforetheAnnualMeetingoranyadjournmentofthemeeting.RECORDDATE YoucanvoteandattendtheAnnualMeetingifyouwereastockholderofrecordatthecloseofbusinessonMarch30,2020.ANNUALREPORT Our2019annualreport,whichincludesacopyofourAnnualReportonForm10-K,accompaniesthisproxystatement.PROXYVOTING ItisimportantthatyoursharesberepresentedandvotedattheAnnualMeeting.WeencourageyoutovotebyInternetortelephone,orcomplete,signandreturn

yourproxypriortothemeetingevenifyouplantoattendtheAnnualMeeting.Ifyoulaterchoosetorevokeyourproxy,youmaydosoatanytimebeforeitisexercisedattheAnnualMeetingbyfollowingtheproceduresdescribedunderQuestion12ofthe"QuestionsandAnswersabouttheAnnualMeetingandVoting"sectionintheattachedproxystatement.

ByOrderoftheBoardofDirectors,

StephenE.BrilzVice President and Corporate Secretary

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TABLEOFCONTENTS

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SUMMARY 1QUESTIONSANDANSWERSABOUTTHEANNUALMEETINGANDVOTING 5PROPOSAL1—ELECTIONOFDIRECTORS 11

Director Nomination Process 11Nominees 14

CORPORATEGOVERNANCE 19Overview 19Corporate Governance Practices 19BoardStructure 19BoardandBoardCommitteesCompositionandPerformance 19GuidelinesandBoardPolicies/Procedures 20IndependentAuditors 22CorporateGovernanceGuidelines 22CodeofBusinessConduct 22DirectorIndependence 22BoardLeadershipStructure 23RiskOversight 24

Executive Officers 25Board Meetings and Annual Meeting Attendance 26Board Committees 26AuditCommittee 27CompensationCommittee 27Nominating,Governance,EnvironmentalandPublicPolicyCommittee 27CommunicationswiththeBoardofDirectors 28

EXECUTIVECOMPENSATION 29Executive Summary 29Compensation Discussion and Analysis 30CompensationPhilosophy 31DeterminationofTotalCompensation 32

Role of the Committee and Board of Directors 32Consideration of 2019 Stockholder Advisory Vote to Approve 2018 Executive Compensation 32Role of the Committee's Independent Compensation Consultant 32Role of Management and Executive Officers 32Competitive Positioning 33Use of Tally Sheets and Wealth Accumulation Analysis 34

ElementsofourCompensationProgram 34Base Salary 34Annual Cash Incentive 35Long-Term Incentives 38Performance-Based Restricted Stock Units 39Vesting of 2017 Performance-Based RSUs 40Time-Based Restricted Stock Awards 41Benefits and Limited Perquisites 41

OtherCompensationPractices 42Stock Ownership Guidelines 42Consideration of Risk in Setting Executive Compensation 43Anti-Hedging and Anti-Pledging Policies 44Employment Agreements 44Termination and Severance Arrangements 44

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Change-in-Control 44Accounting and Tax Treatment 46

2020BusinessTransformationAward 472019SummaryCompensationTable 492019Performance-BasedRSUMaximumPotential 492019OutstandingEquityAwards 502019GrantsofPlan-BasedAwards 512019WPXOptionExercisesandStockVested 512019NonqualifiedDeferredCompensation 52Change-in-ControlAgreements 52TerminationScenarios 55CompensationCommitteeReport 55DirectorCompensation 56DirectorCompensationTable 57CEOPayRatio 58

Pay Ratio Methodology 58EQUITYCOMPENSATIONPLANINFORMATION 59PROPOSAL2—ADVISORYVOTEONEXECUTIVECOMPENSATION 60CERTAINRELATIONSHIPSANDTRANSACTIONS 62COMPENSATIONCOMMITTEEINTERLOCKSANDINSIDERPARTICIPATION 63AUDITCOMMITTEEREPORT 64INDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM 66PROPOSAL3—RATIFICATIONOFINDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM 67SECURITYOWNERSHIPOFCERTAINBENEFICIALOWNERSANDMANAGEMENT 68SECTION16(a)BENEFICIALOWNERSHIPREPORTINGCOMPLIANCE 70OTHERMATTERSATMEETING 70

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SUMMARY

Thissummaryhighlightsinformationcontainedelsewhereinthisproxystatement.Weencourageyoutoreviewtheentireproxystatement.

WearetakingadvantageofrulesoftheSecuritiesandExchangeCommission,or"SEC,"thatallowustodeliverproxymaterialstoourstockholdersontheInternet.Undertheserules,wearesendingmostofourstockholdersabriefnoticeregardingtheInternetavailabilityofproxymaterialsinsteadofafullsetofproxymaterials.Ifyoureceivethisbriefnotice,or"Notice,"youwillnotreceiveprintedcopiesoftheproxymaterialsunlessyouspecificallyrequestthem.Instead,thisNoticetellsyouhowtoaccessandreviewontheInternetalloftheimportantinformationcontainedintheproxymaterials,includingourannualreporttostockholders.ThisNoticealsotellsyouhowtosubmityourproxycardontheInternetandhowtorequesttoreceiveaprintedcopyoftheproxymaterials.

Weexpecttomail,orprovidenoticeandelectronicdeliveryof,thisproxystatement,ourannualreportandaccompanyingproxycardtostockholdersbeginningonoraboutApril7,2020.Unlessthecontextotherwiserequires,theterms"WPXEnergy,""WPX,"the"Company,""us,""we,"and"our"includeWPXEnergy,Inc.anditsconsolidatedsubsidiaries.

WPXEnergy,Inc.

Weareanindependentoilandnaturalgasexplorationandproductioncompanyengagedintheexploitationanddevelopmentoflong-lifeunconventionalproperties.Our2019AnnualReport,whichaccompaniesthisproxystatement,providesacomprehensivedescriptionofourbusiness.

CorporateGovernance

WPXEnergyiscommittedtomeetinghighstandardsofethicalbehavior,corporategovernanceandbusinessconductineverythingwedo.Consistentwiththiscommitment,wehaveadoptedthefollowingpractices:

• Board Structure and Composition.Alldirectors,otherthanourChairmanandChiefExecutiveOfficerandourPresidentandChiefOperatingOfficer,areindependent.TheindependentdirectorshavedesignatedaLeadDirectorwhoischargedwiththeresponsibilitiessetforthintheLeadDirectorCharterthatisavailableonourwebsiteatwww.wpxenergy.com.

• Diversity Policy for Director Candidates.Whenselectingdirectorcandidates,ourBoardtakesdiversityintoaccountandseekstoensurearepresentationofvariedperspectivesandexperiences.Throughitssuccessionplanningprocess,theBoardreviewstheskillsandelementsofdiversity(includingsuchareasasgeography,race,gender,ethnicityandage)foralldirectorstoensurethatourBoardmembersrepresenttheappropriatemixofrelevantskills,perspectivesandexperiences.

• Stockholder Outreach and Engagement.TheCompanyregularlyengageswithstockholders,includingwithrespecttocorporategovernance,environmentalandcompensationmatters.ThishasledinrecentyearstoanumberofenhancementsintheCompany'sgovernance,compensationanddisclosurepractices,including:

• TheBoardactedtodeclassifytheBoard,sothatdirectorsareelectedannually.

• TheBoardhasenhanceditsdisclosureregardingtheskillsandqualificationsofeachdirectornominee,consistentwithrecentcorporategovernanceinitiatives.

• TheCompanyhaspublishedandpostedtoitswebsite(www.wpxenergy.com)anEnvironmental,SocialandGovernanceReport,or"ESGReport,"thatdescribesthe

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Company'seffortstobearesponsiblestewardoftheenvironmentandtotakeintoaccounttheinterestsofthecommunitieswhereweoperateandotherstakeholders.

• TheBoardhasactivelytakenstepstoimproveitsdiversity.

• Stock Ownership Guidelines.Ourdirectorsandexecutiveofficersaresubjecttostockownershipguidelinesthataligntheirinterestswiththoseofourstockholders,andalldirectorsandofficersareincompliancewiththeretentionrequirementsunderthoseguidelines.

• Recoupment Policy.WehavearecoupmentpolicythatrequirestheCompanytorecoverallperformance-basedincentivepaymentsfromseniorexecutives,includingallofournamedexecutiveofficers,foundbytheBoardofDirectorstobepersonallyresponsibleforthefraudorintentionalmisconductresultinginasignificantrestatementoftheCompany'sfinancialstatements.Inaddition,wewillseekrecoupmentfromallotherexecutiveofficersofanyamountspaidinexcessoftheawardthatwouldhavebeenpaidbasedontherestatedfinancialresults.See"Compensation Discussion and Analysis—Other Compensation Practices—Recoupment Policy"below.

• Independent Compensation Consultant.OurCompensationCommitteeusesanindependentcompensationconsultant,whichperformsnoconsultingorotherservicesfortheCompany.

• Environmental Policy.Wehaveanenvironmentalhealthandsafetypolicythatoutlinesourfocusonintegratingenvironmental,healthandsafetystewardshipintoourcorebusinessactivities.Consistentwiththispolicy,wetakereasonableandactivestepstodeployeffectiveflaringsolutionsandminimizemethaneemissionsfromouroperations.

• Transactions in Company Securities (Anti-Hedging Policy).Ourinsidertradingpolicyprohibitsshortsalesofsharesofourcommonstockbydirectorsandexecutiveofficers.Italsoprohibitstheuseofequivalentderivativesecuritiesthatwouldhavetheeffectofinsulatinginsidersfromanydownturninthevalueofourcommonstock.

• Anti-Pledging Policy.Ourinsidertradingpolicyprohibitsourdirectors,officers,andkeyemployeesfromholdingoursecuritiesinamarginaccountorusingsuchsecuritiesascollateralforaloan.

• ESG Oversight.InFebruary2019,theBoardamendedtheCharteroftheNominatingandGovernanceCommittee,redesignatingittheNominating,Governance,EnvironmentalandPublicPolicyCommittee.UnderitsrevisedCharter,thecommitteeprovidesfurtherassistancetotheBoardinitsoversightofenvironmental,safetyandpublicpolicymatters.

Enterprise-WideRiskOversight

OurBoardofDirectors,assistedbyitscommittees,overseesmanagement'senterprise-wideriskmanagementactivities.Riskmanagementactivitiesincludeassessingandtakingactionsnecessarytomanageriskincurredinconnectionwiththelong-termstrategicdirectionandoperationofourbusiness.

ExecutiveCompensation

OurCompensationCommitteestrivestoestablishandmaintainanexecutivecompensationprogramthatwillattract,engage,reward,andretainhighlyeffectiveexecutiveofficers,rewardsuperiorperformance,andprovideincentivestodriveresultsthatincreasestockholdervalue.Ourcompensationprogramincludesamixofbasesalary,anannualcashincentive,performance-basedrestrictedstockunits,equityawards,andbenefitsandlimitedperquisitestoachievethisresult.Weemphasizeperformance-basedrewardsandtheuseofequity,whichdirectlyalignsourexecutiveswith

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stockholders.Executivepayistiedtoperformancemetricsthatencompassbothshort-andlong-termgoalsandencourageprofitablegrowthwhilediscouragingexcessiverisk-taking.

Highlights of our Executive Compensation Program

• Pay for Performance—Asignificantportionofthecompensationopportunityforourexecutiveofficersvariesbaseduponachievementofannualorlong-termgoalslinkedtostockholdervalue

• Increase Stockholder Value—Weusebalancedperformancemetricstoencourageoperationalperformancewhilediscouragingexcessiverisk-taking

• Align Executive Officers with Stockholders—Executivecompensationopportunitiesareweightedtowardequityawardsthatalignourexecutiveofficerswiththelong-terminterestsofourstockholders

Informationregardingcompensationpaidtoeachofournamedexecutiveofficersin2019isdescribedinthe"CompensationDiscussionandAnalysis"below.

Summary of 2019 Compensation Decisions Made for Our CEO

• Base Salary—$950,000

• Annual Cash Incentive—$1,806,969,paidat159.8%oftarget

• Equity Awards—$7,500,000,grant-dayintendedvalueoftime-basedrestrictedstockaward("RSAs")andperformance-basedrestrictedstockunits("RSUs")

Strong Governance Standards in Oversight of Executive Compensation Policies

Wemaintainstronggovernancestandardsintheoversightofourexecutivecompensationpoliciesandpractices,including:

• anindependentCompensationCommitteethatengagesanindependentadvisor

• stockownershipguidelinestoencourageourexecutiveofficerstohaveasignificantstakeinourlong-termsuccess

• performance-basedcompensationusingbalancedperformancemetricsandperformance-basedequityawardscappedat100%oftargetifourtotalshareholderreturnisnegative

• double-triggerchange-in-controlagreementsandequityawards

• noexcisetaxgross-upsandlimitedperquisites

• aprohibitiononbackdatingstockoptionsandonrepricingwithoutstockholderapproval

• arecoupmentpolicythatrequiresrecoveryofallperformance-basedincentivepaymentsfromanyexecutiveofficersfoundbytheBoardofDirectorstobepersonallyresponsibleforfraudorintentionalmisconductthatcausestheneedforasignificantfinancialrestatementandrecoupmentfromallotherexecutiveofficersofanyamountspaidinexcessoftheawardthatwouldhavebeenpaidbasedontherestatedfinancialresults

• aprohibitionon:

• shortsalesofourcommonstock

• theuseofequivalentderivativesecuritiesthatwouldhavetheeffectofinsulatinginsidersfromanydownturninthevalueofourcommonstock

• margintradinginourstockbydirectorsandexecutiveofficers

• pledgingofourstockbydirectorsandexecutiveofficers

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Proposals

Proposal1—ElectionofDirectors(seepages11-19)

TheBoardhasnominatedtencandidatesforelectiontoourBoardofDirectors.TheBoardrecommendsthatstockholdersvoteFORtheelectionofeachnominee.

Proposal2—AdvisoryVotetoApprovetheCompany'sExecutiveCompensation(seepages60-61)

TheBoardisseekinganadvisoryvotetoapprovetheCompany'sexecutivecompensation.Beforeconsideringthisproposal,pleasereadourCompensationDiscussionandAnalysis,whichexplainstheCompensationCommittee'scompensationdecisionsandhowourexecutivecompensationprogramalignstheinterestsofourexecutiveofficerswiththoseofourstockholders.AlthoughthevoteisadvisoryandisnotbindingontheBoard,theCompensationCommitteewilltakeintoaccounttheoutcomeofthevotewhenconsideringfutureexecutivecompensationdecisions.Forthereasonsdiscussedinthisproxystatement,theBoardrecommendsthatstockholdersvoteFORtheapprovaloftheCompany'sexecutivecompensation.

Proposal3—RatificationofIndependentRegisteredPublicAccountingFirm(seepage67)

TheAuditCommitteehasappointedErnst&YoungLLPasourindependentregisteredpublicaccountingfirmfortheyearendingDecember31,2020.TheBoardisseekingstockholderratificationofthisappointment.TheBoardrecommendsthatstockholdersvoteFORratificationoftheselectionofErnst&YoungLLP.

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QUESTIONSANDANSWERSABOUTTHEANNUALMEETINGANDVOTING

1.WhatisthepurposeoftheAnnualMeeting?

AttheAnnualMeeting,stockholderswillactuponthemattersoutlinedintheNoticeofAnnualMeetingofStockholders.Theseincludetheelectionofdirectors,anadvisoryvotetoapproveourexecutivecompensationandtheratificationoftheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirm.ManagementandrepresentativesofErnst&YoungLLPwillbeavailabletorespondtoquestionsfromstockholders.

2.Whatisaproxy?

Itisyourlegaldesignationofanotherpersontovotethestockyouowninthemanneryoudirect.Thatotherpersoniscalledaproxy.Ifyoudesignatesomeoneasyourproxyinawrittendocument,thatdocumentalsoiscalledaproxyoraproxycard.WehavedesignatedDennisC.CameronandStephenE.BrilztoserveasproxiesfortheAnnualMeeting.TheBoardofDirectorswillusetheproxiesatthe2020AnnualMeetingofStockholders.Theproxiesalsomaybevotedatanyadjournmentsorpostponementsofthemeeting.

3.Whatisaproxystatement?

ItisadocumentwegiveyouwhenwearesolicitingyourvotepursuanttoSECregulations.

4.Whatisthedifferencebetweenastockholderofrecordandastockholderwhoholdsstockinstreetname?

Stockholders of Record. Ifyoursharesareregisteredinyournamewithourtransferagent,Computershare,youareastockholderofrecordwithrespecttothosesharesandtheNoticeortheproxymaterialsweresentdirectlytoyoubyComputershare.

Street Name Holders. Ifyouholdyoursharesinanaccountatabankorbroker,thenyouarethebeneficialownerofsharesheldin"streetname."TheNoticeorproxymaterialswereforwardedtoyoubyyourbankorbroker,whoisconsideredthestockholderofrecordforpurposesofvotingattheAnnualMeeting.Asabeneficialowner,youhavetherighttodirectyourbankorbrokeronhowtovotethesharesheldinyouraccount.

5.HowmanysharesmustbepresenttoholdtheAnnualMeeting?

InordertoconducttheAnnualMeeting,holdersofamajorityofthesharesentitledtovoteasofthecloseofbusinessontherecorddatemustbepresentinpersonorbyproxy.Thisconstitutesaquorum.YoursharesarecountedaspresentifyouattendtheAnnualMeetingorifyoursharesarerepresentedbyproxy.Abstentionsandbrokernon-voteswillbecountedaspresentforpurposesofestablishingaquorum.Ifaquorumisnotpresent,wewilladjourntheAnnualMeetinguntilaquorumisobtained.

6.HowcanIaccesstheproxymaterialsfortheAnnualMeeting?

Stockholdersmayaccesstheproxymaterials,whichincludetheNoticeofInternetAvailabilityofProxyMaterials,theNoticeofAnnualMeetingofStockholders,ProxyStatementandAnnualReportfortheyearendedDecember31,2019ontheInternetatwww.edocumentview.com/WPX.WewillalsoprovideahardcopyofanyofthesedocumentsfreeofchargeuponrequestassetforthintheNoticeofInternetAvailabilityofProxyMaterialsorbywritingusat:WPXEnergy,Inc.,3500OneWilliamsCenter,Tulsa,Oklahoma74172,Attention:CorporateSecretary.

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Insteadofreceivingfuturecopiesofourproxymaterialsbymail,youcanelecttoreceiveane-mailthatwillprovideelectroniclinkstothesedocuments.Optingtoreceiveyourproxymaterialsonlinewillsavethecostofproducingandmailingdocumentstoyourhomeorbusiness,willgiveyouanelectroniclinktotheproxyvotingsiteandwillalsohelppreserveenvironmentalresources.

Stockholders of Record. IfyouvoteontheInternetatwww.envisionreports.com/WPX,simplyfollowthepromptsforenrollingintheelectronicproxydeliveryservice.Youalsomayenrollintheelectronicproxydeliveryserviceatanytimebygoingdirectlytowww.envisionreports.com/WPXandfollowingtheenrollmentinstructions.

Street Name Holders. Ifyouholdyoursharesinabankorbrokerageaccount,youmayalsohavetheopportunitytoreceivetheproxymaterialselectronically.Pleasechecktheinformationprovidedintheproxymaterialsyoureceivefromyourbankorbrokerregardingtheavailabilityofthisservice.

7.HowdoIattendtheAnnualMeeting?WhatdoIneedtobring?

AllstockholdersasoftheRecordDatemayattend.Pleasebringtothemeeting:

Proof of Ownership,suchasacopyofyourNoticeorproxycard,oracopyofabrokerageorbankstatementshowingyourshareownershipasoftheRecordDate;and

Proof of Identification,suchasavaliddriver'slicenseorpassport.

Ifyouholdyoursharesinstreetname,youwillnotbeabletovoteyoursharesattheAnnualMeetingwithoutalegalproxy,asdescribedinQuestion8.

Pleasenotethatuseofcameras,phonesorothersimilarelectronicdevicesandthebringingoflargebags,packagesorsoundorvideorecordingequipmentwillnotbepermittedinthemeetingroom.Attendeeswillalsoberequiredtocomplywithrulesoforderandprocedurethatwillbeavailableatthemeeting.

AspartofourprecautionsregardingtheoutbreakofthecoronavirusorCOVID-19,weareplanningforthepossibilitythattheAnnualMeetingmaybeheldsolelybymeansofremotecommunication.Ifwetakethisstep,wewillannouncethedecisiontodosoinadvance,anddetailsonhowtoparticipatewillbeavailableatwww.wpxenergy.com.

8.HowcanIvoteattheAnnualMeetingifIownsharesinstreetname?

Ifyouareastreetnameholder,youmaynotvoteyoursharesattheAnnualMeetingunlessyouobtainalegalproxyfromyourbankorbroker.Alegalproxyisabank'sorbroker'sauthorizationforyoutovotethesharesitholdsinitsnameonyourbehalf.Toobtainalegalproxy,pleasecontactyourbankorbrokerforfurtherinformation.

9.WhatsharesareincludedontheNotice,proxycardorvotinginstructionform?

Ifyouareastockholderofrecord,youwillreceiveonlyoneNoticeorproxycardforallthesharesofcommonstockyouhold:

• incertificateform;and

• inbook-entryform.

IfyouholdsharesinourEmployeeStockPurchasePlan,youwillreceiveaseparateNoticeorproxycardapplicabletothoseshares.

Ifyouholdyoursharesinstreetname,youwillreceiveoneNoticeorvotinginstructionformforeachaccountyouhavewithabankorbroker.Ifyouholdsharesinmultipleaccounts,youmayneedtoprovidevotinginstructionsforeachaccount.

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10.WhatdifferentmethodscanIusetovote?

ByWrittenProxy.Allstockholdersofrecordwhoreceivedproxymaterialsbymailcanvotebywrittenproxycard.IfyoureceivedaNoticeortheproxymaterialselectronically,youmayrequestaproxycardatanytimebyfollowingtheinstructionsontheNoticeoronthevotingwebsite.Ifyouareastreetnameholder,youwillreceiveinstructionsonhowyoumayvotefromyourbankorbroker,unlessyoupreviouslyenrolledinelectronicdelivery.

ByTelephoneorInternet.AllstockholdersofrecordcanvotebytelephonefromtheU.S.andCanada,usingthetoll-freetelephonenumberontheproxycard,orthroughtheInternetusingtheproceduresandinstructionsdescribedontheNoticeorproxycard.StreetnameholdersmayvotebyInternetortelephoneiftheirbankorbrokermakesthosemethodsavailable,inwhichcasethebankorbrokerwillenclosetheinstructionswiththeproxymaterials.TheInternetandtelephonevotingproceduresaredesignedtoauthenticatestockholders'identities,allowstockholderstovotetheirsharesandtoconfirmthattheirinstructionshavebeenproperlyrecorded.

InPerson.AllstockholdersofrecordmayvoteinpersonattheAnnualMeeting.StreetnameholdersmayvoteinpersonattheAnnualMeetingiftheyhavealegalproxy,asdescribedinQuestion8.

TheNoticeisnotaproxycardanditcannotbeusedtovoteyourshares.

11.Whatistherecorddateandwhatdoesitmean?

TherecorddatefortheAnnualMeetingisMarch30,2020.OnlyownersofrecordofsharesofcommonstockoftheCompanyatthecloseofbusinessontherecorddateareentitledtonoticeofandtovoteattheAnnualMeeting,oratanyadjournmentsorpostponementsoftheAnnualMeeting.OnMarch30,2020,therewere559,364,806sharesofcommonstockissued,outstandingandentitledtovote.Eachownerofrecordontherecorddateisentitledtoonevoteforeachshareofcommonstockheld.

TherecorddatewasestablishedbyourBoardofDirectorsasrequiredbytheGeneralCorporationLawoftheStateofDelaware.Ownersofrecordofcommonstockatthecloseofbusinessontherecorddateareentitledto:

• receivenoticeoftheAnnualMeeting;and

• voteattheAnnualMeetingandanyadjournmentsorpostponementsoftheAnnualMeeting.

12.IfIsubmitaproxy,mayIlaterrevokeitand/orchangemyvote?

Stockholdersmayrevokeaproxyand/orchangetheirvotepriortothecompletionofvotingattheAnnualMeetingby:

• signinganotherproxycardorvotinginstructionformwithalaterdateanddeliveringittotheCorporateSecretarybeforetheAnnualMeeting;

• votingagainovertheInternetorbytelephonepriorto11:59p.m.,EasternTime,onMay20,2020(or,ifyouareastreetnameholder,suchearliertimeasyourbankorbrokermaydirect);

• votingattheAnnualMeetingifyouareastockholderofrecordorareastreetnameholderthathasobtainedalegalproxyfromyourbankorbroker;or

• notifyingtheCorporateSecretaryoftheCompanyinwritingbeforetheAnnualMeeting.

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13.Arevotesconfidential?Whocountsthevotes?

Weholdthevotesofallstockholdersinconfidencefromdirectors,officersandemployeesexcept:

• asnecessarytomeetapplicablelegalrequirementsandtoassertordefendclaimsorpotentialclaimsfororagainsttheCompany;

• incaseofacontestedorpotentiallycontestedproxysolicitation;

• ifastockholdermakesawrittencommentontheproxycardorotherwisecommunicateshisorhervotetomanagement;or

• toallowtheindependentinspectorsoftheelectiontocertifytheresultsofthevote.

WehaveretainedComputersharetotabulatethevotesandactasindependentinspectoroftheelection.

14.Whataremychoiceswhenvotingfordirectornomineesandwhatvoteisneededtoelectdirectors?

Inthevoteontheelectionofdirectornominees,stockholdersmay:

• voteinfavorofanominee;

• voteagainstanominee;or

• abstainfromvotingwithrespecttoanominee.

DirectorswillbeelectedattheAnnualMeetinguponreceiptofmorevotescast"for"than"against"hisorherelection;abstentionswillnotcountasvotescastwithrespecttoadirector'selection.OurCorporateGovernanceGuidelinesrequiresalldirectorstotender,promptlyaftertheirelection,irrevocableresignationsfromtheBoardofDirectorsthatwillbeeffectiveifthedirectordoesnotreceiveagreaternumberofvotes"for"than"against"hisorherelectioninanuncontestedelection.Underthispolicy,theBoardofDirectorswilldeterminewhethertoacceptorrejecttheoffertoresignandpubliclydiscloseitsdecisionwithin90daysfromthedateofthecertificationoftheelectionresults.ThetextofthispolicyappearsinourCorporateGovernanceGuidelines,whichareavailableonourwebsiteatwww.wpxenergy.com.

TheBoardofDirectorsrecommendsavoteFOReachofthenominees.

15.WhataremychoiceswhenvotingoneachoftheotherproposalsconsideredattheAnnualMeeting?

Foreachoftheotherproposalsstockholdersmay:

• votefortheproposal;

• voteagainsttheproposal;or

• abstainfromvotingontheproposal.

16.WhatistheBoard'srecommendationwithregardtoeachproposal?

TheBoardofDirectorsmakesthefollowingrecommendationwithregardtoeachproposal:

• TheBoardofDirectorsrecommendsavoteFOReachofthedirectornominees.

• TheBoardofDirectorsrecommendsavoteFORadvisoryapprovaloftheCompany'sexecutivecompensation.

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• TheBoardofDirectorsrecommendsavoteFORratificationoftheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirm.

17.Whatvoteisneededtoapproveeachproposal?

PleaseseeQuestion14regardingthevotethatisneededfortheelectionofdirectors.

EachoftheremainingproposalsmustbeapprovedbytheholdersofamajorityofthesharespresentandentitledtovoteinpersonorbyproxyattheAnnualMeetinginordertopass.TheBoardofDirectorswillconsidertheresultoftheadvisoryvotetoapproveourexecutivecompensationwhenconsideringfutureexecutivecompensationdecisions.

18.WhatifIdonotspecifyachoiceforamatterwhenreturningaproxy?

StockholdersshouldspecifytheirchoiceforeachmatterinthemannerdescribedintheNoticeorontheirproxycard.Ifnospecificinstructionsaregiven,proxiesthataresignedandreturnedwillbevoted:

• FORtheelectionofalldirectornominees;

• FORtheadvisoryapprovalofourexecutivecompensation;

• FORtheratificationoftheappointmentofErnst&YoungLLPastheCompany'sindependentregisteredpublicaccountingfirm.

19.AremysharesvotedifIdonotprovideaproxy?

Ifyouareastockholderofrecordanddonotprovideaproxy,youmustattendtheAnnualMeetinginordertovote.Ifyouholdsharesthroughanaccountwithabankorbroker,yoursharesmaybevotedbythebankorbrokeronsomemattersifyoudonotprovidevotinginstructions.BanksandbrokershavetheauthorityunderNewYorkStockExchange("NYSE")rulestovotesharesforwhichtheircustomersdonotprovidevotinginstructionsonroutinematters.TheratificationofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmisconsideredaroutinematter.Theelectionofdirectorsandthevotesontheothermattersdescribedinthisproxystatementarenotconsideredroutineandbanksandbrokerscannotvoteshareswithoutinstructiononthosematters.Sharesthatbanksandbrokersarenotauthorizedtovotearecountedas"brokernon-votes."

20.Howareabstentionsandbrokernon-votescounted?

Abstentionshavenoeffectontheelectionofdirectors,asonly"for"and"against"votesarecounted.Abstentionshavetheeffectofan"AGAINST"voteontheproposalseekingadvisoryapprovalofourexecutivecompensationandtheratificationoftheappointmentoftheCompany'sindependentregisteredpublicaccountingfirm.Brokernon-voteswillbetreatedasnotpresentandnotentitledtovote.

21.DoestheCompanyhaveapolicyaboutdirectors'attendanceattheAnnualMeetingofStockholders?

TheCompanyexpectsdirectorstoattendtheAnnualMeeting,absentacompellingreason.

22.Whatarethedeadlinesforsubmittingstockholderproposalsforthe2021AnnualMeeting?

Stockholder Proposals to Be Considered for Inclusion in the Company's Proxy Materials. Tobeconsideredforinclusioninourproxystatementforour2021AnnualMeeting,stockholderproposalssubmittedinaccordancewiththeSEC'sRule14a-8mustbereceivednotlaterthanDecember8,2020andbesubmittedinaccordancewiththeSEC'sRule14a-8.Stockholderproposalsreceivedafterthe

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closeofbusinessonDecember8,2020wouldbeuntimely.ThesestockholderproposalsmustbeinwritingandreceivedbythedeadlinedescribedaboveatourprincipalexecutiveofficesatWPXEnergy,Inc.,3500OneWilliamsCenter,Tulsa,Oklahoma74172,Attention:CorporateSecretary.Ifwedonotreceiveastockholderproposalbythedeadlinedescribedabove,theproposalmaybeexcludedfromourproxystatementforour2021AnnualMeeting.

Other Stockholder Proposals for Presentation at the 2020 Annual Meeting. Astockholderproposalthatisnotsubmittedforinclusioninourproxystatementforour2021AnnualMeeting,butisinsteadsoughttobepresentedatthe2021AnnualMeeting,mustcomplywiththe"advancenotice"deadlinesinourBylaws.Assuch,thesestockholderproposalsmustbereceivednoearlierthanJanuary21,2021,andnolaterthanthecloseofbusinessonFebruary19,2021.Thesestockholderproposalsmustbeinwritingandreceivedwithinthe"advancenotice"deadlinesdescribedaboveatourprincipalexecutiveofficesatWPXEnergy,Inc.,3500OneWilliamsCenter,Tulsa,Oklahoma74172,Attention:CorporateSecretary.ThesestockholderproposalsmustbeintheformprovidedinourBylawsandmustincludetheinformationsetforthintheBylawsaboutthestockholderproposingthebusinessandanyassociatedperson,includinginformationaboutthedirectandindirectownershipoforderivativepositionsintheCompany'scommonstockandarrangementsandunderstandingsrelatedtotheproposedbusinessorthevotingoftheCompany'scommonstock.Ifwedonotreceiveastockholderproposalandtherequiredinformationregardingthestockholderandanyassociatedpersonbythe"advancenotice"deadlinesdescribedabove,theproposalmaybeexcludedfromtheproxystatementandfromconsiderationatthe2021AnnualMeeting.The"advancenotice"requirementdescribedabovesupersedesthenoticeperiodinSECRule14a-4(c)(1)ofthefederalproxyrulesregardingthediscretionaryproxyvotingauthoritywithrespecttosuchstockholderbusiness.

23.Howareproxiessolicitedandwhatisthecost?

Webearallexpensesincurredinconnectionwiththesolicitationofproxies.WehaveengagedGeorgesontoassistwiththesolicitationofproxiesforafeeof$4,000plusexpenses.Wewillreimbursebrokers,fiduciariesandcustodiansfortheircostsinforwardingproxymaterialstobeneficialownersofcommonstock.

Ourdirectors,officersandemployeesmayalsosolicitproxiesbymail,telephoneandpersonalcontact.Theywillnotreceiveanyadditionalcompensationfortheseactivities.

24.WherecanIfindmoreinformationaboutmyvotingrightsasastockholder?

TheSEChasaninformationalwebsitethatprovidesstockholderswithgeneralinformationabouthowtocasttheirvoteandwhyvotingshouldbeanimportantconsiderationforstockholders.Youmayaccessthatinformationatwww.sec.gov/spotlight/proxymatters.shtmloratwww.investor.gov.

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PROPOSAL1—ELECTIONOFDIRECTORS

DirectorNominationProcess

CriteriaforNominationtotheBoard

TheCharteroftheNominating,Governance,Environment&PublicPolicyCommittee,orthe"NGEPPCommittee,"whichisavailableonourwebsiteatwww.wpxenergy.comunder"Investors"and"CorporateGovernance,"providesthattheNGEPPCommitteemustdevelopandrecommendtotheBoardqualificationsforassessingdirectorcandidatesandidentifyandrecommendtotheBoardindividualsfornominationasBoardmembers.

OurCorporateGovernanceGuidelinessetforthcriteriaforindependentdirectornominees.TheNGEPPCommitteeevaluatespotentialBoardnomineesagainstthesecriteriaindeterminingwhethertorecommendanypotentialnomineeforconsiderationforelectionasamemberoftheBoard.Thesecriteriaincludethefollowing:

• Anunderstandingofbusinessandfinancialaffairsandthecomplexitiesofabusinessorganization.Althoughacareerinbusinessisnotessential,thenomineeshouldhaveaprovenrecordofcompetenceandaccomplishmentsthroughleadershipinindustry,education,theprofessionsorgovernment,andshouldbewillingtomaintainacommittedrelationshipwiththeCompanyasadirector.

• AgenuineinterestinrepresentingallofthestockholdersandtheinterestoftheCompanyoverall.

• Awillingnessandabilitytospendthenecessarytimetofunctioneffectivelyasadirector.

• Anopen-mindedapproachtomattersandtheresolvetoindependentlyanalyzematterspresentedforconsideration.

• Areputationforhonestyandintegritybeyondquestion.

• IndependenceasdefinedbytheNYSE,andqualificationsotherwiserequiredinaccordancewithapplicablelaworregulation.

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Thefollowingtablehighlightseachdirectornominee'sspecificskills,knowledgeandexperiences.Aparticulardirectormaypossessadditionalskills,knowledgeorexperienceeventhoughtheyarenotlistedbelow.Eachdirectorbiographybelowdescribestheskillsandexperiencesofdirectorsindetail.

TheNGEPPCommitteeroutinelyevaluatesthecompositionoftheBoardtoassesstheskillsandexperiencethatarecurrentlyrepresentedontheBoard,aswellastheskillsandexperiencetheBoardwillfindvaluableinthefuture,giventheCompany'scurrentsituationandstrategicplans.TheNGEPPCommitteeseeksavarietyofoccupationalandpersonalbackgroundsontheBoardinordertoobtainarangeofviewpointsandperspectivesandtoenhancethediversityoftheBoardinsuchareasasrace,gender,ethnicityandage.ThisassessmentenablestheBoardtoupdate,ifnecessary,theskillsandexperienceitseeksintheBoardasawhole,andinindividualdirectors,astheCompany'sneedsevolveandchangeovertime.

ProcessforIdentifyingandEvaluatingNominees

InconsideringpotentialcandidatestotheBoardwhoarenotincumbentdirectors,theNGEPPCommittee,withinputfromthefullBoardofDirectors,assessesthepotentialcandidate'squalifications,takingintoaccountthecriterialistedabove,andhowthesequalificationsfitwiththedesiredcompositionoftheBoardofDirectorsasawhole.

Inthecaseofincumbentdirectors,inadditiontothecriterialistedabove,theNGEPPCommitteereviewsthedirectors'overallperformanceontheBoardofDirectorsandotherrelevantfactors.

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JohnCarrig

ClayGaspar

RobertHerdman

KeltKindick

KarlKurtz

KimberlyLubel

RichardMuncrief

MartinPhillips

DouglasSwanson

ValarieWilliams

E&POperations ü ü ü ü OtherOil&GasOperations ü ü ü ü Health&Safety ü ü ü ü Engineering ü ü ü Geoscience ü ü ü Environmental ü ü ü ü Oil&GasRegulatory ü ü ü ü ü AuditingandFinancialReporting ü ü ü ü ü ü üCapitalMarketsandCorporateFinance ü ü ü ü ü ü üMarketing ü ü ü ü ü LegalExpertise ü ü FinancialAnalysisExpertise ü ü ü ü ü ü üInvestmentBanking/M&A ü ü ü ü ü CorporateGovernance ü ü ü ü ü ü ü ü ü üRiskManagement ü ü ü ü ü ü ü ü üHumanResourcesandCompensation ü ü ü ü ü ü ü üPublicPolicy ü ü ü ü ü ü StrategicPlanningandStrategyDevelopment ü ü ü ü ü ü ü ü ü üGovernmentExperience ü ü Digitaland/orInformationTechnologyOversight ü

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StockholderRecommendationsforNominees

TheNGEPPCommitteewillconsidernomineesrecommendedbyourstockholders.AnystockholderwishingtoproposeanomineeforconsiderationbytheNGEPPCommitteeshouldsubmitarecommendationinwritingtoourCorporateSecretaryatourprincipalexecutiveoffice,indicatingthenominee'squalificationsandotherrelevantbiographicalinformationandprovidingconfirmationofthenominee'sconsenttoserveasadirector.TheNGEPPCommitteedoesnotintendtoalteritscriteriaforevaluatingpotentialdirectorcandidates,includingthecriteriasetforthabove,inthecaseofdirectorcandidatesrecommendedbystockholders.TheNGEPPCommitteeperiodicallyconsidersrecommendationsfordirectorcandidates.

Ifyouwishtosubmitadirectornominationatafutureannualmeeting,youmustsupplytimelywrittennoticetotheCorporateSecretary.Forthe2021AnnualMeeting,thisnoticemustbereceivedatourprincipalexecutiveoffices,directedtotheCorporateSecretary,noearlierthanJanuary21,2021,andnolaterthanFebruary19,2021.ThenoticemustincludetheinformationsetforthintheBylawsabouteachproposednominee,including:(i)thename,age,businessaddress,residenceaddressandprincipaloccupationoremployment,businessexperienceduringthepastfiveyearsandanyotherdirectorshipsofpubliccompaniescurrentlyheldorheldduringthelastfiveyears,(ii)thenumberofsharesoftheCompany'scommonstockwhicharebeneficiallyowned,and(iii)otherinformationconcerningthenomineeaswouldberequiredinsolicitingproxiesfortheelectionofthatnominee.ThenoticemustalsoincludetheinformationsetforthintheBylawsaboutthestockholdermakingthenominationandanyassociatedperson,includinginformationaboutthedirectandindirectownershipoforderivativepositionsintheCompany'scommonstockandarrangementsandunderstandingsrelatedtotheproposednominationorthevotingoftheCompany'scommonstock.ThenoticemustalsoincludeasignedconsentofeachnomineetobenamedintheproxystatementasanomineeandtoserveasadirectoroftheCompanyifelected.Ifwedonotreceiveanoticeandtherequiredinformationregardingthenominee,thestockholderandanyassociatedpersonbythedeadlinedescribedabove,theproposednomineemaybeexcludedfromconsiderationbytheNGEPPCommittee.TheNGEPPCommitteewillonlyevaluatestockholder-recommendedcandidatesifthoserecommendationsmeettherequirementsdescribedinthisproxystatementandourBylaws.

2020DirectorNominees

ThefirstproposalforconsiderationattheAnnualMeetingistheelectionofeachofthetencandidatesnamedbelowasadirectorforaone-yeartermexpiringatour2021AnnualMeeting,oruntilhisorhersuccessorisdulyelectedandqualified,oruntilhisorherearlierretirement,resignation,disqualification,removalordeath.Messrs.HenryE.LentzandDavidF.Work,currentdirectors,willretirefromtheBoardattheAnnualMeeting.EffectiveimmediatelyfollowingtheclosingofthepollsfortheelectionofdirectorsattheAnnualMeeting,theBoardwillreduceitssizefromtwelvememberstotenmembers.IfanydirectornomineeshouldbecomeunavailableforelectionpriortotheAnnualMeeting,aneventthatcurrentlyisnotanticipatedbytheBoard,eithertheproxieswillbevotedinfavoroftheelectionofasubstitutenomineeornomineesproposedbytheBoardorthenumberofdirectorsmaybereducedaccordingly.Eachnomineehasagreedtoserveifelectedand,subjecttothemattersaddressedunder"StockholdersAgreement"below,theBoardhasnoreasontobelievethatanynomineewillbeunabletoserve.

StockholdersAgreement

AttheclosingofitsacquisitionofFelixEnergyHoldingsII,LLConMarch6,2020,theCompanyenteredintoaStockholdersAgreementwithFelixInvestmentHoldingsII,LLC("FelixHoldings")andcertainrelatedparties("Stockholders Agreement").SubjecttothetermsoftheStockholdersAgreement,FelixHoldingshastherighttodesignateuptotwodirectorstotheBoardwhoarereasonablyacceptabletotheNGEPPCommittee,untilsuchtimethatFelixHoldingsanditsrelatedpartieshold

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lessthan20%ofouroutstandingcommonstock.UntilsuchtimeasFelixHoldingsanditsrelatedpartiesholdlessthan10%ofouroutstandingcommonstock,FelixHoldingshastherighttodesignateonedirectortotheBoardwhoisreasonablyacceptabletotheNGEPPCommittee.IfatanytimethenumberofdirectorsservingontheBoardanddesignatedbyFelixHoldingsexceedsthenumberthatFelixHoldingsisentitledtodesignate,FelixHoldingsmustpromptlycauseoneormoreofitsdesignateddirectorstoresignfromtheBoardunlessotherwiserequestedbytheBoard.FelixHoldingshasdesignatedD.MartinPhillipsandDouglasE.Swanson,Jr.asitsdirectornomineespursuanttotheStockholdersAgreement.Messrs.PhillipsandSwansonhavebeenmembersoftheBoardsinceMarch6,2020.

ForsolongasFelixHoldingsanditsrelatedpartiesremainentitledtodesignatedirectorsundertheStockholdersAgreement,theyhaveagreedtocauseallsharesofcommonstockheldbythemtobevotedinfavorofdirectornomineesnominatedbytheNGEPPCommittee,againstanyotherdirectornominees,andagainsttheremovalofanydirector(otherthanadirectortheyhavedesignatedtotheBoard)unlesstheNGEPPCommitteerecommendsinfavorofsuchremoval.ForadditionalinformationregardingtheStockholdersAgreementandtheobligationsofthepartiesthereto,see"Certain Relationships and Transactions"andacopyoftheStockholdersAgreementincludedasanexhibittoourCurrentReportonForm8-KfiledwiththeSecuritiesandExchangeCommissiononMarch6,2020.

UpontherecommendationoftheNGEPPCommittee,theBoardhasnominatedeachofthedirectorsidentifiedbelowasanomineeforaone-yeartermexpiringatthe2021AnnualMeetingofStockholdersoruntilhisorhersuccessorisdulyelectedandqualified,oruntilhisorherearlierretirement,resignation,disqualification,removalordeath.

TheBoardofDirectorsrecommendsthatyouvoteFORtheelectionofeachofthenominees.ProxieswillbevotedFORtheelectionofeachnomineeunlessyouspecifyotherwise.

Thefollowingpresentsabriefbiographicaldescriptionofeachdirectornominee,aswellasadiscussionofthespecificexperience,qualificationandskillsofeachdirectorthathelpedleadtheBoardtoconcludethateachrespectivedirectorshouldcontinuetoserveasamemberoftheBoard.

Nominees

John A. Carrig. Mr.CarrighasbeenadirectorsinceDecember2011.Mr.CarrigistheformerPresidentandChiefOperatingOfficerofConocoPhillips(alargeintegratedoilcompanywithoperationsinmorethan30countries).HejoinedPhillipsPetroleuminLondonin1978asataxattorney.In1981,hetransferredtoBartlesville,Oklahoma,andwasassociatedwiththecorporatetaxstaffuntil1993whenhejoinedthetreasurygroupasfinancemanager.HewasthennamedAssistantTreasurerofFinance,andin1995heacceptedthepositionofTreasurer.HewasVicePresidentandTreasurerfrom1996to2000whenhewasnamedSeniorVicePresidentandTreasurer.Hewaselected

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Name Age DirectorSinceJohnA.Carrig 68 2011ClayM.Gaspar 48 2019RobertK.Herdman 71 2011KeltKindick 65 2013KarlF.Kurz 58 2014KimberlyS.Lubel 55 2011RichardE.Muncrief 61 2014D.MartinPhillips 66 2020DouglasE.Swanson,Jr. 48 2020ValerieM.Williams 63 2018

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SeniorVicePresidentandChiefFinancialOfficerforPhillipsin2001,apositionhehelduntiltheConocoPhillipsmergeroccurredin2002,atwhichtimehebecameExecutiveVicePresident,Finance,andChiefFinancialOfficerofConocoPhillips.In2008,hewasappointedPresidentandChiefOperatingOfficerofConocoPhillipsandbecameresponsibleforglobaloperations,includingexplorationandproduction,refiningandtransportation,projectdevelopmentandprocurement,andhealth,safetyandenvironmentalmatters.Mr.CarrigservedasPresidentofConocoPhillipsuntilhisretirementinMarch2011.Mr.CarriggraduatedPhiBetaKappawithaB.A.fromRutgersUniversityandreceivedhislawdegreefromTempleUniversity.HealsoholdsanadvancedegreeintaxlawfromNewYorkUniversitySchoolofLaw.Mr.CarrigservedasadirectorofTRCCompanies,Inc.(engineering,consultingandconstructionmanagementservicestotheenergy,environmentalandinfrastructuremarkets)from2012until2017andasadirectorofSkanskaAB(aglobalprojectdevelopmentandconstructioncompany)from2014until2018.HeiscurrentlyadirectorofForumEnergyTechnologies,Inc.(amanufacturerofoilandgasfieldmachineryandequipment).

WebelieveMr.CarrigiswellqualifiedtoserveasamemberofourBoard.Mr.Carrighasmanyyearsofexperienceinourindustry,includingoperating,financialandexecutiveexperience,andwebelievetheseexperiencesarecriticaltohisabilitytoidentify,understandandaddresschallengesandopportunitiesthatweface.

Clay M. Gaspar. Mr.GasparhasservedasadirectoroftheCompanysinceNovember2019andasPresidentandChiefOperatingOfficersinceDecember2017.FromNovember2015untilDecember2017,heservedasSeniorVicePresidentandChiefOperatingOfficer,andfromOctober2014untilNovember2015,heservedasSeniorVicePresidentofOperationsandResourceDevelopment.FromJuly2012untilOctober2014,Mr.GasparservedasVicePresident—Mid-ContinentforNewfieldExplorationCompany.PriortojoiningNewfield,Mr.Gasparspent16yearswithAnadarkoPetroleumCorporationwhereheservedasGeneralManagerofInvestorRelationsfrom2011-2012,GeneralManager,BusinessAdvisorfrom2009-2011andGeneralManager,EastTexasfrom2007-2009.From1996-2007,Mr.GasparservedinvariousengineeringandmanagementpositionsatAnadarko.Mr.GasparstartedhiscareerwithMewbourneOilCompanyasaproductionanddrillingengineerwhereheworkedpart-timeasastudentfrom1991-1995andthenfull-timefrom1995-1996.HeisamemberoftheSocietyofPetroleumEngineersandholdsaBachelorofSciencedegreeinPetroleumEngineeringfromTexasA&MUniversityandaMasterofSciencedegreeinPetroleumandGeosciencesEngineeringfromtheUniversityofTexasatAustinandisaRegisteredProfessionalEngineerinthestateofTexas.Mr.GasparalsoservesontheboardsoftheTulsachapteroftheAmericanHeartAssociation,CatalystMidstreamPartners,LLC,andtheMichiganPotash&SaltCo.AtWPX,healsohasresponsibilityforoverseeingtheCompany'spro-activeESGendeavors,includingsupervisoryauthorityfortheCompany'sESGDirectorrole.

WebelievethatMr.GaspariswellqualifiedtoserveasamemberofourBoard.Mr.Gasparhasmanyyearsofexperienceintheupstreamenergybusiness,andwebelievethatthisexperiencewillbecriticaltohisabilitytoidentify,understandandaddressthechallengesandopportunitiesthatweface.AsPresidentandChiefOperatingOfficer,withintimateknowledgeofourbusinessandoperations,Mr.GasparbringsavaluableperspectivetotheBoard.WealsobelievethatMr.Gaspar'sexperiencewithmanagingtheoperationsofalarge,publiccompanyisadvantageoustous.

Robert K. Herdman. Mr.HerdmanhasbeenadirectorsinceDecember2011.Since2004,Mr.HerdmanhasbeenaManagingDirectorofKaloramaPartnersLLC(aWashington,D.C.consultingfirmspecializinginprovidingadviceregardingcorporategovernance,riskassessment,crisismanagementandrelatedmatters).PriortojoiningKalorama,Mr.HerdmanwastheChiefAccountantoftheSECfromOctober2001toNovember2002.PriortojoiningtheSEC,hewasErnst&Young'sViceChairmanofProfessionalPracticeforitsAssuranceandAdvisoryBusinessServices("AABS")practiceintheAmericasandtheGlobalDirectorofAABSProfessionalPracticeforErnst&YoungInternational.Mr.HerdmanwasalsotheseniorErnst&Youngpartnerresponsibleforthefirm's

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relationshipwiththeSEC,FinancialAccountingStandardsBoardandAmericanInstituteofCertifiedPublicAccountants("AICPA").Mr.HerdmanservedontheAICPA'sSECPracticeSectionExecutiveCommitteefrom1995to2001andasamemberoftheAICPA'sBoardofDirectorsfrom2000to2001.HeholdsaB.S.C.inaccountingfromDePaulUniversity.Mr.HerdmaniscurrentlyontheboardofdirectorsofCumminsInc.(adesignerandmanufacturerofdieselandpowerengines)andischairofitsauditcommittee.PriortoApril2015,heservedontheboardofdirectorsofHSBCFinanceCorporation(formerlyHouseholdInternational,Inc.),HSBCNorthAmericaHoldings,Inc.andHSBCUS,Inc.

WebelieveMr.HerdmaniswellqualifiedtoserveasamemberofourBoard.Mr.Herdmanhassignificantexperienceinfinanceandaccounting,aswellasexperiencerelatedtothecompensationofpubliccompanyexecutives.Webelievetheseexperiencesareimportanttohisabilitytounderstandandaddresschallengesandopportunitiesthatweface.Mr.Herdman'sSECandpublicaccountingexperienceprovidedhimwithinsightintothebusinessoperationsandfinancialperformanceofasignificantnumberofpubliccompanies,whichisadvantageoustousasapubliccompany.

Kelt Kindick. Mr.KindickhasbeenadirectorsinceJanuary2013andhasservedasourindependentLeadDirectorsinceMay2018.Mr.KindickservedaschieffinancialofficerandpartneratBain&Company,Inc.,amanagementconsultingfirm,fromJanuary2009untilhisretirementonDecember31,2012.HehasbeenservingasAdvisoryPartnerforBain&CompanysinceJanuary1,2013.HejoinedBain&Company,Inc.in1980,waselectedpartnerin1986,servedasManagingDirectorofthefirm'sBostonofficefrom1991to1996,andasChairmanofthefirm'sexecutivecommitteefrom1998to1999.Mr.KindickalsoservedaschieffinancialofficeroftheCommonwealthofMassachusettsfrom2003to2004.Mr.KindickservedasadirectorofTheAdvisoryBoardCompanyfrom2001to2017andwasleaddirectorfrom2004to2017.HereceivedaB.A.degreefromFranklin&MarshallCollegeandanM.B.A.fromHarvardBusinessSchool.

WebelievethatMr.KindickiswellqualifiedtoserveasamemberofourBoard.Hislongserviceataleadingmanagementconsultingfirm,wherehehasdevelopedextensiveexperienceinassessingandadvisingoncorporatestrategy,finance,operations,andtalentmanagement,aswellashisfinanceandaccountingexperience,willbeadvantageoustous.

Karl F. Kurz. Mr.KurzhasbeenadirectorsinceJanuary2014.FromSeptember2009untilhisretirementinSeptember2012,Mr.Kurzservedasamanagingdirector,co-headoftheenergygroupandamemberoftheinvestmentcommitteeatCCMPCapitalAdvisorsLLC,aleadingglobalprivateequityfirmwithafocusonenergyinvestments,amongotherareas.PriortojoiningCCMP,Mr.KurzspentnineyearswithAnadarkoPetroleumCorporation,mostrecentlyservingaschiefoperatingofficerresponsibleforoverseeingthecompany'sglobalexplorationandproduction,marketing,midstream,land,technologyandservicebusinesses.PriortojoiningAnadarko,Mr.KurzwasgeneralmanagerofmidstreamandmarketingforVastarResources,Inc.,wherehemanagedthecompany'smarketingofoil,naturalgasliquids,gasandgasprocessing.PriortojoiningVastarin1995,Mr.KurzheldmanagementpositionsatARCOOilandGasCompanyinseveralbusinessunitsincludingreservoirengineering,productionoperations,crudeoilmarketing,hedging,andfinancialtrading.Mr.KurzholdsaB.S.,magna cumlaude,inpetroleumengineeringfromTexasA&MUniversityandheisagraduateofHarvardBusinessSchool'sAdvancedManagementProgram.Mr.Kurzalsoservesasthenon-executiveChairmanofAmericanWaterWorksCompany,Inc.(waterandwastewaterservicescompany).HealsoservesasanadvisortoAresManagement,L.P.,acapitalinvestmentcompany.Mr.KurzservedasadirectorofWesternGasPartnersfromMay2008throughMarch2009,GlobalGeophysicalServices,Inc.(seismicdatasolutionsfortheoilandgasindustry)fromDecember2010throughDecember2014,andSemGroupCorporation(midstreamservicesprovidertoindependentoilandgasproducersandrefiners)from2009throughDecember,2019.

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WebelieveMr.KurziswellqualifiedtoserveasamemberofourBoard.Mr.Kurzhasmanyyearsofexperienceinourindustry,includingexecutive,investmentandoperatingexperience,andwebelievetheseexperiencesarecriticaltohisabilitytoidentify,understandandaddresschallengesandopportunitiesthatweface.Mr.Kurzalsohasextensivepublicpolicyexperiencefromservingoncommitteesandboardsofindustryorganizations.

Kimberly S. Lubel. Ms.LubelhasbeenadirectorsinceDecember2011.SheservedasChairmanoftheBoard,PresidentandChiefExecutiveOfficerofCSTBrands,Inc.(apublicly-tradedretaileroftransportationfuelsandconveniencegoods)fromMay2013untilitsacquisitionbyAlimentationCouche-TardInc.inJune2017.Ms.LubelalsoservedastheChairmanoftheBoardofthegeneralpartnerofCrossAmericaPartnersL.P.(apublicly-tradedmasterlimitedpartnership)fromOctober2014,whenCSTBrandsacquiredthegeneralpartner,untilJune2017.InJanuary2013Ms.LubelbecameresponsiblefortheretailorganizationofValeroEnergyCorporation(alargeindependentrefineroftransportationfuelsandrelatedproducts)intheUnitedStatesandCanadaasExecutiveVicePresidentandPresidentRetail,andservedinthatcapacityuntilthespin-offoftheretailorganizationasCSTBrands,Inc.Ms.LubelpreviouslyservedfromOctober2008toDecember31,2012,asExecutiveVicePresidentandGeneralCounselforValerowithresponsibilityoverValero'slegal,advaloremtax,health,safetyandenvironmental,energyandgases,reliability,andprojectexecutiondepartments.ShejoinedValeroin1997asCorporateCounsel.FromApril2006toOctober2008,sheservedasSeniorVicePresident&GeneralCounsel.SheservedasleadattorneyformostofValero'smajoracquisitionsduringhertenurewithValero.Ms.LubelholdsaB.A.inSpanishandinternationalstudiesfromMiamiUniversity(Ohio),anM.A.ininternationalrelationsfromBaylorUniversity,andaJ.D.fromtheUniversityofTexasSchoolofLaw.SheisalsoagraduateoftheExecutiveProgramatStanfordUniversity.Ms.LubelisamemberoftheboardofdirectorsofPBFEnergyInc.(apetroleumrefiningcompany)andalsoservesontheboardsofdirectorsoftheUnitedWayofTexas,theUnitedWayofSanAntonioandBexarCountyandtheSouthwestResearchInstitute,anon-profitresearchanddevelopmentorganizationbasedinSanAntonio.

WebelievethatMs.LubeliswellqualifiedtoserveasamemberofourBoard.Herchiefexecutiveofficerexperienceiscriticaltoherabilitytoidentify,understandandaddresschallengesandopportunitiesthatweface.Asaresultofherexecutiveexperience,Ms.Lubelalsohasanunderstandingofcompensationandcorporategovernanceissuesthatweface.Herexperienceasleadattorneyforcomplextransactionswellpositionshertoadviseonanytransactionsthatwemayconsider.Herfamiliaritywithlegalandregulatoryissues,includingexpertiseoncomplexhealth,safety,andenvironmentalmatters,alsopositionsherwelltoadviseonsuchissues.

Richard E. Muncrief. Mr.MuncriefwasappointedPresidentandChiefExecutiveOfficeroftheCompanyonMay15,2014,andonJanuary1,2017hewasappointedChairmanoftheBoardofDirectorsaswell.InDecember2017herelinquishedthetitleofPresidentwhentheBoardtransferredthattitletotheCompany'sChiefOperatingOfficer.HehadearlierservedsinceJune2009asSeniorVicePresident,OperationsandResourceDevelopmentofContinentalResources,Inc.PriortojoiningContinental,hewasemployedfromAugust2008throughMay2009byResourceProductionCompany,whereheservedasCorporateBusinessManager.FromSeptember2007toAugust2008,heservedasPresident,ChiefOperatingOfficerandasadirectorofQuestMidstreamPartners,LP.From1980to2007,heservedinvariousmanagerialcapacitieswithConocoPhillipsanditspredecessorcompanies,BurlingtonResources,MeridianOilandElPasoExploration.Mr.MuncriefholdsaB.S.inpetroleumengineeringtechnologyfromOklahomaStateUniversity.Mr.MuncriefservedasadirectorofApcoOilandGasInternationalInc.("Apco"),amajority-ownedsubsidiaryoftheCompanyuntilJanuary2015,fromAugust2014untilJanuary2015.

WebelieveMr.MuncriefiswellqualifiedtoserveasamemberofourBoard.Mr.Muncriefhasmanyyearsofexperienceintheupstreamandmidstreamenergybusiness,andwebelievethisexperiencewillbecriticaltohisabilitytoidentify,understandandaddressthechallengesand

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opportunitiesthatweface.AsourChairmanandChiefExecutiveOfficer,withintimateknowledgeofourbusinessandoperations,Mr.MuncriefbringsavaluableperspectivetotheBoard.Further,webelievethatMr.Muncrief'sexperiencewithmanagingtheoperationsofalarge,publiccompanyisadvantageoustous.

D. Martin Phillips. Mr.PhillipsisaManagingPartnerofEnCapEnergyCapitalFund,L.P.,whereheplaysaleadershiproleinalllevelsofexecutivemanagementincludinginvestments,fundraising,finance,accounting,complianceandpersonnel.Mr.PhillipsservesontheboardofseveralEnCapportfoliocompaniesandhasalsoservedontheboardofdirectorsofMontageResourcesCorporationsince2011.PriortofoundingEnCapin1989,Mr.PhillipsservedasaSeniorVicePresidentintheEnergyBankingGroupofNationsBankinDallas,Texas.InhiscapacityasManageroftheU.S./InternationalDivisionofNationsBankfrom1987to1989,Mr.Phillipshadresponsibilityforcreditcommitmentstoabroadspectrumofenergy-relatedcompanies.Mr.Phillipsbeganhiscareerin1978withRepublicBankandservedinvariousseniorenergybankingpositions,includingVicePresidentandManagerofRepublicBank'senergyloanproductionofficeinDenver,from1980to1985,andSeniorVicePresidentandDivisionManagerinRepublicBank'sHoustonofficefrom1986to1987.Mr.PhillipsreceivedaBachelorofSciencedegreeandaMasterofBusinessAdministrationdegreefromLouisianaStateUniversity,andheisamemberoftheLSUCollegeofBusinessHallofDistinction.Mr.PhillipsalsoattendedtheStonierGraduateSchoolofBankingatRutgersUniversity.

WebelieveMr.PhillipsiswellqualifiedtoserveasamemberofourBoard.Mr.Phillipshasmanyyearsofexperienceinourindustry,includingexecutiveandinvestmentexperience,andwebelievetheseexperiencesarecriticaltohisabilitytoidentify,understandandaddresschallengesandopportunitiesthatweface.

Douglas E. Swanson, Jr. Mr.SwansonisaManagingPartnerofEnCapEnergyCapitalFund,L.P.,whereheplaysaleadershiproleinalllevelsofexecutivemanagementincludinginvestments,fundraising,finance,accounting,complianceandpersonnel.Mr.SwansoncurrentlyservesontheboardofseveralEnCapportfoliocompaniesandisalsoontheboardofdirectorsofMontageResourcesCorporationandEarthstoneEnergy,Inc.Inaddition,Mr.SwansonservedontheboardofdirectorsofOasisPetroleum,Inc.anditspredecessorentititiesfromMarch2007untilDecember2017.PriortojoiningEnCapin1999,Mr.SwansonwasinthecorporatelendingdivisionofFrostNationalBankfrom1995to1997,specializinginenergy-relatedservicecompanies,andwasafinancialanalystinthecorporatelendinggroupofSouthwestBankofTexasfrom1994to1995.Mr.SwansonisamemberoftheIndependentPetroleumAssociationofAmericaandtheTexasIndependentProducersandRoyaltyOwnersAssociation.Mr.SwansonreceivedaBachelorofArtsdegreeineconomicsandaMasterofBusinessAdministrationdegreefromTheUniversityofTexas.

WebelieveMr.SwansoniswellqualifiedtoserveasamemberofourBoard.Mr.Swansonhasmanyyearsofexperienceinourindustry,includingexecutiveandinvestmentexperience,andwebelievetheseexperiencesarecriticaltohisabilitytoidentify,understandandaddresschallengesandopportunitiesthatweface.

Valerie M. Williams. Ms.WilliamshasbeenadirectorsinceMarch2018.ShejoinedErnst&YoungLLPin1981andhasover35yearsofauditandpublicaccountingexperience,servingnumerousglobalcompaniesinvariousindustries,includingenergy,untilherretirementin2016.Ms.Williamsmostrecentlyservedasthefirm'sSouthwestRegionAssuranceManagingPartner,apositionshehadheldsince2006.SheheldseveralseniorleadershippositionsatErnst&Youngandalsoservedonseveralstrategiccommittees,includingthefirm'sPartnerAdvisoryCouncil,InclusivenessCouncil,AuditInnovationTaskForceandtheDiversityTaskForce.Ms.WilliamsholdsaB.S.fromtheUniversityofNorthTexasandanM.B.A.fromtheUniversityofHouston.SheisamemberoftheboardofdirectorsofOmnicomGroup,Inc.(aglobaladvertisingandpublicrelationsfirm)andDTEEnergy(aMichigan-basedelectricandnaturalgasutilitycompany).

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WebelievethatMs.WilliamsiswellqualifiedtoserveonourBoard.Herextensiveexperienceinpubliccompanyaccountingandfinanceandherfamiliaritywithriskmanagementissueswillbecriticaltounderstandingourfinancialperformanceaswellasidentifyingandaddressingthechallengeswefaceintheglobalenergymarkets.

CORPORATEGOVERNANCE

Overview

WPXiscommittedtohighstandardsofcorporategovernanceandethicalbusinessconduct.ImportantdocumentsthatarereflectiveofthiscommitmentincludeourCertificateofIncorporation,Bylaws,CorporateGovernanceGuidelines,chartersofthecommitteesofourBoardofDirectors,ourLeadDirectorCharter,andourCodeofBusinessConduct.Youcanaccessthesedocumentsatwww.wpxenergy.comunder"Investors"and"CorporateGovernance"tolearnmoreaboutourcorporategovernancepractices.

CorporateGovernancePractices

Someofourkeycorporategovernancepracticesinclude:

BoardStructure

• Majority Vote Standard.OurBylawsandCorporateGovernanceGuidelinesprovidethateachdirectormustbeelectedbyamajorityvoteinanuncontestedelection.OurCorporateGovernanceGuidelinesalsoprovidethatadirectornomineemustsubmitanirrevocableresignationeffectiveuponthefailuretoreceivemorevotescast"for"than"against"hisorherelectionorre-electionandBoardacceptanceofsuchresignation.

• Board Leadership Structure.TheBoardbelievesthatindependentleadershipisimportant.TheBoardalsobelievesthat,dependingonwhatappearstobeinthebestinterestsoftheCompanyanditsstockholdersatanygivenpointintime,itshouldbeabletochoosewhethertherolesofChairmanoftheBoardandChiefExecutiveOfficerarecombinedorseparate.IncaseswheretheBoardbelievesthatthoserolesshouldbecombined,theindependentdirectorswillselectfromamongthemselvesanindividualwhoactsasLeadDirector.ThedutiesandresponsibilitiesoftheLeadDirectoraresetforthinaLeadDirectorCharterthatisavailableonourwebsiteatwww.wpxenergy.com.TheindependentdirectorsassesstheBoard'sleadershipstructureannuallyandconductannualperformanceevaluationsofboththeChairmanoftheBoardandtheLeadDirector.WhenthepositionsofChairmanoftheBoardandChiefExecutiveOfficerarecombined,theperformanceevaluationoftheChairmanoftheBoardroleisinadditiontotheperformanceevaluationoftheChiefExecutiveOfficerrole.

BoardandBoardCommitteesCompositionandPerformance

• Limitation on Public Company Directorships.Adirectormaynotserveonmorethanfourpubliccompanyboardsofdirectors(includingtheCompany's).

• Resignation Upon Change in Status.Eachofourdirectorsisrequiredtoofferhisorherresignationuponamaterialchangeinhisorherstatus,includingachangeinhisorherprincipalbusinessassociations.

• Executive Sessions.OurBoardofDirectorsandeachBoardcommitteeregularlyconductexecutivesessionsofnon-employeedirectors.OurLeadDirectorpresidesovereachexecutivesessionofnon-employeedirectors.CommitteeChairspresideoverexecutivesessionsoftheirrespectivecommittees.

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• Independent Advisors.OurBoardofDirectorsandBoardcommitteeshavetheauthoritytoretainindependentadvisors.

• Annual Performance Reviews.OurBoardofDirectorsandBoardcommitteesconductperformancereviewsannually.

• New Director Orientations.NewdirectorsarerequiredtocompleteanorientationprogramuponjoiningtheBoard,andalldirectorsaregiventheopportunityandareencouragedtoparticipateincontinuingeducationprograms.

GuidelinesandBoardPolicies/Procedures

• Stock Ownership Guidelines.Wemaintainstockownershipandretentionguidelinesfordirectorsandexecutiveofficers.See "Compensation Discussion and Analysis—OtherCompensation Practices—Stock Ownership Guidelines" and "Director Compensation."

• Approval Procedures for Related-Person Transactions.Wehavearelated-persontransactionsapprovalpolicyregardingthereview,approvalandratificationofrelated-persontransactionsinvolvingamemberoftheBoard,oneofourexecutiveofficers,oranyimmediatefamilymemberoraffiliateofsuchindividuals.TheAuditCommitteeandinsomecasesthefullBoardofDirectorsoverseesthisprocess.See"CertainRelationshipsandTransactions."

• Recoupment Policy.WehavearecoupmentpolicythatrequirestheCompanytorecoverallperformance-basedincentivepaymentsfromseniorexecutives,includingallofournamedexecutiveofficers,foundbytheBoardofDirectorstobepersonallyresponsibleforthefraudorintentionalmisconductresultinginasignificantrestatementoftheCompany'sfinancialstatements.Inaddition,wewillseekrecoupmentfromallotherexecutiveofficersofanyamountspaidinexcessoftheawardthatwouldhavebeenpaidbasedontherestatedfinancialresults.See "Compensation Discussion and Analysis—Other Compensation Practices—Recoupment Policy."

• Communications Policy.WehaveacommunicationpolicythatoutlineshowstockholdersandotherinterestedpartiesmaycommunicatewiththeBoardofDirectors.See"BoardCommittees—CommunicationswiththeBoardofDirectors."

• Independent Compensation Consultant.OurCompensationCommitteehasthesoleauthoritytoretainorterminateitscompensationconsultantandannuallyreviewsitscompensationconsultant'sindependence.

• Transactions in Company Securities (Anti-Hedging Policy).Ourinsidertradingpolicyprohibitsshortsalesofsharesofourcommonstockbydirectorsandexecutiveofficers.Italsoprohibitstheuseofequivalentderivativesecuritiesthatwouldhavetheeffectofinsulatinginsidersfromanydownturninthevalueofourcommonstock.

• Anti-Pledging Policy.Ourinsidertradingpolicyprohibitsourdirectors,officers,andkeyemployeesfromholdingoursecuritiesinamarginaccountorusingsuchsecuritiesascollateralforaloan.

• Board Refreshment.Overtime,theBoardrefreshesitsmembershipthroughacombinationofaddingorreplacingdirectorstoachieveappropriatebalancebetweenmaintaininglonger-termdirectorswithdeepinstitutionalknowledgeoftheCompanyandaddingdirectorswhobringadiversityofperspectivesandexperience.Forexample,atourfirstAnnualMeetingof

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Stockholdersin2013,theBoardwascomposedofelevendirectors.Sincethatmeeting,andasoftheconclusionofour2020AnnualMeeting:

• SevenoftheelevendirectorswhowereservingontheBoardin2013willhaveretiredorlefttheBoard.

• FivenewdirectorshavebeenelectedtotheBoard,fourofwhomareindependent.

• TwoofourindependentdirectorshaveservedasLeadIndependentDirector.

• ThecompositionoftheBoard'scommitteeshasbeenrefreshed,andthechairofeachcommitteehasbeenchanged.

IfallofthenomineesareelectedtotheBoard,followingtheAnnualMeeting,theaveragetenureofourdirectorswillbefiveyears.TheBoardbelievesthat,collectively,thedirectorsofferadiverserangeofbackgroundsthatcontributetotheoveralleffectivenessoftheBoard.

Environmental, Social and Governance Initiatives. Wearepursuingavarietyofeffortstoimproveourcommunicationandourperformanceundervariousenvironmental,socialandgovernanceinitiatives.BelowareafewhighlightsfromoursecondESGReportthatisavailableonlineatwww.wpxenergy.com.PleasereviewthecompleteESGReportformoredetails.

AirQuality

• AchievedsignificantreductioninDelawareBasinflaringthroughmorethan$150millionofnewinfrastructuretosupportnaturalgasvolumes

• NewprojectsincludeddoublingthecapacityofourjointventuregasprocessingplantintheDelawareBasinto400MMcf/d

• Expandedourdroneprogramto8certifiedpilotstodigitizeoursurfaceassetsintheWillistonBasintoinspectforfugitiveemissions

Water&Fluids

• ConstructedathirdwaterrecyclingcenterinDelawareBasinduring2019;nowhavecapacitytorecyclemorethan150,000barrelsperday

• Recycled16.1millionbarrelsofproducedwaterin2019intheDelawareBasin;anincreaseof57%vs.2018

Safety

• Fourpreventablemotorvehicleaccidentsacrossmorethan4.4millionmilesdriven

• JoinedthePermianRoadSafetyCoalition;participatedinNovembersafetystand-down

• Fiverecordableemployeeinjuriesin2019acrossmorethan1.5millionhoursworked,resultinginatotalrecordableincidentrate(TRIR)of0.65—upfrom0.43in2018

Diversity&Inclusion

• Womenaccountedfor37percentofourworkforcein2019

• Minoritiesaccountedfor22percentofourworkforcein2019

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CommunityInvestment

• Distributedapproximately$1.4millionincharitablefundsin2019,benefittingmorethan330organizations

• Receivedthe2019CommunityImpactawardfromOklahomaBusinessEthicsforthestructureofourcivicinvolvementprograms

Governance

• InFebruary2019,theBoardamendedtheCharteroftheNominatingandGovernanceCommittee,refocusingitastheNominating,Governance,EnvironmentalandPublicPolicyCommittee.

• DesignatedourtopsafetyandenvironmentalprofessionalasWPX'sESGDirector

IndependentAuditors

• Ratification of Auditor.Ourstockholdersannuallyratifytheselectionofourindependentregisteredpublicaccountingfirm.

• Limited Non-Audit Fees.The2019non-auditandnon-audit-relatedfeespaidtoourindependentregisteredpublicaccountingfirmwerelessthantwentypercentoftotalfeespaidtothatfirmbytheCompanyin2019.

CorporateGovernanceGuidelines

OurCertificateofIncorporationandBylaws,togetherwithDelawarelawandNYSEandSECrules,governtheCompany.OurCorporateGovernanceGuidelinessetforthmanyofthepractices,policiesandproceduresthatprovidethefoundationofourcommitmenttostrongcorporategovernance.ThepoliciesandpracticescoveredinourCorporateGovernanceGuidelinesincludeoperationoftheBoardofDirectors,Boardstructure,directorindependenceandBoardcommittees.OurCorporateGovernanceGuidelinesarereviewedatleastannuallybyourNGEPPCommitteeandarerevisedasnecessary.

CodeofBusinessConduct

OurBoardhasadoptedaCodeofBusinessConductthatappliestoallemployees.OurCodeofBusinessConductispubliclyavailableonourwebsiteatwww.wpxenergy.com.AnywaiverofourCodeofBusinessConductwithrespecttotheChiefExecutiveOfficer,ChiefFinancialOfficerorController,orpersonsperformingsimilarfunctions,maybeauthorizedonlybyourAuditCommittee.Intheeventthatwemakeanychangesto,orprovideanywaiversfrom,theprovisionsofourCodeofBusinessConduct,weintendtodisclosesucheventsonourwebsiteorinareportonForm8-Kwithinfourbusinessdaysofsuchevent.

DirectorIndependence

OurCorporateGovernanceGuidelinesrequirethattheBoardmakeanannualdeterminationregardingtheindependenceofeachofourdirectors.BasedonanannualevaluationperformedbyandrecommendationsmadebytheNGEPPCommittee,theBoardhasdeterminedthateachofourcurrentdirectors,otherthanMessrs.MuncriefandGaspar,isindependentundertheNYSElistingstandardsandtherulesandregulationsoftheSEC.TheBoardhasalsodeterminedthatMr.WilliamG.Lowrie,adirectoroftheCompanyuntilhisretirementinMay2019,wassimilarlyindependentduringhisserviceontheBoard.TheBoard'sdeterminationofindependencetookintoaccountthe"brightline"standardsoftheNYSEandthestandardsforindependencecontainedinourCorporateGovernance

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Guidelines,aswellastheabsenceofanymaterialtransactionsorotherrelationshipsbetweentheCompany,ontheonehand,anddirectors,theirimmediatefamilymembersandotherassociates,ontheother.TheBoardreviewedtransactionsbetweentheCompanyandothercompanieswhereadirectorservesasanon-employeedirector,orwhereadirectororfamilymemberofthedirectorservesasanexecutiveofficer,andconcludedthatnosuchtransactionwascontrarytoafindingofindependence.

BoardLeadershipStructure

OurBoardbelievesthat,dependingonwhatappearstobeinthebestinterestsoftheCompanyanditsstockholdersatanygivenpointintime,itshouldbeabletochoosewhethertherolesofChairmanoftheBoardandChiefExecutiveOfficerarecombinedorseparate.SinceJanuary2017,thepositionsofChairmanoftheBoardandChiefExecutiveOfficerhavebeenheldbyMr.Muncrief.TheBoardbelievesthatMr.Muncrief'sleadershipindevelopingandexecutingtheCompany'sstrategysince2014andhisdeepknowledgeoftheCompany'soperationsenablehimtofacilitatetheBoard'sresponsibilitiesforoverseeingtheCompanyanddrivingitscontinuedeffortstocreatevalueforstockholders.AstheChairmanoftheBoardandChiefExecutiveOfficer,Mr.MuncriefiswellpositionedtoidentifykeyissuesthatcallfortheBoard'sattentionandguidance.

TheBoardalsobelievesthatindependentleadershipisimportant,andtheCompany'sGovernanceGuidelinescallfortheindependentdirectorstoselectfromamongthemselvesaLeadDirectorwhentheroleofChairmanoftheBoardiscombinedwiththeroleofChiefExecutiveOfficer.InMay2018,theindependentdirectorsselectedMr.KindickasLeadDirector.

ThecurrentleadershipstructureoftheBoardisreviewedannuallybytheindependentdirectors.Inaddition,theindependentdirectorsannuallyconductperformanceevaluationsofboththeChairmanoftheBoardandtheLeadDirector.WhenthepositionsofChairmanoftheBoardandChiefExecutiveOfficerarecombined,theperformanceevaluationoftheChairmanoftheBoardroleisinadditiontotheperformanceevaluationoftheChiefExecutiveOfficerrole.

ThedutiesandresponsibilitiesoftheLeadDirectoraresetforthinaLeadDirectorCharterthatisavailableonourwebsiteatwww.wpxenergy.com,andincludethefollowing:

• presidesatexecutivesessionsoftheindependentdirectorsandhastheauthoritytocalladditionalexecutivesessionsormeetingsoftheindependentdirectors;

• presidesatBoardmeetingsintheabsenceoftheChairmanoftheBoard;

• servesasprincipalliaisonbetweentheChairmanoftheBoardandtheindependentdirectors;

• assistsintheselectionandpreparationofmeetingschedules,agendasandmeetingmaterialsfortheBoard;

• isavailableforconsultationanddirectcommunicationwithmajorstockholdersunderappropriatecircumstances;

• interviews,alongwiththeChairmanoftheBoardandtheChairmanoftheNGEPPCommittee,allBoardcandidates,andmakesrecommendationstotheNGEPPCommittee;and

• oversees,inconsultationwiththeChairmanoftheBoard,theBoard'sannualgoalsandobjectives,whicharesubjecttoapprovalbythefullBoard.

TheBoardbelievesthatitisimportanttohavetheflexibilitytoputinplacealeadershipstructurethatpromoteseffectivegovernanceatanygivenpointintimeandthat,underpresentcircumstances,thecurrentBoardleadershipstructureisinthebestinterestsoftheCompanyanditstockholders.

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RiskOversight

Enterprise-Wide Risk Oversight. OurBoardoverseesmanagement'senterprise-wideriskmanagementactivities,eitherdirectlyorwiththeassistanceofitscommittees.Inthenormalcourseofitsbusiness,theCompanyisexposedtoavarietyofrisks,includingmarketrisksrelatingtochangesincommodityprices,capitalavailability,technicalrisksaffectingtheCompany'sresourcebase,politicalrisks,andrisksinvolvingcybersecurity.TheCompany'sofficersandstaffattendregularlyscheduledmeetingsoftheBoard,wheretheyconductpresentationstotheBoardonvariousstrategicmattersinvolvingtheCompany'soperationsandtherisksthatmayaffectthoseoperations.Freetoaskquestionsorraiseconcernsregardingriskmanagementoranyothermatters,theBoardasawholeandatthecommitteelevelmonitorsthedevelopmentandmanagementofrisksthatmayaffecttheCompany'soperationsandstrategicgoals.DiscussionswiththeBoardregardingtheCompany'scapitalandoperatingplan,businessresults,andcompetitiveenvironmentordinarilyincludeadiscussionoftherisksassociatedwiththeparticularitemunderdiscussion.TheBoard'scommitteesassistintheriskoversightfunctionasfollows:

• TheAuditCommitteeoverseesourfinancialcontrolsandcomplianceactivities,andregularlyevaluatessuchmattersasourfinancialreportinganddisclosure,ourrelationshipswithvendors,andourcapitalinvestmentandprojectexecution.Theenterpriseriskmanagementfunction,whichreportstoourChiefFinancialOfficer,assiststheCompanyinidentifyingandassessingtheCompany'smaterialrisks.TheCompany'sChiefInternalAuditor,whoalwayshasdirectaccesstotheAuditCommittee,assiststheCompanyinevaluatingriskmanagementcontrolsandmethodologies.Inconnectionwithitsoversightrole,theAuditCommitteeregularlymeetsprivatelywithrepresentativesfromtheCompany'sindependentregisteredpublicaccountingfirmandtheCompany'sChiefInternalAuditorandGeneralCounsel.

• TheCompensationCommitteeoverseesriskassociatedwithourhumancapitalandourcompensationpracticesandplans.

• TheNGEPPCommitteeoverseesBoardprocessesandcorporategovernance-relatedrisk,includingrisksrelatedtoenvironmentalhealthandsafety,reputationandbranding,publicpolicyandlegislativeandregulatorymatters.

Enterprise-Wide Incentive Compensation Risk Assessment. WiththeoversightofourCompensationCommittee,weconductedariskassessmentoftheCompany'shumancapitalwithafocusonenterprise-widecompensationprograms.Theriskassessmentreviewedbothincentivecompensationplansandindividualincentiveawardspaidin2019forthepresenceofpotentialdesignelementsthatcouldincentemployeestoincurexcessiverisk.Theassessmentalsotookintoaccountthepresenceofotherdesignfeaturesthatservetomitigateexcessiverisk-taking,suchastheCompany'srecoupmentpolicy,stockownershipguidelines,andbalancedperformancemetrics.

Afterconsideringtheresultsoftheriskassessment,theCompensationCommitteeconcluded,anditsindependentadvisoragreed,thatthelevelofriskassociatedwiththeCompany'senterprise-widecompensationprogramsisnotreasonablylikelytohaveamaterialadverseeffectontheCompany.TheresultsoftheriskassessmentwerereviewedwiththeCompensationCommitteeatameetinginFebruary2020.Pleasesee"Compensation Discussion and Analysis—Other Compensation Practices—Consideration of Risk in Setting Executive Compensation"foradiscussionofdesignelementsintendedtomitigateexcessiverisk-takingbyourexecutiveofficers.

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ExecutiveOfficers

Thefollowingpresentsabriefbiographicaldescriptionofeachofourexecutiveofficers(otherthanMessrs.MuncriefandGaspar,whosebiographicalinformationappearsaboveunder"2020DirectorNominees").

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ExecutiveOfficer BiographicalInformationDennisC.Cameron

Age57

ExecutiveVicePresidentandGeneralCounsel

Mr.CameronhasservedasExecutiveVicePresidentandGeneralCounselsinceNovember2018andearlierservedasSeniorVicePresidentandGeneralCounselsinceDecember2013.Priortothattime,Mr.CameronhadservedasVicePresidentandDeputyGeneralCounseloftheCompanysinceJuly2013andAssistantGeneralCounselfromJanuary2012toJuly2013.Mr.Cameronhasover25yearsoflegalexperience.HestartedhiscareerinMay1987atGableGotwals,afull-servicelawfirm.From2008,Mr.CameronwasamemberoftheBoardofDirectorsofthefirm.Mr.Cameron'spracticeatGableGotwalsconsistedprimarilyofcomplexlitigationinvolvingenergyinterestsincludingthedefenseofclassactionsandincludedcommerciallitigationwithanemphasisinoil&gasissues,productsliabilityandenvironmentallaw.Mr.Cameronservedasnationalcounseltoamajoroil&gascompanyonroyalty,severancetaxesandquitammattersandregionalcounseltotwootheroil&gascompaniesonsimilarmatters.Mr.Cameronalsorepresentedthreemajoroil&gascompaniesonFederalandIndianoil&gasmattersrelatedtoproductionthroughouttheUnitedStatesandoffshore.Mr.CameronwasselectedasNationalProductsliabilitycounseltoaninternationaltoolmanufacturer.Mr.CameronreceivedaBachelorofScienceinMechanicalEngineeringfromtheUniversityofOklahomaandJurisDoctorfromtheUniversityofOklahomaCollegeofLaw.

BryanK.Guderian

Age60

ExecutiveVicePresidentofBusinessDevelopment

Mr.GuderianhasservedasExecutiveVicePresidentofBusinessDevelopmentsinceFebruary2018andearlierservedasSeniorVicePresidentofBusinessDevelopmentsinceMay2016.Priortothattime,Mr.GuderianservedasSeniorVicePresidentofBusinessDevelopmentandLandfromOctober2014untilMay2016,andasSeniorVicePresidentofOperationsfromDecember2011untilOctober2014.From1998untilDecember2011,Mr.GuderianservedasVicePresidentoftheExploration&ProductionunitofTheWilliamsCompanies,Inc.withresponsibilityforoperationalandcommercialmanagementofexplorationandproductionassetsintheMarcellusShale,theSanJuanBasinandotherbasins.Mr.GuderianalsohadresponsibilityforoverseeingWilliams'internationaloperations.HeservedasadirectorofApcoInternationalOilandGasInc.("Apco")from2002until2015andadirectorofPetroleraEntreLomasS.A.from2003until2015.Mr.GuderianservedasChiefExecutiveOfficerofApcofrom2013until2015.Mr.GuderianjoinedWilliamsin1991asagasmarketingrepresentative.Mr.GuderianholdsabachelorofbusinessadministrationdegreeinpetroleumlandmanagementfromtheUniversityofOklahoma.

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BoardMeetingsandAnnualMeetingAttendance

DirectorsareexpectedtoattendBoardmeetings,meetingsofcommitteesonwhichtheyserveandtheAnnualMeetingofStockholders.DuringtheyearendedDecember31,2019,theBoardofDirectorsheldelevenmeetings.AlldirectorswhoweremembersoftheBoardofDirectorsin2019attendedatleast75%ofthemeetingsoftheBoardandanyBoardcommitteesofwhichtheyweremembers.Eachofourdirectorsattendedour2019AnnualMeetingofStockholders.

BoardCommittees

TheBoardofDirectorshasestablishedthreestandingcommittees:theAuditCommittee,theCompensationCommitteeandtheNGEPPCommittee.ThesecommitteeshelptheBoardofDirectorsfulfillitsresponsibilitiesandassisttheBoardofDirectorsinmakinginformeddecisions.Eachcommitteeoperatespursuanttoawrittencharter,eachofwhichisavailableonourwebsiteatwww.wpxenergy.com,andevaluatesitscharterandconductsacommitteeperformanceevaluationannually.

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ExecutiveOfficer BiographicalInformationJ.KevinVann

Age48

ExecutiveVicePresidentandChiefFinancialOfficer

Mr.VannhasservedasExecutiveVicePresidentandChiefFinancialOfficersinceFebruary2018.HeearlierservedasSeniorVicePresidentandChiefFinancialOfficersinceMarch2014.Mr.VannalsoservedasTreasurerfromSeptember2014toNovember2014andfromNovember2018untilFebruary2020.PriortohisappointmentasSeniorVicePresidentandChiefFinancialOfficer,Mr.VannhadservedasVicePresident,ChiefAccountingOfficerandControllersinceDecember2011.FromJune2007untilDecember2011,Mr.VannhadservedasControllerfortheexplorationandproductionbusinessunitofTheWilliamsCompanies,Inc.HewasControllerforWilliamsPowerCompanyfrom2006to2007andDirectorofEnterpriseRiskManagementforWilliamsfrom2002to2006.InhisControllerpositions,hewasresponsibleforthedevelopmentandimplementationofinternalcontrolstoensureeffectivefinancialandbusinesssystems,accuratefinancialstatementsandthetimelyprovisionofappropriateinformationandanalysistoassistinthestrategicmanagementofthecompany.AsDirectorofEnterpriseRiskManagementforWilliams,hewasresponsiblefortheaggregationandmeasurementofcommodityandcreditrisk.Mr.VannalsoservedasadirectorofApcoOilandGasInternationalInc.from2014to2015.Mr.VannholdsaB.S.inaccountingfromOklahomaStateUniversity.

AngelaE.Kouplen

Age46

SeniorVicePresident—AdministrationandChiefInformationOfficer

Ms.KouplenhasservedasSeniorVicePresident—AdministrationandChiefInformationOfficersinceNovember2018.SheearlierservedasVicePresident—AdministrationandChiefInformationOfficersince2016,andasVicePresident—InformationTechnologiessince2015.PriortothattimeandsinceDecember2011,Ms.KouplenservedtheCompanyinavarietyofpositionsininformationtechnology,contractmanagementandleadershipandorganizationaldevelopment.Shehasmorethan20yearsofexperienceinenergy,managementandinformationsystems.Ms.KouplenholdsaB.S.inmanagementfromOklahomaStateUniversityandanMBAfromtheUniversityofTulsa.

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Thedirectorsserveonthecommitteesassetforthbelow.

AuditCommittee

TheAuditCommitteeconsistsofMessrs.Carrig(Chair)andKurzandMs.Williams,eachofwhomisanindependentdirectorundertheNYSElistingstandardsandtherulesandregulationsoftheSECandeachofwhomisfinanciallyliterate.TheBoardofDirectorshasdeterminedthateachofMessrs.CarrigandKurzandMs.Williamshasaccountingorrelatedfinancialmanagementexpertiseandisqualifiedasan"auditcommitteefinancialexpert"asdefinedbytherulesandregulationsoftheSEC.YoushouldunderstandthatthesedesignationsaredisclosurerequirementsoftheSECandtheNYSErelatingtothemembers'experienceandunderstandingofaccountingandauditingmatters.ThesedesignationsdonotaffecttheobligationsorliabilityofBoardorAuditCommitteemembersgenerally.TheAuditCommitteeisresponsibleforoverseeingouraccountingandfinancialreportingprocessesandauditsofourfinancialstatements,publicdisclosureandcomplianceactivitiesandfortheselectionandretentionoftheindependentregisteredpublicaccountingfirm.TheAuditCommitteeheldeightmeetingsin2019.

CompensationCommittee

TheCompensationCommitteeconsistsofMessrs.Lentz(Chair)andHerdman,andMs.Lubel,eachofwhomisanindependentdirectorundertheNYSElistingstandardsandtherulesandregulationsoftheSECandeachofwhommeetsthedefinitionofanoutsidedirectorundertheInternalRevenueCodeof1986,asamended(the"IRC").TheCompensationCommitteeisresponsibleforoverseeingthedesignandimplementationofstrategicexecutivecompensationprogramsthatpromotetheattraction,retention,andappropriaterewardofexecutiveofficersandaredesignedtomotivatetheCompany'sexecutiveofficerstowardtheachievementofbusinessobjectivesandtoaligntheexecutiveofficers'focuswiththelong-terminterestofthestockholders.TheCompensationCommitteealsomakesrecommendationstotheBoardregardingthecompensationofourChiefExecutiveOfficerandassiststheBoardinfulfillingitsresponsibilitytooverseetheestablishmentandadministrationoftheCompany'scompensationprograms,includingincentivecompensation,equity-basedplans,andrelatedmattersforemployeessubjecttoSection16oftheSecuritiesExchangeActof1934,asamended(the"ExchangeAct").TheCompensationCommitteealsomonitorscompliancebydirectorsandtheexecutiveofficerswiththeCompany'sstockownershipguidelines.TheCompensationCommitteeheldsixmeetingsin2019.

Nominating,Governance,Environmental&PublicPolicyCommittee

TheNominating,Governance,Environmental&PublicPolicyCommittee,or"NGEPPCommittee,"consistsofMessrs.Kindick(Chair)andWorkandMs.Lubel,eachofwhomisanindependentdirectorundertheNYSElistingstandardsandtherulesandregulationsoftheSEC.TheNGEPPCommittee'sdutiesincludeindentifyingandrecommendingqualifiedindividualstobeproposedasnomineesforelectiontotheBoardattheannualmeetingofstockholdersanddeveloping,reviewingannuallyandrecommendingtotheBoardchangestoourCorporateGovernanceGuidelines.TheNGEPPCommitteealsoreviewsthesizeandcompositionoftheBoardanditscommitteesandrecommendsanychangestotheBoard,establishesaprocessforandassessesdirectorindependenceandoverseestheevaluationoftheBoardanditscommittees.

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Audit Compensation NGEPPJohnA.Carrig,Chair HenryE.Lentz,Chair KeltKindick,ChairKarlF.Kurz RobertK.Herdman KimberlyS.LubelValerieWilliams KimberlyS.Lubel D.MartinPhillips DouglasE.Swanson,Jr. DavidF.Work

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Inaddition,followinganamendmenttoitscharterthattheBoardapprovedinFebruary2019,theNGEPPCommitteeassiststheBoardinitsoversightofenvironmental,safetyandpublicpolicymatters,includingamongotherresponsibilities:

• Overseemanagement'smonitoringandenforcementoftheCompany'spoliciestoprotectthehealthandsafetyofemployees,contractors,customersandthepublic;

• Overseemanagement'smonitoringandenforcementoftheCompany'spoliciestoprotecttheenvironment;

• Reviewemergingpolitical,socialandenvironmentaltrendsandmajorgloballegislativeandregulatorydevelopmentsorotherpublicpolicyissuesthatmayaffecttheCompanyanditsoperations;

• OverseetheCompany'spoliciesandpracticespromotingdiversityandinclusion,aswellastheCompany'shumanandworkplacerightsandpolicies;and

• ReviewtheCompany'spolicyadvocacyefforts,includingallpoliticalcontributions,toconfirmalignmentwithCompanypoliciesandvalues.

TheNGEPPCommitteeheldfourmeetingsin2019.

CommunicationswiththeBoardofDirectors

Anystockholderorotherinterestedpartymaycommunicatewithourdirectors,individuallyorasagroup,theLeadDirector,ortheindependentdirectorsasagroup,bycontactingourCorporateSecretaryortheChairmanoftheBoard.ThecontactinformationismaintainedontheInvestorRelationspageofourwebsiteatwww.wpxenergy.com.

Thecurrentcontactinformationisasfollows:

WPXEnergy,Inc.3500OneWilliamsCenterTulsa,Oklahoma74172Attn:CorporateSecretary

Wewillforwardcommunicationstotherelevantdirector(s)unlessthecommunicationsareofapersonalnatureornotrelatedtothedutiesandresponsibilitiesoftheBoardofDirectors,including,withoutlimitation,junkmail,massmailings,businesssolicitations,spam,surveysandroutineproductorbusinessinquiries.

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EXECUTIVECOMPENSATION

ExecutiveSummary

Afterourmulti-yeartransformationofWPX,ouroil-pronepositionsintheDelaware(Permian)andWillistonBasinsnowformthefoundationofWPX.OuracreagepositionsineachofthesebasinscontainsomeofthetopgeologyintheplaysandinNorthAmerica.Notableachievementsinclude:

• Establishmentofnew5-yearvision/goals,presentedtoinvestorsduringthirdquarterwebcast;

• WPXsharesclosed2019up21%(comparedtoanaverageofdown13%forourpeergroup);

• Monetizingequitypositionsintwomidstreaminvestmentsresultingin$500millioninproceedsfrominvestmentsof$125millionandretiringdebtwiththemajorityoftheseproceeds;

• Beganexecutingasharerepurchaseprogram;

• AnnouncingtheacquisitionofFelixEnergy,oneofthehighestqualityDelawareBasinoperators,whichclosedonMarch6,2020;

• IssuingseniordebtinSeptember2019usingtheproceedstoconducttenderoffersforouroutstandingseniornotes,resultinginthereductionofouryearoveryearcashinterestexpenseof$4millionandextendingdebtmaturities;and

• Completingasecond200MMcf/dcryogenicprocessingtrainatajointventuregasplant.

Our2019annualincentivemetrics—AdjustedEBITDAX,ProductionGrowthperDebtAdjustedShare,DevelopmentCost,ControllableCosts,EnvironmentalandSafety,andaDiscretionarycomponent—effectivelyincentedourexecutiveofficerstofocusonthestrategicimperativestodeliverimprovedshareholderreturn.OurexecutivemanagementteamsuccessfullycontinuedourCompany'stransformationtoafocusonoilproduction.Ourstrategicimperativesinclude:

• Financialdiscipline;

• Operationalexcellence;

• Valuecreationandrecognition;and

• Cultivatingourtalent.

UnderourAnnualIncentivePlan("AIP"),weawarded159.8%oftargetbaseduponperformanceagainstpre-definedmetrics,theEnvironmentalandSafetyandtheDiscretionarycomponents.See"Annual Cash Incentive"foradditionalinformationabouttheannualincentivemetricsandhowtheawardwascalculated.

Ourlong-termincentiveplanprovidesthatawardswillvestat200%oftargetifourTSR,themetricusedtomeasureperformance,isfirstorsecondamongourpeergroup.RegardlessofwhereourTSRfallsrelativetothepeercompanies,payoutiscappedat100%ifourabsoluteTSRisnegativeoverthethree-yearperformanceperiod.OurTSRofnegative19.3%forthethree-yearperiodfrom2017-2019wassecondinourpeergroup.Placingsecondinourpeergroupwouldnormallyresultina200%payoutforourperformance-basedRSUs;however,becauseabsoluteTSRwasnegative,thepayoutforthe2017performance-basedRSUswascappedat100%oftarget.See"Vesting of 2017 Performance-Based RSUs"foradditionalinformationaboutthisaward.

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CompensationDiscussionandAnalysis

Ourexecutivecompensationprogramincludesseveralfeaturesdesignedtoaligntheinterestsofourexecutiveofficerswiththeinterestsofourstockholders:

• ThemajorityofcompensationpaidtoourCEOandourPresident&COOisperformance-based;

• Weuseabalancedapproachtoperformancemetricstofocusallexecutiveofficersonexecutingourstrategywhilediscouragingexcessiverisk-taking;

• Ourstockownershipguidelinesrequireourexecutiveofficerstohaveasignificantstakeinourlong-termsuccessandaligntheirinterestswithstockholderinterests;

• TheCompensationCommittee(the"Committee")regularlyreviewsoverhanglevelsandtheannualrunrate;

• Ourrecoupmentpolicyrequiresrecoveryofallperformance-basedincentivepaymentsfromexecutiveofficersfoundtoberesponsibleforfraudorintentionalmisconductthatresultsinasignificantrestatementofourfinancialresultsaswellasrecoupmentfromallotherexecutiveofficersofanyamountspaidinexcessoftheawardthatwouldhavebeenpaidbasedontherestatedfinancialresults;

• Ourchange-in-controlagreementshavea"doubletrigger"forcashpayments,equityawards,andotherbenefitssotheyarenottriggeredsolelyonachange-in-control;

• WeprovideverylimitedperquisitestoourNamedExecutiveOfficers("NEOs");

• TheCommitteeengagesanindependentcompensationconsultanttoprovidecompetitivemarketdataforourexecutiveofficersandtoleaddiscussionsontrendswithinourindustry;and

• Whenmakingcompensationdecisions,theCommitteeusestallysheetstoconsidertotaloutstandingequityvalueandestimatesofamountsthatwouldbepaidinvariousterminationscenarios.

Inaddition,wehaveadoptedpoliciesandprovisionstoensurewedonotengageinpracticesthatcouldbedetrimentaltostockholders:

• Ourperformance-basedRSUprogramprohibitspayoutsinexcessof100%oftargetifabsoluteTSRisnegative,regardlessoftherankingofourTSRrelativetopeers;

• Wedonotprovideemploymentcontractstoanyofourexecutiveofficers;

• Wedonotprovidegross-upstocoverpersonalincometaxesthatpertaintoseverancebenefitsorthelimitedperquisitesweoffer;

• Ourinsidertradingpolicyprohibitsshortsalesofourcommonstockandtheuseofequivalentderivativesecuritiesbyourdirectorsandexecutiveofficers;

• Wedonotpermitournon-employeedirectorsorexecutiveofficerstoengageinmargintradingofourstock;

• Ouranti-pledgingpolicyprohibitsourdirectorsorexecutiveofficersfromholdingourcommonstockinamarginaccountorpledgingourcommonstockascollateralforaloan;and

• Ourincentiveplanprohibitstherepricingofstockoptionswithoutstockholderapproval.

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CompensationPhilosophy

Weprovideacompetitivetotalrewardsprogramdesignedtoattract,engage,reward,andretainhighlyeffectiveexecutiveofficerstodeliveronourbusinessplananddriveresultsthatincreasestockholdervalue.WeintendtomaintaincompensationprogramsthatareinthebestinterestofWPXandourstockholderswhilerewardingourexecutiveofficersthroughapaymixthatbalancesshort-andlong-termperformanceanddiscouragesexcessiverisk-taking.Establishingthepropercompensationmixiscriticaltoourpay-for-performanceapproachinengagingexecutiveofficerstocarryoutourbusinessstrategy.

TheCommitteebelievespayforourexecutiveofficersshouldemphasizeperformance-basedrewardsandtheuseofequity.Performance-basedcompensation,whichincludestheAIPandperformance-basedRSUs,comprisesamajorportionofourexecutivecompensation,whilebasesalaryisamuchsmallerpercentage.Equity,whichdirectlyalignsourexecutives'interestswiththoseofourstockholders,comprisesamuchgreaterportionofcompensationtoourNEOsthancashcompensation.

Weimplementourcompensationphilosophyby:

• MakingamajorityofourCEO'sandofourPresident&COO'spayperformance-based,subjecttoincreasewhenweexceedperformancetargetsandreductionwhenwedonotachieveperformancetargets;

• Tyingpaytoperformancemetricsthatencompassbothshort-andlong-termgoalsandencourageprofitablegrowthwhilediscouragingexcessiverisk-taking;and

• Deliveringamajorityofcompensationintheformofequity,whichdirectlytiestheinterestsofourNEOstostockholdersandcausesthevalueoftheircompensationtovarybaseduponourstockprice.

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DeterminationofTotalCompensation

RoleoftheCommitteeandBoardofDirectors

TheCommitteeoverseesthedesignandimplementationofourcompensationprograms,includingapprovingperformancemetricsandgoalsforourannualandlong-termincentives,andapprovescompensationfortheNEOs,exceptfortheCEO.FortheCEO'scompensation,theCommitteemakesrecommendationstotheindependentmembersoftheBoardofDirectors,whichhasresponsibilityforapprovingtheCEO'scompensation.TheCommitteemakesdecisionswithrespecttoexecutiveofficercompensationbasedonthefollowingfactors:

• TheperformanceofeachexecutiveofficerandthevalueoftheroletoWPX;

• MarketdatafromourpeergroupandthebroaderE&Pindustry;

• Internalpayequityconsiderations,suchasrelativescopeofresponsibilityofeachposition;

• InputfromtheCEO(forexecutiveofficersotherthanhimself);and

• InputfromtheCommittee'sindependentcompensationconsultant.

ThroughoutthisCompensationDiscussionandAnalysis,whenreferencesaremadetodecisionsabouttheCEO'scompensation,thosedecisionsweremadebytheindependentmembersoftheBoardofDirectorsafterconsideringtherecommendationoftheCommittee.

Considerationof2019StockholderAdvisoryVotetoApprove2018ExecutiveCompensation

In2019,wereceivedafavorableadvisoryvoteonourexecutivecompensationprogram,withapproximately97.3%percentoftheCompany'ssharesrepresentedandeligibletovoteattheannualstockholdersmeetingvotinginfavoroftheexecutivecompensationprogram.TheCommitteedidnotchangeitsapproachin2019basedontheresultsoftheadvisoryvote.TheCommitteewillcontinuetomonitorandconsidertheoutcomeoftheannualadvisoryvoteonourexecutivecompensationprogramwhenmakingdecisionsforourexecutiveofficers.

RoleoftheCommittee'sIndependentCompensationConsultant

TheCommitteeretainsanindependentconsultant,FWCook,toadviseonexecutiveanddirectorcompensationmatters,assesstotalcompensationlevelsandelementsofpayforexecutiveofficers,evaluatecompetitivecompensationtrends,andidentifyanappropriatepeergroupforexecutivecompensationplanning.Inaddition,theindependentcompensationconsultantmanagestheprocessbywhichtheBoardofDirectorsevaluatestheCEO'sperformance.TheCommitteemeetswithitsindependentconsultantwithinandoutsidethepresenceofmanagementandhasthesoleauthoritytoretainandterminateitsindependentconsultant,includingsoleauthoritytoapproveitsfeesandretentionterms.FWCookprovidesnootherservicestoWPXanddoesnotperformanyworkformanagement.

ConsistentwiththerequirementintheCommittee'scharter,theCommitteeannuallyreviewstheindependenceofitscompensationconsultantconsideringthefactorssetforthintheNYSElistingstandards.For2019,theCommitteefoundthatFWCookcontinuestomeettheNYSElistingstandardsforindependence.

RoleofManagementandExecutiveOfficers

AlthoughmanagementprovidesinputtotheCommitteeasitsetsperformancemetricsandgoalsforourannualandlong-termincentives,managementdoesnotsetcompensationforourexecutiveofficers.OurCEOprovideshisevaluationoftheperformanceoftheexecutiveofficersthatreporttohimandmakescompensationrecommendationstotheCommittee,whichthendetermines

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compensationfortheseexecutiveofficers.OurCEOalsoprovidesanassessmentofhisownperformancetoboththeCommitteeandtheBoardofDirectorsbutdoesnotparticipateintheprocessofsettinghisowncompensation.

CompetitivePositioning

TheCommitteemakesdecisionsabouttheappropriatemixbetweenfixedandvariablepayandbetweencashandequity.TheCommitteemakesthesedecisionsinthecontextofthecompetitivemarketforexecutivetalent,whilealsoconsideringhoweachelementofpayfurtherstheobjectivesofourcompensationprogram.Toevaluatethismarket,theCommittee,withtheadviceandassistanceofitsindependentcompensationconsultant,considersproxydata,surveydatabothfromadesignatedgroupofpeercompaniesandfromabroadergroupofE&Pcompanies.

Withinputfromitsindependentcompensationconsultant,theCommitteeusedthefollowingselectioncriteriatoidentifyourgroupofpeercompanies:

• Oil&GasE&Pcompanies;

• Scaleintermsofenterprisevaluewithadditionalconsiderationgiventoassetsize,marketcapitalization,revenueandtotalproduction;

• Whetherthecompanyisacompetitorforbusiness,investorcapital,orexecutivetalent;

• Whetherthecompanyhasasimilarcorporatestructurefocusedonhorizontaldrillingusinghydraulicfracturingtechnologyineithermultiplebasinsorasinglebasinstrategictoourbusiness;and

• Whetherthecompanyhasasimilarcommoditymix.

Usingthesecriteria,inJuly2019theCommitteeidentifiedthecompanieslistedbelowasthepeergroupforexecutivecompensationmarketevaluationsfor2020.Thisgroupreflectstheacquisitionsoftwomembersofthepeergroupusedforthe2019marketevaluations—EnergenCorporationandNewfieldExplorationCompany—andtheadditionoftwonewpeers—DevonEnergyandMarathonOilCorp.—whichbothhaveprofilessimilartoWPX.

Ourmethodologyforselectingpeercompanieshasresultedinincludingsomecompaniesthatarebothsmallerandlargerthanweare.TheCommitteehasdetermineditisimportanttoincludethesecompaniesinthepeergroupbecausewecompetedirectlywiththemforbothbusinessandtalentandbecauseoftheirinfluenceonthemarketforexecutivetalentintheE&Pindustry.

TheCommitteeevaluatesthecompaniescomprisingthepeergroupannuallyandmakeschangesasnecessarytoensureWPXisusinganappropriategroupofcompanies.

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CimarexResourcesCompany OasisPetroleum,Inc.

ConchoResourcesInc. Ovintiv,Inc(formerlyknownasEncanaCorporation)

ContinentalResourcesInc. ParsleyEnergy,Inc.

DevonEnergy PioneerNaturalResourcesCompany

DiamondbackEnergy,Inc. QEPResources,Inc.

LaredoPetroleum,Inc. SMEnergyCompany

MarathonOilCorp. WhitingPetroleumCorporation

MatadorResourcesCompany

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UseofTallySheetsandWealthAccumulationAnalysis

Whenmakingexecutivecompensationdecisions,theCommitteereviewscomprehensivetallysheetinformationforeachofourexecutiveofficers.ThesetallysheetsarepreparedbymanagementandreviewedbytheCommittee'sindependentcompensationconsultant.Thetallysheetsquantifytheelementsofeachexecutiveofficer'stotalcompensation,includingtotaloutstandingequityandestimatesofamountsthatwouldbepaidintheeventofachange-in-controlandotherterminationscenarios.

ElementsofourCompensationProgram

Our2019executivecompensationprogramincludedthefollowingfourelements.Eachelementisdesignedtoachieveaspecificobjectivethat,whenbalancedwiththeotherelements,achievesourpay-for-performancephilosophyandalignstheinterestsofourexecutiveswithourstockholders.

Inallocatingamongtheelementsofourcompensationprogram,theCommitteeevaluatesmarketdatawhilealsoconsideringourcompensationphilosophy.See"CompensationPhilosophy"foradiscussionofhowtheCommitteeimplementsthisphilosophy.

Althoughbasesalaryandannualcashincentivesareimportantcomponentsofanexecutiveofficer'stotalcompensation,equityisthemostsignificantelement.FortheCEO,long-termincentivesmakeup78%ofhis2019targettotaldirectcompensation("TTDC").ForotherNEOs,onaverage,long-termincentivesare70%ofTTDC.

BaseSalary

Attractingandretainingtalentwithacompetitivebasesalaryisthefirstbuildingblockofourcompensationprogram.Ourbasesalariesareintendedtohelpattracthighlyqualifiedcandidatesandprovideastablesourceofincomesoourexecutiveofficerscanfocusonday-to-dayjobresponsibilities.

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TheCommitteetypicallysetsbasesalarylevelsforourexecutiveofficersinFebruaryofeachyear.Baseduponmarketdata,theCommitteeapprovedmodestbasesalaryincreasesforallofourNEOs.Basesalariesfor2019were:

AnnualCashIncentive

OurexecutiveofficersareeligibleforcashincentiveseachyearunderourAIP.TheAIPrepresents12%ofourCEO'sTTDCand14%ofTTDCforourotherNEOs.TheAIPisdesignedtofocusexecutiveofficersonachievingtheannualbusinessplanlinkedtoourstrategy.Executionagainsttheannualplanisimportanttodrivelonger-termstockholdervaluebycreatingfinancialstrength,managingcosts,andinvestinginprojectsthatwilldeliverfuturevalue.Weemploybalancedperformancemetricstofurtherspecificobjectivesofourstrategy,suchasachievementofplan,costmanagement,cashflow,capitalefficiency,andsafety.

For2019,theCommitteesettheAIPperformancemetricsasAdjustedEBITDAX,ProductionGrowthperDebtAdjustedShare,DevelopmentCost,ControllableCosts,EnvironmentalandSafetyandaDiscretionarycomponent.Theobjective,definition,andrelativeweightingofeachofthe2019AIPperformancemetricsisasfollows:

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Executive 2018BaseSalary

2019BaseSalary

DollarIncrease

PercentIncrease

RichardE.Muncrief $ 900,000 $ 950,000 $ 50,000 5.6%J.KevinVann 500,000 520,000 20,000 4.0%ClayM.Gaspar 550,000 575,000 25,000 4.5%BryanK.Guderian 436,720 450,000 13,280 3.0%DennisC.Cameron 386,250 400,000 13,750 3.6%

Metric Objective Definition Weighting AdjustedEBITDAX CashFlow Earningsbeforeinterestexpense,incometaxes,

depreciation,depletionandamortization,andexplorationexpenses.Impactfromdiscontinuedoperationsandnon-cashitemssuchasimpairmentsandmark-to-marketmovementsrelatedtocommodityhedgesisremoved.

20%

ProductionGrowthperDebtAdjustedShare

ProductionGrowth

Annualproductiongrowththatisnormalizedforanychangesindebtorequity.Thismetricmonitorsmanagement'sabilitytoresponsiblygrowproductioninashareholderfriendlymanner.

20%

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TheBoardofDirectorsengagesinarigorousprocesseachyearwhensettingtheannualbusinessplan.TheCommitteethenconsiderstheannualbusinessplanwhensettingtheAIPtargets.Becausewe

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Metric Objective Definition Weighting DevelopmentCost CapitalEfficiency DevelopmentcapitaldividedbyEstimated

UltimateRecoveryforwellswithfirstsalesfromOctober1,2018throughSeptember30,2019.Thismetricisaleadingindicatorofourcapitalallocationprocessandensuresweareinvestinginthehighestratesofreturnwithinourportfolio.Thismetricwillalsodepicthowthecompanyismanagingcapitalspendversustheultimaterecoverablereserves.

20%

ControllableCostsCosts

Thesumofthefollowingitems,dividedbyannualequivalentproductionvolume($/BOE):

20%

• Leaseoperatingexpenses—liftingcostsandworkovers

• Facilityoperatingexpenses • Gathering,processingandtransportation

expenses

• Generalandadministrativeexpenses

Environmental&SafetySafety

BasedupontheCommittee'sdiscretionaryassessmentoftheCompany'soverallenvironmentalandsafetyrecordfortheyear;ManagementprovidesregularreportsofenvironmentalandsafetyactivitiesandoutcomestoassisttheCommitteeinevaluatingperformance.

5%

DiscretionaryOverallCompanyPerformance

Basedonfactorssuchasrelativereturnstoshareholders,netcashflow,returnoncapitalemployed,investorconfidence,managementleadershipandreputation,costinitiatives,managingliquidity,prior-yearreserverevisions,environmental,socialandgovernancefactorsnototherwiseincludedinEnvironmental&SafetyandotheritemsthatreflectonoverallWPXperformance.

15%

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usedaggressiveassumptionswhenwedevelopedthe2019annualbusinessplan,theCommitteebelievedsettingAIPtargetstotheannualbusinessplanensuredasufficientlevelofdifficultysothatachievingthegoalswouldgeneratestockholdervaluecreation.Theassumptionsintheannualbusinessplanincluded:

• Oiltradingat$50perbarrelandnaturalgastradingat$3perMMBtu;and

• FiverigsinthePermianBasinandthreerigsintheWillistonBasin.

Thetablebelowshowsthethreshold,target,andmaximumpayoutlevelsforeachperformancemetric,aswellasactualperformanceresultsagainstthefourquantifiablemetrics.

TheCommitteedeterminedtheactualAIPawardstobepaidtotheNEOsbasedon:

• Performanceagainsttargetsforthefourformulaicperformancemetricsinthetableabove;

• TheCommittee'sassessmentoftheCompany'soverallperformanceandattainmentofcriticalobjectivesasreflectedintheEnvironmentalandSafetymetricsandDiscretionarymetrics(seebelow);and

• Individualperformanceofeachexecutive,thoughnoadjustmentsforindividualperformanceweremadein2019.

InevaluatingtheperformanceoftheNEOsinordertosettheawardpayoutpercentagefortheDiscretionaryandEnvironmental&Safetycomponents,theCommitteeconsideredfinancialandoperationalaccomplishmentsduringtheyear.Highlightsoftheseaccomplishmentsinclude:

• Establishmentofnew5-yearvision/goals,presentedtoinvestorsduringthirdquarterwebcast;

• WPXsharesclosed2019up21%(comparedtoanaverageofdown13%forourpeergroup);

• Monetizingequitypositionsintwomidstreaminvestmentsresultingin$500millioninproceedsfrominvestmentsof$125millionandretiringdebtwiththemajorityoftheseproceeds;

• Beganexecutingasharerepurchaseprogram;

• AnnouncingtheacquisitionofFelixEnergy,oneofthehighestqualityDelawareBasinoperators,whichclosedonMarch6,2020;

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PerformanceMetric Weighting Threshold Target Maximum AttainmentResults

AttainmentAgainstTarget

AwardPayout

AdjustedEBITDAX($Million) 20% 1,065 1,253 1,441 1,380 110.1% 33.5%%ofTarget 85% 100% 115%

ProductionGrowthperDebtAdjustedShare(%) 20% 23 24 26 25.8 107.7% 38.0%%ofTarget 96% 100% 108.5%

DevelopmentCost($/BOE) 20% 6.98 6.35 5.08 5.94 106.9% 26.5%%ofTarget 90% 100% 120%

ControllableCosts($/BOE) 20% 13.80 12.56 11.30 12.13 103.6% 26.8%%ofTarget 90% 100% 110%

EnvironmentalandSafety 5% N/A N/A N/A 7.5%%ofTarget N/A N/A N/A

Discretionary 15% N/A N/A N/A 27.5%%ofTarget N/A N/A N/A

AwardPayout% 50% 100% 200% 159.8%

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• IssuingseniordebtinSeptember2019usingtheproceedstoconducttenderoffersforouroutstandingseniornotes,resultinginthereductionofouryearoveryearcashinterestexpenseof$4millionandextendingdebtmaturities;

• Completingasecond200MMcf/dcryogenicprocessingtrainatajointventuregasplant;

• Reducedflaringrateby50%in2019vs.2018intheDelawareBasin;

• ExpandedourdroneprogramtoeightcertifiedpilotstodigitizeoursurfaceassetsintheWillistonBasin,whichwillenhanceourinspectionforfugitiveemissions;

• Recycled16.1millionbarrelsofproducedwaterin2019intheDelawareBasin,anincreaseof57%vs.2018;

• Handledmorethan188millionbarrelsofoilandwateracrossourWillistonandDelawareBasinsystemsin2019,withaspillpreventionrateof99.988%;and

• Fiverecordableemployeeinjuriesin2019acrossmorethan1.5millionhoursworked.

Baseduponthesefactors,theCommitteeapprovedthefollowing2019AIPawardpayoutstotheNEOs.

Long-TermIncentives

TheannualequitygranttoourNEOsincludesperformance-basedRSUsandtime-basedRSAs.Theseequityvehiclesmeetanumberofbusinessobjectives,includingretention,aligninginterestsofNEOswiththeinterestsofstockholders,andencouragingperformancethatleadstostockpriceappreciationandthecreationofstockholdervalueoverthelong-term.

TheCommitteesetstargetsforequitycompensationbasedonmarketdatafromourpeergroupandinternalequityconsiderationssuchasrelativescopeofresponsibilitiesofeachposition.Basedonthesefactors,for2019theCommitteesetthefollowingequitytargetsforourNEOs.

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Executive TargetPercentage

(%ofEligibleEarnings) TargetAward

Value ActualAward

Paid(1) RichardE.Muncrief 120% $ 1,130,769 $ 1,806,969J.KevinVann 90% 465,231 743,439ClayM.Gaspar 100% 571,154 912,704BryanK.Guderian 80% 358,366 572,669DennisC.Cameron 80% 319,746 510,954

(1) Thetargetawardvalueandactualawardpaidarebasedonactualeligibleearningsfortheyear.Theterm"EligibleEarnings"includesregularbasepay,holidaypay,andpaidtimeoffearnedduringtheyear

Executive Performance-Based

RSU(1) Time-Based

RSAs 2019Equity

Target RichardE.Muncrief $ 4,500,000 $ 3,000,000 $ 7,500,000J.KevinVann 1,181,250 1,181,250 2,362,500ClayM.Gaspar 1,980,000 1,320,000 3,300,000BryanK.Guderian 875,000 875,000 1,750,000DennisC.Cameron 700,000 700,000 1,400,000

(1) ThesevalueswilldifferfromthevaluesintheSummaryCompensationTableduetotherequirementtoreportinamannerconsistentwithAccountingStandardCodification(ASC)718.

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Basedonbothmarketdataandourobjectivetodeliveramaterialproportionofequitycompensationintheformofperformance-basedincentives,theCommitteesetthefollowingequityallocationforourNEOs.

EquityMixofthe2019AnnualGrant

Webelieveitisimportantthatamaterialportionofgrantstoallexecutiveofficersbeintheformofperformance-basedequity.Further,wehavegrantedahigherproportionofperformance-basedRSUstotheCEOandPresident&COOthantotheotherexecutiveofficerstomoredirectlyaligntheinterestsoftheCEOandPresident&COOwithourstockholders.

Performance-BasedRestrictedStockUnits

Wegrantourexecutiveofficersperformance-basedRSUstofocustheireffortsonlong-termperformance.TheperformanceperiodforthoseRSUsisthreeyears.TheperformancemetricisrelativeTSR,ascomparedtoagroupofourpeercompanies,furtherstrengtheningthealignmentwithstockholders.ThepeergroupusedforevaluatingrelativeTSRforthe2019awardconsistsofthesamecompaniesusedtobenchmarkpay.

See"Competitive Positioning"aboveforadiscussionofhowweselectpeercompanies.TSRiscalculatedasfollows:

RelativeTSRassessesthestrengthofourreturntostockholdersbycomparingittotheTSRofourpeercompanies.UsingrelativeTSRasthelong-termperformancemetric,therefore,causesourexecutiveofficerstofocusonexecutingourstrategyandcreatingvalueforstockholders,evenineconomicdowntimes.Itminimizestheimpactofshort-andmid-termmovementsinshareprice,causingexecutiveofficerstofocusonenhancingvalueoverthelong-term.Additionally,relativeTSRfocusesourexecutiveofficersonoutperformingourcompetitorsbecauseitlinkstheirpaytohowourstockpricecomparestothestockpriceofourpeercompanies.Webelieverewardingexecutiveofficersforachievingresultswithintheircontrolandincentingthemtofocusonoutperformingourcompetitorswillleadtoincreasedstockholdervalue.

Atthebeginningoftheperformanceperiod,theCommitteeestablishestheperformanceobjectiveandapprovesgrantstoourexecutiveofficersofacertainnumberofRSUsbasedontheirindividualequitytargetandtheequitymixdescribedabovein"Long-Term Incentives."Attheendofthethree-yearperformanceperiod,theCommitteedeterminesthepayoutpercentagefortheperformance-

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TSR%= (Stockpriceaverageoverthequarterattheendofperiod–Stockpriceaverageoverthequarterimmediatelypriortostartofperiod+Dividendspaid)

Stockpriceaverageoverthequarterimmediatelypriortostartofperiod

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basedRSUsbasedonourrelativeTSRduringthatperformanceperiod.Ourexecutiveofficershavetheopportunitytoreceivefrom0%to200%oftheawardgrantedbasedonhowourTSRcomparestothepeergroupattheendoftheperformanceperiod.

RegardlessofwhereourTSRfallsrelativetothepeercompanies,payoutiscappedat100%ifourabsoluteTSRisnegativeoverthethree-yearperformanceperiod.Performanceatthefirstandsecondrankingsrelativetopeersearnsa200%payoutwhenabsoluteTSRispositive.Performancebelow25%resultsinnopayout.

TSRPerformance

Becausewesetourequitygrantvaluesbasedoncompetitivemarketdata,theperformance-basedequityawardsaredesignedtopayoutat100%oftargetformedianpeergroupperformancewithhigherperformanceresultinginawardsabovetheequitytargetandlowerperformanceresultinginawardsbelowthetargetvalue.Asaresult,whenweperformbetterthanthemajorityofthecompaniesinourpeergroup,ourexecutiveofficersearnanawardabovethetargetvalueatthetimeofgrant.Conversely,whenourTSRisinthebottomhalfofourpeergroup,ourexecutiveofficersearnlessthanthetargetawardvalue.

Vestingof2017Performance-BasedRSUs

In2017,wegrantedperformance-basedRSUstoourexecutiveofficers,includingallfiveofourcurrentNEOs.Underthetermsofthegrant,TSRrelativetothepeergroupdesignatedatthetimeofgrantwastheperformancemetric.Thethree-yearperformanceperiodendedonDecember31,2019.ThecumulativeabsoluteTSRoverthethree-yearperformanceperiodwasnegative19.3%whichwassecondinourpeergroup.Placingsecondinourpeergroupwouldnormallyresultina200%payoutforourperformance-basedRSUs;however,becauseabsoluteTSRwasnegative,thepayoutforthe2017performance-basedRSUswascappedat100%.Webelievetheseawardsoperatedasintendedbylinkingtheperformanceourexecutivesdelivertothepaytheyreceive.

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ThepeergroupformeasuringourrelativeTSRforthe2017performance-basedRSUswascomprisedof:

TheCompensationCommitteedecidedthatanymemberofthepeergroupthatceasestobepubliclytradedduringtheperformanceperiodwillnotbeincludedwiththeremainingpeersforpurposesofdeterminingtheCompany'stotalshareholderreturnrelativetothepeergroup.Therefore,EnergenCorporationandNewfieldExplorationCompanywereremovedfromthepeergroupduetoacquisitions.

Thefollowingtablesummarizesthepayoutofthe2017performance-basedRSUs.

Time-BasedRestrictedStockAwards

Wegranttime-basedRSAstopromotelong-termretentionofexecutiveofficersandpermitthemtoaccumulateequityownershipintheCompanysotheinterestsofourmanagementteamaredirectlyalignedwiththeinterestsofourstockholders.Webelieveitisimportanttohaveanelementofcompensationthatisfocuseddirectlyonretainingtalentsowecanminimizepotentiallossofinstitutionalknowledgeandthedisruptioninherentinunplannedturnover.Time-basedRSAsalsoalignourexecutiveofficerswithourstockholdersbymakingthemstockholdersthemselvesandtyingtheirpersonal,long-termwealthtothesuccessoftheCompany.Retainingtalentandaligninginterestsencouragesourexecutiveofficerstotakeactionstoenhancethevalueofourbusinessandincreasestockholdervalue.Time-basedRSAsvestratablyoverathree-yearperiod.

BenefitsandLimitedPerquisites

Weprovidecompetitivebenefitstoallouremployees,includingourexecutiveofficers,topromotehealthandfinancialwell-being.Thesebenefitsincludehealth,life,anddisabilityinsurance.Long-termdisabilitycoverageisprovidedatabaselevelof60%ofbasesalary,withamaximumof$15,000permonth.Inaddition,eligibleemployees,areabletopurchasesupplementallong-termdisabilitycoveragebringingthetotalupto70%ofbasesalary,withacombinedmaximumbenefitof$15,000permonth.

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CimarexEnergyCo. OasisPetroleumInc.ConchoResources,Inc. ParsleyEnergy,Inc.

ContinentalResources,Inc. PioneerNaturalResourcesCo.DiamondbackEnergy,Inc. QEPResources,Inc.EPEnergyCorporation SMEnergyCompanyLaredoPetroleum,Inc. WhitingPetroleumCorporation

MatadorResourcesCompany

Executive PBRSUsGranted

GrantDayValue

#ofPBRSUs

Forfeited(0%)

PBRSUsVesting

BasedUponPerfAttainmentandVestingDateStockPrice(100%)

TotalValueReceived

BasedUponPerformanceAttainmentandVestingDateStock

Price

TotalValueLostBasedUponStock

PriceDepreciation(1)

RichardE.Muncrief 261,058 $ 3,357,206 0 261,058 $ 2,370,407 $ (986,799)J.KevinVann 72,516 932,556 0 72,516 658,445 (274,111)ClayM.Gaspar 90,645 1,165,695 0 90,645 823,057 (342,638)BryanK.Guderian 54,387 699,417 0 54,387 493,834 (205,583)DennisC.Cameron 36,258 466,278 0 36,258 329,223 (137,055)

(1) Basedupongrant-dateclosingpriceof$12.86onMarch3,2017,andavestingpriceof$9.08

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Ourretirementprogramconsistsofbothaqualified401(k)definedcontributionplanandtwononqualifieddeferredcompensationplans.Underthequalified401(k)plan,theCompanymatchesemployeecontributionsdollar-for-dollarupto6%ofpay,subjecttoInternalRevenueCode("IRC")contributionlimits,andalsomakesanadditionalcontributiontoallemployeesofeither6%or8%ofeligiblepay,dependingontheemployee'sage.

Thetwononqualifiedplansarearestorationplanandavoluntarydeferralplan.Therestorationplanprovidesbenefitsequaltotheamountthatwouldbepayableunderthequalified401(k)planintheabsenceofcertainlimitationsoftheIRC.Ourexecutiveofficersalsoareeligibletoparticipateinavoluntarynonqualifieddeferredcompensationplan,whichallowsdeferralofupto75%ofbasesalaryandupto100%ofannualcashincentives.Deferralstothenonqualifieddeferredcompensationplanarematchedupto6%ofpaythatisnotrecognizedwithinthequalified401(k)plan.

Wealsoprovidethefollowinglimitedperquisitestoourexecutiveofficerswithanaimofattractinghighlyqualifiedcandidatesandallowingourexecutiveofficerstofocusonjobresponsibilities:

• Financial Planning Reimbursement.WereimburseNEOsforfinancialplanningtoprovidethemwithexpertiseoncurrenttaxlaws,personalfinancialplanning,andpreparationsforcontingenciessuchasdeathanddisability.WebelieveencouraginganNEOtoworkwithafinancialplannermaximizestheretentionandengagementaspectsofthedollarswespendontheseprograms.Thefinancialplanningreimbursementislimitedto$7,500annually;

• Personal Use of WPX Energy's Company Aircraft.WeprovidelimitedpersonaluseofCompanyaircraftattheCEO'sdiscretion.TheprimarypurposeofourCompanyaircraftisforbusinessuse,buttheCEOretainsdiscretiontopermitpersonalusewhenhedeemsappropriate,suchaswhencommercialairtravelisinefficientduetocostsoradditionaltraveltimebecausethedestinationisnotwellservedbycommercialairlines,orforpersonalemergencies;and

• Executive Physicals.Executiveofficerphysicalsalignwithourwellnessinitiativeaswellasassistusinmitigatingrisk.Thesephysicalsreducevacancysuccessionriskbyhelpingtheexecutiveidentifyandpreventissuesthatcouldleavearoleunexpectedlyvacated.

OtherCompensationPractices

StockOwnershipGuidelines

Itisimportantfortheinterestsofourexecutiveofficerstoalignwiththoseofourstockholders.OnewayweaccomplishthisisbyrequiringourexecutiveofficerstoholdcertainlevelsofWPXstockunderstockownershipguidelinesadoptedbytheBoardofDirectorsandmonitoredbytheCommittee.

ThesestockownershipguidelinesdefinetheminimumlevelsofWPXstockourexecutiveofficersmustown.Eachexecutiveofficermustholdcommonstockortime-basedRSUsorRSAsofWPXwithavalueatleastequaltothefollowingmultipleofhisorherbasesalaryineffectasofDecember31oftheprioryear.

Stockoptions,whethervestedornot,areexcludedfromthenumberofsharesownedincalculatingcompliancewiththeseguidelines.Unvestedtime-basedRSAscounttowardsatisfactionoftheownershiprequirementswhileunvestedperformance-basedRSUsdonot.

If,ontheannualcompliancedateofFebruary1,anexecutiveofficerdoesnotownsharesofWPXcommonstockwithavalueequaltotherequiredmultipleofbasesalary,thatexecutiveofficeris

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ExecutiveLevel MultipleofBaseSalary

CEO 6OtherExecutiveOfficers 3

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requiredtoretain50%ofanyWPXequityacquiredthroughtheexerciseofstockoptionsorthevestingoftime-basedRSAsorperformance-basedRSUs,netoftaxes,untilthenextcompliancedatewhenhisorherWPXstockownershipmeetstherequiredmultipleofbasesalary.ForFebruary1,2020compliancedate,allNEOssatisfiedtheirstockownershipguidelines.

ConsiderationofRiskinSettingExecutiveCompensation

Ourperformancemanagementsystemevaluatesallemployees,includingourexecutiveofficers,notonlyonresultsbutalsoonhowresultsareachieved.Inotherwords,wewillnotseekresultsatallcosts.Achievingresultsinawaythatisconsistentwithourvaluesisanimportantpartofourculture.Thiscultureisoneofthewaysweareabletosetaggressiveperformancegoalsandencourageappropriateandresponsiblerisk-takingwhilediscouragingimprudentrisks.TheCommitteehasdiscretiontoadjustindividualannualincentiveawardsbasedonanevaluationofhowexecutiveofficersachieveresults,includingtheavoidanceofunduerisks.

TheCommitteealsomitigatesriskbyusingbalancedperformancemetrics.Forexample,ourannualcashincentiveprogrammeasuresAdjustedEBITDAX,ProductionVolumesperDebtAdjustedShare,andDevelopmentandControllableCosts.Togetherthesemetricsencourageourexecutiveofficerstomakedecisionsthatgrowstockholdervalueoverthelongterm.Inaddition,theEnvironmentalandSafetycomponentincentsexecutiveofficerstomakeprudentdecisionswithrespecttoenvironmentalandsafetyissues.Finally,theDiscretionarycomponentallowstheCommitteetoevaluateotherfactorstoassurethatinpursuingannualperformanceobjectivesourexecutiveofficersalsofocusonultimatevaluecreationandsustainabilityofperformance.

WhiletheCommitteebelievesitisimportanttoemphasizepay-for-performanceinourexecutivecompensationprogram,italsorecognizestheneedtobalancefixedpaywithvariablepayandshort-termincentiveswithlong-termincentivestoavoidplacingtoomuchemphasisonshort-termresults.Alackofbalancebetweenannualincentivesandlong-termincentivescouldcauseourexecutiveofficerstotakeundueriskswhenseekingtodriveshort-termperformance.Inaddition,theCommitteeretainsdiscretioninbothourannualincentiveprogramandourlong-termincentiveprogramtoadjustabove-targetpayoutsdownwardforanyreason,includingexcessivelyriskybehavior.

Ourexecutivecompensationprogramincludesseveralfeaturesdesignedtolimitunduerisks.Forexample,thereisacaponpayoutsunderbothourshort-andlong-termincentiveplans.TheCommitteehasadoptedstockownershipguidelinestoalignourexecutiveswithstockholdersandarecoupmentpolicytoremovetheincentivetoinflateperformance-basedawards.Inaddition,theBoardofDirectorshasadoptedanti-hedgingandanti-pledgingpolicies.Annually,weconductanenterprise-wideassessmentofmaterialrisksassociatedwithourpolicies,programs,andactionsrelatedtohumancapital,includinganyrisksthatmightberaisedbyourcompensationprograms.TheCommitteereviewsthisriskassessmenteachyear.

Intheeventourfinancialresultsaresignificantlyrestatedduetofraudorintentionalmisconduct,theBoardofDirectorswillreviewanyperformance-basedincentivepaymentspaidtoexecutiveofficers.Wewill,totheextentpermittedbyapplicablelaw,seekrecoupmentofallperformance-basedincentivepaymentsfromanyexecutiveofficerfoundbytheBoardofDirectorstobepersonallyresponsibleforthefraudorintentionalmisconductthatcausedtheneedfortherestatement.Inaddition,wewillseekrecoupmentfromallotherexecutiveofficersofanyamountspaidinexcessoftheawardthatwouldhavebeenpaidbasedontherestatedfinancialresults.

TheCommitteehastakenactiontoclarifythatourrecoupmentpolicywillbeinterpretedandappliedasnecessarytocomplywithSECandstockexchangerequirements.IftheSECissuesfinalrulesandtheNYSEadoptsrelatedlistingstandardsimplementingtheprovisionsoftheDodd-FrankActrelatedtorecoupment,theCommitteewilladoptanynecessaryconformingchangestoourrecoupmentpolicy.

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Anti-HedgingandAnti-PledgingPolicies

SECrulesgenerallyprohibituncoveredshortsalesofourcommonstockbyourexecutiveofficers.Ourinsidertradingpolicyalsoprohibitsshortsalesofourcommonstockandtheuseofequivalentderivativesecuritiesthatwouldhavetheeffectofinsulatinginsidersfromanydownturninthevalueofourcommonstock.Thepolicyalsorequiresalldirectors,executiveofficersandkeyemployeestoconsultwithourCorporateSecretary(orwithourGeneralCounselorChiefFinancialOfficerifourCorporateSecretaryisnotavailable)beforetheyengageinanytransactionforthepurchaseorsaleofoursecurities.Ourinsidertradingpolicyalsoprohibitsholdingourcommonstockinamarginaccountorpledgingourcommonstockascollateralforaloan.

EmploymentAgreements

Noneofourexecutiveofficershaveemploymentagreements.

TerminationandSeveranceArrangements

Ourexecutiveseverancepayplanprovidesbenefitstoexecutiveofficersincertainterminationscenarios.AnexecutiveofficermayparticipateintheplanwhentheCEOapprovesareductioninforce,ajobelimination,oraninvoluntaryterminationwithoutcause.ForofficersotherthantheCEO,theamountofseverancepayisdeterminedbymultiplyingtheseveredexecutiveofficer'sannualbasesalaryandaverageannualincentive(basedupontheexecutiveofficer'sactualincentivesearnedoverthepriorthreeyears)by1.5.TheamountofseverancepayfortheCEOisdeterminedbymultiplyingtheCEO'sannualbasesalaryandaverageannualincentive(basedupontheCEO'sactualincentivesearnedoverthepriorthreeyears)by2.Theplanincludespaymentattargetfortheproratedannualcashincentivefortheyearoftermination.Inaddition,theseverancepayplanprovidesalumpsumpaymentequalto12monthsoftheseveredexecutiveofficer'smedicalplancoverage.ThepurposeofthislumpsumpaymentistoprovidethefinancialequivalentofCOBRAplanratesfor12monthsofcoverage.Theplanincludesoutplacementassistanceof$25,000.Consistentwithourpastpractice,theseverancepayplanprovidesthatthetreatmentofoutstandingequityawardsisgovernedbythetermsofthegrantagreementissuedatthetimetheequitywasgranted.Ingeneral,ourequityawardagreementsprovideforeithervestingorpro-ratedvestingforseveredemployees.Toparticipateintheplan,theemployeemustexecuteaseveranceandrestrictivecovenantagreementwhichmaycontain,amongotherprovisions,non-competitionandnon-solicitationcovenants.

Change-in-Control

EachofourNEOsispartytoanindividualchange-in-controlagreement.Ourchange-in-controlagreements,inconjunctionwiththeNEOs'RSU,RSA,andstockoptionagreements,provideseparationbenefitsfortheNEOsintheeventofachange-in-controlandaredesignedtoencourageNEOstofocusonthebestinterestsofourstockholdersbyalleviatingconcernsaboutapossibledetrimentalimpacttotheirowncompensationunderapotentialchange-in-control.Ourprogramincludesadoubletriggerforcashpayments,benefits,andequityvesting.Thismeanstheremustbeachange-in-controlandtheNEO'semploymentmustbeinvoluntarilyterminatedbythesuccessorcompanyortheNEOmusthaveterminatedhisorheremploymentforgoodreasoninorderforbenefitstobetriggeredundertheagreement.Forexample,whiletheFelixacquisitionsatisfiedthetriggerrelatedtoanentityacquiringtwenty-fivepercent(25%)ormoreofourcommonstock,nobenefitshavebeenpaidunderourchange-in-controlagreementsbecausenoNEOshavebeeninvoluntarilyterminatedorresignedforgoodreason.Ouragreementsdonotcontainanexcisetaxgross-upprovision,butinsteadprovidea"bestnet"provisionprovidingNEOswiththegreateroftheirafter-taxbenefitcappedatthesafeharboramountortheirbenefitpaidinfull(subjectingthemtopossibleexcisetaxpayments).

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TheCommitteereviewsourchange-in-controlbenefitsperiodicallytoevaluatewhethertheyareconsistentwithcompetitivepracticeandalignedwithourcompensationphilosophy.Aspartofthesereviews,calculationsareperformedtodeterminetheoverallprogramcostifachange-in-controleventweretooccurandallcoveredNEOswereterminated.Anassessmentofcompetitivenorms,includingthereasonablenessofthetypesandamountofcompensationreceived,isusedtovalidatebenefitlevelsforachange-in-control.TheCommitteebelievesthatofferingachange-in-controlprogramisappropriateandcriticaltoretainingandattractingexecutivetalentandkeepingthemalignedwiththeinterestsofourstockholdersiftherewasachange-in-control.

Inconnectionwithitsreviewofourchange-in-controlbenefitsin2018,theCommitteedetermineditwouldbeintheCompany'sbestinteresttomodifythechange-in-controlvestingprovisionsincludedinourperformance-basedRSUs.Previously,theperformance-basedRSUsawardagreementsprovidedthattheawardwouldvestandpayouttotheterminatedemployeebasedupontargetperformance.TheCommitteeapprovedamendmentstooutstandingperformance-basedRSUagreementstoprovidethat,uponaterminationofemploymentfollowingachange-in-control,performance-basedRSUswillvest,andthepayoutwillbebaseduponactualperformancefromtheaward'sgrantdatetothedateimmediatelypriortothechange-in-control.Nootherprovisionswerechanged,andthedoubletriggervestingrequirementuponachange-in-controlremainsineffect.Inadditiontoamendingoutstandingawardsofperformance-basedRSUs,thisprovisionforvestingbaseduponactualperformancewillapplytofuturegrantsofperformance-basedRSUs.Thischangebetteralignswithourpay-for-performancephilosophy,soexecutivesarerewardedbaseduponactualresultsachievedinsteadoftarget.

ThefollowingchartdetailsthebenefitsreceivedifanNEOweretobeterminatedorresignedforadefinedgoodreasonfollowingachange-in-controlaswellasananalysisofthosebenefitsasitrelates

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totheCompany,stockholders,andtheNEOs.See"Change-in-ControlAgreements"belowforfurtherdisclosureofourchange-in-controlprogram.

AccountingandTaxTreatment

TheCommitteeconsiderstheimpactofaccountingandtaxtreatmentwhendesigningallaspectsofpay,buttheprimarydriverofourprogramdesignistosupportourbusinessobjectivesandlinkexecutivepaytoperformance.

PriortotheTaxCutsandJobsActof2017,Section162(m)oftheIRCprovidedanexceptiontothedeductibilitylimitationsforperformance-basedcompensationthatmetcertainrequirements.BecauseSection162(m)hasnowbeenamended,weexpectthatequityawardsgrantedorothercompensationprovidedunderarrangementsenteredintoormateriallymodifiedafterNovember2,2017,generallywillnotbedeductibletotheextenttheyresultincompensationtocertainexecutiveofficersthatexceeds$1millioninanyoneyearforanysuchofficer.In2019,theCommitteecompensatedexecutiveofficersinamannerdesignedtopromotevaryingcorporategoalsinthebestinterestofthecompany,includingourpay-for-performancephilosophy,despitethefactthatthecompensationwillnotbefullydeductibleunderSection162(m).

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Change-in-ControlBenefit BenefittoWPXandStockholders BenefittoExecutiveOfficerMultipleofbasesalaryplusaverageannualcashincentive Encouragesexecutiveofficerstoremainengagedandstay

focusedonsuccessfullyclosingthetransaction Financialsecurityfortheexecutiveofficerequivalenttotwoyearsofcontinuedemployment(threeyearsforourCEO)

Proratedannualcashincentivepaidattargetforyearoftermination

Encouragesexecutiveofficerstoremainengagedandstayfocusedonsuccessfullyclosingthetransaction

Theexecutiveofficersarekeptwhole,iftheyhaveaseparationfromservicefollowingachange-in-control

Acceleratedvestingofequityawards Anincentivetostayduringandafterachange-in-control

Ifthereisriskofforfeiture,executiveofficersmaybelessinclinedtostayortosupportthetransaction

Theexecutiveofficersarekeptwhole,iftheyhaveaseparationfromservicefollowingachange-in-control

Cashpaymentof18monthsofcontinuationofhealthcoverage(ifenrolledincoverageattimeoftermination)

AminimalcosttotheCompanythatcreatesacompetitivebenefit

Coverssomeofthecostofcontinuinghealthcoverage

Reimbursementoflegalfeestoenforcebenefit KeepsexecutiveofficersfocusedonWPXandnotconcernedaboutwhethertheacquiringcompanywillhonorcommitmentsafterachange-in-control

Securityduringanuncertaintimeperiod

Outplacementassistance Keepsexecutiveofficersfocusedonsupportingthetransactionandlessconcernedabouttryingtosecureanotherposition

Assistsexecutiveofficersinfindingacomparableexecutiveposition

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2020BusinessTransformationAward

Beginningin2014undertheleadershipofournewlyhiredCEO,RickMuncrief,WPXembarkedonamulti-yearbusinesstransformation"WPX2020Vision"whichincludedastrategicshiftincommoditymix,portfoliooptimizationtofocusonkeybasins(e.g.,Permian,Williston),emphasisoncostcontrolanddevelopmentoftoptierinfrastructure,increaseofmarginsandreturns,andestablishmentofacultureofaccountability.Aspartofthetransformationstrategy,WPXrestructuredtheleadershipteamwhichincludedthehiringofClayGasparandthepromotionofKevinVann,BryanGuderian,andDennisCameron.Despiteindustryheadwinds,includingincreasedregulationsandalowercommoditypriceenvironment,thecompanywassuccessfulintransformingthebusinessunderthisleadershipteam:

• High-gradedtheportfoliothroughmorethan$10billioninexecutedAcquisition&Divestitureactivity;

• DramaticallyboostedWPX'slong-term,high-returnoildrillinginventorythroughopportunisticDelawareBasinacquisitions;

• Reducedleveragebyexecutingonnon-coreassetsales,capitaldiscipline,andopportunisticdebtreduction;

• Strategicallydevelopedamidstreaminfrastructureportfolio,includingajointventure,toprovideflowassuranceandmonetizationopportunities;and

• Beganexecutingasharerepurchaseprogram.

HavingmetandexceededtheWPX2020Vision,theCompanyannouncedanewfive-yearvisionforshareholdersinNovember2019.Theplanincludesgeneratingfreecashflow,drivingdoubledigitROCE,reducingnetdebt,repurchasingstockandinitiatingadividend.InDecember2019,theCompanyannouncedthetransformativeacquisitionofFelixEnergyfor$2.5billion,whichrepresentsanothersignificantstepintheCompany'scommitmenttodeliveringshareholdervalue.

InFebruary2020,theCompensationCommitteeandtheBoardofDirectorsapprovedaspecialone-time50%enhancementtothe2020valueofthelong-termincentiveawardsmadetothenamedexecutiveofficers.Theone-timeenhancement,deliveredentirelyinequity-basedcompensation,isintendedtoenhancethealignmentbetweenourshareholdersandournamedexecutiveofficers,recognizethesuccessfulbusinesstransformationcompletedundertheWPX2020Vision,rewardeffortsrelatedtothesuccessfulcloseandintegrationofthetransformativeFelixacquisition,promoteleadershipretentionanddrivecontinuedprogresstowardthenewfive-yearvision.

Indevelopingtheformandsizeofthespecialone-timeenhancement,theCompensationCommitteeconsideredtheCompany'shistoricalperformanceonanabsolutebasisandrelativetopeers,historicalpayoutsundertheannualcashincentiveplanandthelong-termincentiveplan,andtheexpectedincreaseintimeandservicerequiredoftheexecutive'saboveandbeyondtheirday-to-dayresponsibilitiesthatwillberequiredtoleadthesuccessfulexecutionofourstrategicprioritiesincludingtheintegrationoftheFelixtransaction.

Thespecialone-timeenhancementisallocated50%intime-basedRSAsthatvestratablyoverathree-yearperiod,and50%inperformance-basedrestrictedstockunitssubjecttorelativeTSRperformanceoverathree-yearperiod.Theperformanceconditionsarethesameasthoseforthestandardannualperformance-basedrestrictedstockunits,includingtheperformancemeasurementperiod,relativecomparatorgroupusedtobenchmarkpay,andtheperformanceandassociatedpayoutranges.TheCompanybelievesthatitisimperativetodeliverhalfofthespecialenhancementintheformofperformance-basedrestrictedstockunits.Thedecisiontoenhancethevalueoftheexistinglong-termincentiveprogram,asopposedtodevelopingaseparateprogram,wastomaintainfocuson

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drivinglong-termshareholdervaluecreationandinrecognitionofourshareholdersbroadsupportfortheexistinglong-termincentiveprogram.

Overthepastfiveyears,ourmanagementteamhasmetwithover150investorsannuallytodiscussawiderangeoftopics,includingcorporategovernance,environmental,socialandgovernance(ESG)issues,andexecutivecompensation.FeedbackfrominvestorsissharedwiththeCompensationCommitteeandisoneofmanyconsiderationsduringourexecutivecompensationprogramreview.Ourinvestorshavegenerallybeensupportiveofourcompensationprogramsandourlong-termincentiveplaninparticular.InvestorfeedbackcanandhasinfluencedchangesincompensationplandesignasevidencedbytheCompany'sadoptionofaproductiongrowthperdebtadjustedsharemetricin2019andincreasedweightingandemphasisonESGgoalsin2020.Wewillcontinuetomaintainanopendialoguewithourinvestorstoensureourprogramscontinuetoalignwiththeirinterests.

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2019SummaryCompensationTable

ThefollowingtablesetsforthcertaininformationwithrespecttothecompensationoftheNEOsearnedduringfiscalyears2019,2018,and2017.

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ExecutiveandPrincipalPosition Year Salary(1) Bonus Stock

Awards(2)

Non-EquityIncentivePlanCompensation(3)

ChangeinPensionValueand

NonqualifiedDeferred

CompensationEarnings(4)

AllOtherCompensation(5) Total

RichardE.Muncrief 2019 $ 942,308 $ 0 $ 8,247,624 $ 1,806,969 $ 0 $ 337,401 $ 11,334,302ChairmanoftheBoardand 2018 894,615 0 8,837,813 1,279,300 0 313,639 11,325,367ChiefExecutiveOfficer 2017 861,154 0 6,754,445 1,108,305 0 343,582 9,067,486

J.KevinVann 2019

516,923

0

2,554,392

743,439

0

125,717

3,940,471

ExecutiveVicePresidentand 2018 496,615 0 2,897,973 516,480 0 103,115 4,014,183ChiefFinancialOfficer 2017 475,231 0 2,187,083 444,816 0 113,604 3,220,734

ClayM.Gaspar 2019 571,154 0 3,628,941 912,704 0 187,751 5,300,550

PresidentandChief 2018 550,000 0 4,017,164 643,500 0 180,602 5,391,266OperatingOfficer 2017 514,846 0 2,733,854 484,560 0 173,779 3,907,039

BryanK.Guderian 2019

447,957

0

1,892,144

572,669

0

104,657

3,017,427

ExecutiveVicePresident 2018 434,763 0 2,253,963 443,674 0 94,441 3,226,841ofBusinessDevelopment 2017 422,154 0 1,640,312 345,744 0 103,341 2,511,551

DennisC.Cameron 2019 399,683 0 1,513,721 510,954 0 117,953 2,542,311

ExecutiveVicePresident 2018 384,519 0 1,287,984 349,913 0 104,137 2,126,553andGeneralCounsel 2017 373,308 0 1,093,541 305,739 0 118,814 1,891,402

(1) Salary:Actualsalarypaidmaydifferfromtheannualrateduetothenumberofpayperiodsduringtheyearandtheeffectivedateofsalaryincreases.

(2) StockAwards:AmountsshownforallyearsarethegrantdatefairvalueoftheawardscalculatedinaccordancewithASC718.

2019Performance-BasedRSUMaximumPotential

Executive TargetAward

MaximumAward

RichardE.Muncrief $ 5,280,748 $ 10,561,496J.KevinVann 1,386,191 2,772,382ClayM.Gaspar 2,323,527 4,647,054BryanK.Guderian 1,026,809 2,053,618DennisC.Cameron 821,450 1,642,900

(3) Non-EquityIncentivePlanCompensation:TheamountsreportedintheNon-EquityIncentivePlanCompensationcolumnreflecttheamountsearnedbyNEOsundertheCompany'sAIP.ForadiscussionoftheperformancecriteriaestablishedbytheCommitteeforawardsundertheAIP,see"ElementsofourCompensationProgram—Annual Cash Incentive"above.

(4) ChangeinPensionValueandNonqualifiedDeferredCompensationEarnings:WPXdoesnotsponsorapensionplan.AllinvestmentsintheNonqualifiedDeferredCompensationPlanareinorbasedonmutualfundsorotherpubliclyavailabletradinginstrumentswithnopremiumsorguaranteedearnings.

(5) AllOtherCompensation:AmountsshownrepresentpaymentsmadebyWPXonbehalfoftheNEOs.Thetotalincludesitemssuchas401(k)matchingandnoncontributorycontributions,WPXnonqualifiedrestorationplanemployercontributionsandWPXnonqualifieddeferredcompensationplanmatchingcontributions,andperquisites(ifapplicable).ThedetailonexecutiveandWPXcontributionsmadetobothnonqualifiedplansareincludedinthe2019NonqualifiedDeferredCompensationTable.Perquisitesincludefinancialplanningservices,anannualexecutivephysicalexam,andpersonaluseoftheCompanyaircraft.Mr.Muncrief,Mr.Vann,Mr.GasparandMr.Cameronexceeded$10,000inperquisites.Mr.Muncrief'sperquisitesincludedfinancialplanning($3,935)andpersonaluseoftheCompanyaircraft($22,441).Mr.Vann'sperquisitesincludedfinancialplanning($7,500),executivephysical($4,285)andpersonaluseoftheCompanyaircraft($12,260).Mr.Gaspar'sperquisitesincludedfinancialplanning($7,500),executivephysical($3,455)andpersonaluseoftheCompanyaircraft($6,745).Mr.Cameron'sperquisitesincludedfinancialplanning($7,500),executivephysical($3,096)andpersonaluseoftheCompanyaircraft($2,413).TheincrementalcostmethodwasusedtocalculatethepersonaluseoftheCompanyaircraft.Theincrementalcostmethodincludesvariablecostssuchasfuel,unscheduledmaintenance,airportservices,pilotmeals,pilotovernightexpensesandcatering.Thecostforfinancialplanningandexecutivephysicalsareactualexpensesreimbursedorpaid.EmployercontributionstoNonqualifiedDeferredCompensationandNonqualifiedRestorationplansonbehalfofthenamedexecutiveofficerareasfollows:Mr.Muncrief($274,025),Mr.Vann($64,672),Mr.Gaspar($133,052),Mr.Guderian($59,330),andMr.Cameron($67,943).

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2019OutstandingEquityAwards

ThefollowingtablesetsforthcertaininformationwithrespecttooutstandingequityawardsheldbytheNEOsattheendofthefiscalyear2019.

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OptionAwards StockAwards

Executive GrantDate

NumberofSecuritiesUnderlyingUnexercisedOptions(#)Exercisable

NumberofSecuritiesUnderlyingUnexercisedOptions(#)Unexercisable

EquityIncentivePlan

Awards:NumberofSecuritiesUnderlyingUnexercisedUnearnedOptions(#)

OptionExercisePrice

ExpirationDate

GrantDate(1)

Numberof

SharesorUnitsofStockthat

havenotVested

MarketValueofSharesorUnitsofStockthathavenotVested(2)

EquityIncentivePlan

Awards:NumberofUnearnedShares,UnitsofStockorOtherRights

thathavenot

Vested(3)

EquityIncentivePlan

AwardsMarketorPayoutValueofUnearnedShares,Unitsor

OtherRightsthathavenotVested

RichardE.Muncrief 5/15/2014 121,167 $ 21.45 3/3/2024 3/1/2019 236,593 $ 3,250,788 354,889 $ 4,876,175 3/2/2018 125,000 1,717,500 281,250 3,864,375 3/3/2017 58,013 797,099 261,058 3,586,937

J.KevinVann 3/1/2019 93,158 1,279,991 93,158 1,279,991 3/2/2018 53,267 731,889 79,900 1,097,826 3/3/2017 24,172 332,123 72,516 996,370 7/29/2014 23,790 21.81 7/29/2024 3/3/2014 6,476 17.47 3/3/2024 3/4/2013 7,812 14.41 3/4/2023 2/29/2012 5,857 18.16 2/28/2022 2/24/2011 3,560 16.46 2/24/2021 2/23/2010 4,131 11.75 2/23/2020

ClayM.Gaspar 3/1/2019 104,100 1,430,334 156,151 2,145,515 3/2/2018 56,818 780,679 127,840 1,756,522 3/3/2017 30,215 415,154 90,645 1,245,462

BryanK.Guderian 3/1/2019 69,006 948,142 69,006 948,142 3/2/2018 41,430 569,248 62,144 853,359 3/3/2017 18,129 249,092 54,387 747,277 3/3/2014 29,678 17.47 3/3/2024 3/4/2013 31,328 14.41 3/4/2023 2/29/2012 24,900 18.16 2/28/2022 2/24/2011 19,230 16.46 2/24/2021 2/23/2010 23,951 11.75 2/23/2020

DennisC.Cameron 3/1/2019 55,205 758,517 55,205 758,517 3/2/2018 23,674 325,281 35,511 487,921 3/3/2017 12,086 166,062 36,258 498,185 3/3/2014 18,548 17.47 3/3/2024 3/4/2013 7,812 14.41 3/4/2023 2/29/2012 8,891 18.16 2/28/2022

StockAwards

(1) Thefollowingtablereflectsthevestingdatesforassociatedtime-basedRSAgrantdates.

Grant DateVestingSchedule VestingDates3/1/2019 One-thirdoftime-basedawardsvestannually 3/2/2020,3/2/2021,3/2/20223/2/2018 One-thirdoftime-basedawardsvestannually 3/1/2019,3/2/2020,3/2/20213/3/2017 One-thirdoftime-basedawardsvestannually 3/2/2018,3/1/2019,3/2/2020

(2) ValuesarebasedonclosingstockpriceforWPXEnergyof$13.74onDecember31,2019.

(3) Allperformance-basedRSUsaresubjecttoattainmentofperformancetargetsestablishedbytheCommittee.TheannualgrantpayoutisbasedonWPX'sTSRrelativetoitspeergroupoverthethree-yearperformanceperiod.Allawardswillvestnoearlierthanthreeyearsfromthegrantdate.TheawardsincludedinthetableareoutstandingasofDecember31,2019,andfortheMarch1,2020(preliminaryestimatedperformanceattainmentof100%),March2,2019(preliminaryestimatedperformanceattainmentof100%)andMarch2,2018(preliminaryestimatedperformanceattainmentof100%).

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2019GrantsofPlan-BasedAwards

ThefollowingtablesetsforthcertaininformationwithrespecttoawardspayableunderWPX'sannualcashincentiveprogramandRSUandRSAswithrespecttoWPXstockawardsmadeduringthefiscalyear2019totheNEOs.

2019WPXOptionExercisesandStockVested

ThefollowingtablesetsforthcertaininformationwithrespecttooptionstoacquirethestockofWPXexercisedbytheNEOsandstockthatvestedduringthefiscalyear2019totheNEOs.

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AllOtherStock

Awards:NumberofSharesofStockorUnits(3)

AllOtherOptionAwards

NumberofSecuritiesUnderlyingOptions

EstimatedFuturePayoutsUnderNon-EquityIncentive

PlanAwards(1)

EstimatedFuturePayoutsUnderIncentivePlan

Awards(2)

ExerciseorBasePriceofOptionAwards

GrantdateFairValueofStock

andOptionAwards(4)

GrantDate

Executive Threshold Target Maximum Threshold Target Maximum RichardE.Muncrief 3/1/2019 $ 570,000 $ 1,140,000 $ 2,280,000 177,445 354,889 709,778 $ 5,280,748

236,593 2,966,876J.KevinVann 3/1/2019 234,000 468,000 936,000 46,579 93,158 186,316 1,386,191

93,158 1,168,201ClayM.Gaspar 3/1/2019 287,500 575,000 1,150,000 78,076 156,151 312,302 2,323,527

104,100 1,305,414BryanK.Guderian 3/1/2019 180,000 360,000 720,000 34,503 69,006 138,012 1,026,809

69,006 865,335DennisC.Cameron 3/1/2019 160,000 320,000 640,000 27,603 55,205 110,410 821,450

55,205 692,271

(1) Non-equityIncentivePlanAwardsarefromWPX's2019AIP.Atthreshold,the2019AIPawardswouldbe50%oftarget.Thetargetamountisbaseduponattaining100%oftargetperformancegoalsforallsixperformancemetrics.ThemaximumamounttheNEOscanreceiveis200%oftheirAIPtarget.ThesetargetsreflecttheNEOssalaryasofFebruary16,2019,andtheapprovedincentivetargets.TheactualAIPawardiscalculatedbasedoneligibleearningsduringtheyearoftheaward.

(2) Representsperformance-basedRSUsgrantedunderWPX's2013IncentivePlan.Performance-basedRSUscanbeearnedoverathree-yearperiodonlyiftheestablishedperformancetargetismetandtheNEOisemployedonthevestingdate,subjecttocertainexceptionssuchastheexecutive'sdeathordisability.Theseshareswillbedistributednoearlierthanthethirdanniversaryofthegrantotherthanduetoaterminationuponachangein-control.Ifperformanceplangoalsareexceeded,theNEOcanreceiveupto200%oftarget.Ifplanthresholdgoalsarenotmet,theNEO'sawardsarecancelledintheirentirety.

(3) Representstime-basedRSAsgrantedunderWPX's2013IncentivePlan.One-thirdoftime-basedawardsvestannuallyon3/2/2020,3/2/2021,and3/2/2022.

(4) AmountsreflectagrantdatefairvaluederivedfromaMonteCarlopricingmodel,consistentwithASC718.

OptionAwards StockAwards

Executive

NumberofShares

AcquiredonExercise

ValueRealizedonExercise

NumberofShares

AcquiredonVesting

ValueRealizedonVesting

RichardE.Muncrief — — 920,513 $ 11,553,233J.KevinVann 2,019 $ 13,770 273,026 3,428,007ClayM.Gaspar — — 336,402 4,223,027BryanK.Guderian 11,710 79,862 149,953 1,883,725DennisC.Cameron — — 107,256 1,346,884

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2019NonqualifiedDeferredCompensation

Thefollowingtablesetsforthcertaininformationwithrespecttononqualifieddeferredcompensationduringthefiscalyear2019totheNEOs.

See"ElementsofourCompensationProgram—Benefits and Limited Perquisites"foradiscussionofcompensationthatmaybedeferred.Distributionsareavailablenosoonerthansixmonthsafterseparationfromservice,withchoicesoflumpsumoruptotenannualinstallments.Scheduledin-servicedistributionsarealsoavailable.

Change-in-ControlAgreements

WPXhasenteredintochange-in-controlagreementswithcertainofficers,includingeachofourNEOs.Theprovisionsofouragreementsaredescribedbelow.Thedefinitionsofwordsinquotationsarealsoprovidedbelow.

Ifa"change-in-control"occursandwithintwoyearsfollowingsuchchange-in-control(i)theemploymentofanyNEOisterminatedotherthanfor"cause,""disability,"death,ora"disqualificationdisaggregation,"or(ii)anNEOresignsfor"goodreason,"suchNEOisentitledtothefollowing:

• Accruedbutunpaidbasesalary,accruedearnedbutunpaidcashincentive,accruedbutunpaidpaidtimeoff,andanyotheramountsorbenefitsduebutnotpaid(lumpsumpayment);

• Proratedannualbonuspaidattargetfortheyearofseparationthroughtheterminationdate(lumpsumpayment);

• Aseveranceamountcomprisedofeither(a)threetimesinthecaseofourCEO,or(b)twotimesinthecaseofourotherNEOsthesumoftheexecutive'sbasesalaryplusanannualbonusamountequaltohis/heraverageactualAIPpaymentoverthepastthreeyears,assumingtheincumbenthasbeeninacomparablerole/levelinthecompanyduringthatperiod.(Iftheincumbenthasbeeninacomparablerole/levelforonlytwoyears,thentheaverageactualAIPpaymentwouldbecalculatedusingtheaverageofthosetwoyears.Similarly,iftheincumbenthasbeeninasimilarrole/levelforonlyoneyear,thentheaverageactualAIPpaymentwouldbeactualAIPearnedforthatoneyear.Iftheincumbenthasnotoccupiedanexecutiveemploymentclassification,averageactualAIPpaymentwouldbecalculatedusing75%oftheexecutive'sbasesalary);

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Executive

ExecutiveContributionsinLastFY

RegistrantContributionsinLastFY(1)

AggregrateEarningsinLast

FY(2)

AggregateWithdrawals/Distributions

AggregateBalance

atLastFYE RichardE.Muncrief $ 312,398 $ 274,025 $ 649,390 0 $ 3,789,404J.KevinVann 0 64,672 28,844 0 388,109ClayM.Gaspar 72,879 133,052 198,776 0 1,107,632BryanK.Guderian 0 59,330 52,962 0 462,730DennisC.Cameron 44,976 67,943 36,907 0 490,582

(1) IncludedintheSummaryCompensationTableundercolumnlabeledAllOtherCompensation.TherearenoncontributoryandmatchingcontributionsmadebytheCompanytoitsnonqualifiedplansonbehalfofeachNEOlistedinthetable.

(2) Adiversearrayofinvestmentcreditingoptionsisavailabletoparticipantsthatfollowactualmarketinvestments.Themenuissuitedtovariablelevelsofrisktoleranceandpreferredassetclasses.Choicesmaybemadeasoftenasdaily.

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• ContinuedeligibilitytoelectcoverageunderCOBRAforsolongastheNEOelectscoverageor18monthsfromthetermination,whicheverisless,plusalumpsumcashpaymentequaltothecostofthecontinuedCOBRAmedicalcoveragefor18months;

• AllrestrictionsonstockoptionsheldbytheNEOwilllapse,andtheoptionswillvestandbecomeimmediatelyexercisable.Optionsareexercisableuntiltheearlierof18monthsfromtheeventdateortheoriginalexpirationdate;

• Allrestrictedstockwillvestandwillbepaidoutonlyinaccordancewiththetermsoftherespectiveawardagreements;

• Continuedparticipationinthedirectors'andofficers'liabilityinsuranceforsixyearsoranylongerknownapplicablestatuteoflimitationsperiod;

• IndemnificationassetforthundertheCompany'sbylaws;and

• Outplacementbenefitsatacostnotexceeding$25,000.

Ouragreementsprovidea"bestnet"provisionprovidingtheNEOswiththebetteroftheirafter-taxbenefitcappedatthesafeharboramountortheirbenefitpaidinfullsubjectingthemtopossibleexcisetaxpayments.

IfanNEO'semploymentisterminatedfor"cause"duringtheperiodbeginninguponachange-in-controlandcontinuingfortwoyears,theNEOisentitledtoaccruedbutunpaidbasesalary,accruedearnedbutunpaidcashincentive,accruedbutunpaidpaidtimeoff,andanyotheramountsorbenefitsduebutnotpaid(lumpsumpayment).

OuragreementswithourNEOsusethefollowingdefinitions:

"Cause"meansanNEO's:

• Convictionoforpleaofnolocontenderetoafelonyoracrimeinvolvingfraud,dishonestyormoralturpitude;

• Willfulorrecklessmaterialmisconductintheperformanceofhis/herdutiesthathasanadverseeffectontheCompanyoranyofitssubsidiariesoraffiliates;

• WillfulorrecklessviolationordisregardoftheCodeofBusinessConductoftheCompanyorthepoliciesoftheCompany;or

• Habitualorgrossneglectofduties.

Causegenerallydoesnotincludebadjudgmentornegligence(otherthanhabitualneglectorgrossnegligence);actsoromissionsmadeingoodfaithafterreasonableinvestigationbytheNEO;oractsoromissionswithrespecttowhichtheBoardofDirectorscoulddeterminethattheNEOhadsatisfiedthestandardsofconductforindemnificationorreimbursementunderourbylaws,indemnificationagreement,orapplicablelaw;orfailure(despitegoodfaithefforts)tomeetperformancegoals,objectives,ormeasuresforaperiodbeginninguponachange-in-controlandcontinuingfortwoyears.AnNEO'sactorfailuretoact(exceptasrelatestoaconvictionorpleaofnolocontenderedescribedabove),whendoneingoodfaithandwithareasonablebeliefafterreasonableinvestigationthatsuchactionornon-actionwasinthebestinterestoftheCompanyoritsaffiliateorrequiredbylawshallnotconstitutecauseiftheNEOcurestheactionornon-actionwithintenbusinessdaysofnotice.Furthermore,noactorfailuretoactwillbecauseiftheNEOactedundertheadviceoftheCompany'scounselorasrequiredbythelegalprocess.

"Change-in-control"means:

• Anypersonorgroup(otherthananaffiliateoftheCompanyoranemployeebenefitplansponsoredbytheCompanyoritsaffiliates)becomesabeneficialowner,assuchtermisdefined

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undertheExchangeAct,of25%ormoreofthecommonstockoftheCompanyor25%ormoreofthecombinedvotingpowerofallsecuritiesentitledtovotegenerallyintheelectionofdirectorsoftheCompany("VotingSecurities");

• TheCompany'sdirectorsasofadateoftheagreement(the"WPXIncumbentDirectors")anddirectorsapprovedafterthatdatebyatleasttwo-thirdsoftheWPXIncumbentDirectorsceasetoconstituteamajorityofthedirectorsoftheCompany;

• Consummationofanymerger,reorganization,recapitalization,consolidationorsimilartransaction("ReorganizationTransaction"),otherthanaReorganizationTransactionthatresultsinthepersonswhowerethedirectorindirectownersofoutstandingcommonstockandVotingSecuritiesoftheCompanypriortothetransactionbecoming,immediatelyafterthetransaction,theownerofatleast65%ofthethen-outstandingcommonstockandVotingSecuritiesrepresentingatleast65%ofthecombinedvotingpowerofthethen-outstandingVotingSecuritiesofthesurvivingcorporationinsubstantiallythesamerespectiveproportionsassuchpersons'ownershipimmediatelybeforesuchReorganizationTransaction;or

• ApprovalbythestockholdersoftheCompanyofthesaleorotherdispositionofallorsubstantiallyalloftheconsolidatedassetsoftheCompanyorthecompleteliquidationoftheCompanyotherthanatransactionthatwouldresultin(i)arelatedpartyowningmorethan50%oftheassetsthatwereownedbytheCompanyimmediatelypriortothetransactionor(ii)thepersonswhowerethedirectorindirectownersofoutstandingcommonstockoftheCompanyandVotingSecuritiespriortothetransactioncontinuingtoown,directlyorindirectly,50%ormoreoftheassetsthatwereownedbytheCompanyimmediatelypriortothetransaction.Achange-in-controlwillnotoccuriftheNEOagreesinwritingpriortoaneventthatsuchaneventwillnotbeachange-in-control.

"Disability"meansaphysicalormentalinfirmitythatimpairstheNEO'sabilitytosubstantiallyperformhis/herdutiesfor12monthsormoreorforwhichhe/sheisreceivingincomereplacementbenefitsfromaCompanyplanfornotlessthanthreemonthsbecauseofanimpairmentthatisexpectedtolastfornotlessthan12months.

"Disqualificationdisaggregation"means:

• TheterminationofanNEO'semploymentfromtheCompanyoranaffiliatebeforeachange-in-controlforanyreason;or

• TheterminationofanNEO'semploymentbyasuccessor(duringtheperiodbeginninguponachange-in-controlandcontinuingfortwoyears),iftheNEOisemployedinsubstantiallythesamepositionandthesuccessorhasassumedtheCompany'schange-in-controlagreement.

"Goodreason"means,generally,amaterialadversechangeintheNEO'stitle,positionorresponsibilities,areductionintheNEO'sbasesalary,amaterialreductionintheNEO'sannualbonus,requiredrelocation,amaterialreductioninthelevelofaggregatecompensationorbenefitsnotapplicabletotheNEO'speers,asuccessorcompany'sfailuretohonortheagreementorthefailureoftheCompany'sBoardofDirectorstoterminateanemployeewithin90daysofprovidingsuchemployeeofwrittennoticeofanactoromissionconstituting"cause."

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TerminationScenarios(6)

CompensationCommitteeReport

TheCommitteehasreviewedanddiscussedwithmanagementthesectionaboveentitled"CompensationDiscussionandAnalysis."Basedonthisreviewanddiscussion,theCommitteerecommendedtotheBoardthattheCompensationDiscussionandAnalysisbeincludedinthe2020ProxyStatement.

Robert Herdman

Henry E. Lentz, Chairman

Kimberly S. Lubel

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Executive Payment ForCause(1) Retirement(2)

Deathand

Disability(3)

Notfor

Cause(4) CIC(5) RichardE.Muncrief StockOptions 0 0 0 0 0

StockAwards 0 6,761,288 12,526,674 12,526,674 18,092,873 CashSeverance 0 0 0 4,508,137 6,762,205 AnnualIncentive 1,130,770 1,130,770 1,130,770 1,130,770 Outplacement 0 0 0 25,000 25,000 Health&Wellness 0 0 0 17,345 26,018 Total 0 $ 7,892,058 $ 13,657,444 $ 18,207,926 $ 26,036,866

J.KevinVann StockOptions 0 NA 0 0 0 StockAwards 0 NA 4,217,738 4,217,738 5,718,190 CashSeverance 0 NA 0 1,559,933 2,079,910 AnnualIncentive NA 465,231 465,231 465,231 Outplacement 0 NA 0 25,000 25,000 Health&Wellness 0 NA 0 24,790 37,185 Total 0 NA $ 4,682,969 $ 6,292,692 $ 8,325,516

ClayMGaspar StockOptions 0 NA NA NA NA StockAwards 0 NA 5,328,857 5,328,857 7,773,666 CashSeverance 0 NA 0 1,756,530 2,342,040 AnnualIncentive 0 NA 571,154 571,154 571,154 Outplacement 0 NA 0 25,000 25,000 Health&Wellness 0 NA 0 24,790 37,185 Total 0 NA $ 5,900,011 $ 7,706,331 $ 10,749,045

BryanK.Guderian StockOptions 0 0 0 0 0 StockAwards 0 1,420,124 3,186,607 3,186,607 4,315,761 CashSeverance 0 0 0 1,307,639 1,743,519 AnnualIncentive 0 358,366 358,366 358,366 358,366 Outplacement 0 0 0 25,000 25,000 Health&Wellness 0 0 0 24,790 37,185 Total 0 $ 1,778,490 $ 3,544,973 $ 4,902,402 $ 6,479,831

DennisC.Cameron StockOptions 0 0 0 0 0 StockAwards 0 930,919 2,180,778 2,180,778 2,994,482 CashSeverance 0 0 0 1,123,021 1,497,361 AnnualIncentive 0 319,746 319,746 319,746 319,746 Outplacement 0 0 0 25,000 25,000 Health&Wellness 0 0 0 17,345 26,018 Total 0 $ 1,250,665 $ 2,500,524 $ 3,665,890 $ 4,862,607

(1) ForCause:ForanNEOwhoisterminatedforcause,allunvestedstockoptionsandstockawardscancel.

(2) Retirement:IfanNEOretiresfromWPX,apro-ratedportionofanyperformance-basedRSUswillvestontheoriginalvestingdateiftheCommitteecertifiesthattheperformancegoalsweremet.

(3) Death&Disability:IfanNEOdiesorbecomesdisabled,thenallunvestedstockoptionswillfullyaccelerate.Allunvestedtime-basedRSAswillfullyaccelerateandapro-ratedportionofanyperformance-basedRSUswillvestontheoriginalvestingdateiftheCommitteecertifiesthattheperformancegoalsweremet.

(4) NotforCause:ForanNEOwhoisinvoluntarilyterminatedandreceivesseveranceorforanNEOwhosejobisoutsourcedwithnocomparableinternaloffer,allunvestedtime-basedRSAswillfullyaccelerateandapro-ratedportionofanyperformance-basedRSUswillvestontheoriginalvestingdateiftheCommitteecertifiesthattheperformancegoalsweremet.However,unlessanNEOisretirementeligible,allunvestedstockoptionswillcancel.Undertheindividualstockoptionagreements,ifanNEOisretirementeligible,thenallunvestedstockoptionswillfullyaccelerate.

(5) CIC:see"Change-in-ControlAgreements"sectionabove.

(6) EligibilitytoparticipateinourexecutiveseveranceplayplanisdeterminedbytheCommitteeinthecaseofanexecutiveofficer.TheBoardofDirectorsmakesdeterminationsofwhetheranemployeehasbeenterminatedforcauseunderourchange-in-controlagreements.

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DirectorCompensation

TheCommitteeisresponsibleforreviewingthecompensationfornon-employeedirectorsannuallyandrecommendinganychangestotheBoardofDirectors.TheobjectiveofthisannualreviewistodeterminewhetherourdirectorcompensationisappropriateinrelationtoothercomparableU.S.companiesandiscompetitivetoattractandretainthemostqualifiedmembersfortheBoardofDirectors.

Ournon-employeedirectorsreceivecompensationintheformofbothcashandequity,withamuchgreaterproportionofthetotalcompensationdeliveredintheformofrestrictedstockthanincash.Thisrestrictedstockvestsoneyearafterthedateofgrant.Theweightingtowardequityhelpstoaligntheinterestsofourdirectorswithourstockholders.

Tofurtheraligntheinterestsofourdirectorswiththelong-terminterestsofourstockholders,ourstockownershipguidelinesrequireeachdirectortoholdcommonstockofWPXequaltoatleastfivetimestheannualcashretainerpaidtodirectors.Undertheguidelines,sharesownedoutright,restrictedstockawards,andequitydeferredunderournonqualifieddeferredcompensationplanarecountedasowned.If,ontheannualcompliancedateofFebruary1ofeachyear,adirectordoesnotownsharesequaltofivetimestheannualcashretainer,thatdirectorisrequiredtoretain50%ofanyWPXequityacquiredthroughthevestingofrestrictedstock,netoftaxes,untilthenextFebruary1compliancedatewhenhisorherWPXstockownershipmeetstherequiredmultipleofpay.Currentlythreedirectors—ValerieWilliams(electedtotheBoardofDirectorsinMarch2018),D.MartinPhillipsWilliams(electedtotheBoardofDirectorsMarch6,2020)andDouglasE.Swanson,Jr.Williams(electedtotheBoardofDirectorsonMarch6,2020)—donotholdtheamountofstockrequiredbyourstockownershipguidelines.

Underournonqualifieddeferredcompensationplan,non-employeedirectorsmaydeferupto100%oftheirannualcashretainerand/or100%oftheirannualequitygrant.AnycashorequitydeferredispaidwhenthedirectorleavestheBoardofDirectors.

Thefollowingtablesummarizesourdirectorcompensationprogramfor2019andprovidesabreakdownofdirectorcompensationintheformofcashversusequity.

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DollarValue

PercentageofRetainer

BoardMembers AnnualCashRetainer $ 75,000 28%AnnualEquityRetainer—RestrictedStock 195,000 72%TotalAnnualRetainer 270,000

CommitteeChairs CompensationCommittee&Nominating,Governance,EnvironmentalandPublicPolicyCommittee 15,000 AuditCommittee 20,000

LeadDirector AdditionalAnnualCashRetainer 30,000

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DirectorCompensationTable

ThefollowingtablesetsforthcertaininformationwithrespecttothecompensationoftheBoardofDirectorsearnedduringfiscalyear2019.

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Director

FeesEarnedorPaidinCash

StockAwards(3)(4)

OptionAwards

Non-EquityIncentivePlanCompensation

ChangeinPensionValue

andNonqualifiedDeferred

CompensationEarnings

AllOtherCompensation(5) Total

JohnA.Carrig $ 0 $ 0 $ 0 $ 0 $ 0 $ 290,000 $ 290,000RobertK.Herdman 75,000 0 0 0 0 196,860 271,860KeltKindick 120,000 195,000 0 0 0 0 315,000KarlF.Kurz 0 0 0 0 0 270,000 270,000HenryE.Lentz 90,000 195,000 0 0 0 0 285,000KimberlyS.Lubel 75,000 195,000 0 0 0 0 270,000ValerieWilliams 75,000 0 0 0 0 195,000 270,000DavidF.Work 75,000 0 0 0 0 196,298 271,298WilliamG.Lowrie(1) 31,250(2) 0 0 0 0 1,613 32,863

(1) Mr.LowrieretiredfromtheBoardofDirectorsatthe2019AnnualMeetingheldonMay16,2019.

(2) Representsaproratedretainerforserviceduring2019priortoretiringfromtheBoardofDirectors.

(3) Representsthegrantdatefairvalueofthe2019stockawardsbasedona$13.00persharegrant-datestockprice.

Director GrantDate

NumberofSharesGranted

GrantDateFairValue

JohnA.Carrig 5/16/2019 15,000 $ 195,000RobertK.Herdman 5/16/2019 15,000 195,000KeltKindick 5/16/2019 15,000 195,000KarlF.Kurz 5/16/2019 15,000 195,000HenryE.Lentz 5/16/2019 15,000 195,000KimberlyS.Lubel 5/16/2019 15,000 195,000ValerieWilliams 5/16/2019 15,000 195,000DavidF.Work 5/16/2019 15,000 195,000

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CEOPayRatio

AsrequiredbytheDodd-FrankWallStreetReformandConsumerProtectionActandRegulationS-K,weareprovidingthefollowinginformationabouttherelationshipoftheannualtotalcompensationofourmedianemployeetotheannualtotalcompensationofourCEO.

ThepayratiocalculatedbytheCompanyisareasonableestimatedeterminedinaccordancewithSECrulesandmethodsfordisclosure.Duetoestimates,assumptions,adjustments,andstatisticalsamplingpermittedundertherules,payratiodisclosuresmayinvolveadegreeofimprecisionandmaynotbeconsistentwiththemethodologiesincorporatedbyothercompanies.

CEOPayRatioMethodology

For2019,were-evaluatedourmedianemployeeduetothepreviousmedianemployeeexitingthecompanyandcalculatedtheratiopursuanttothemethodologydescribedbelow,asofOctober31,2019.Toidentifythemedianofthetotalannualcompensationofallouremployees,wetookthefollowingsteps:

• WeutilizedadeterminationdateofOctober31,2019,toenableustoidentifythemedianemployeeinareasonablyefficientandeconomicalmanner;

• Ouremployeepopulationconsistedof620outof620employees,includingfull-time,part-time,andtemporaryemployees;

• Weutilizednocostoflivingadjustmentsinthecompensationcalculation;

• Toidentifythemedianemployee,weusedannualizedbasesalaryastheconsistentlyappliedcompensationmeasure;and

• Onceweidentifiedthemedianemployee,wecalculatedthatemployee'stotalcompensationusingthesamemethodologyasrequiredforthesummarycompensationtabledisclosed

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(4) Thenon-employeedirectorshavethefollowingstockandoptionawardsoutstandingasofDecember31,2019.

Director

NumberofOutstandingOptionAwards

NumberofOutstandingStockAwards

JohnA.Carrig 91,848RobertK.Herdman 91,848KeltKindick 15,000KarlF.Kurz 31,009HenryE.Lentz 15,000KimberlyS.Lubel 15,000ValerieWilliams 26,368DavidF.Work 73,703

(5) Theamountsdisclosedinthe"AllOtherCompensation"columnrelatetodeferredFeesEarnedorPaidinCashanddeferredStockAwards(atgrantdatevalue)and,inthreeinstances,thepersonaluseoftheCompanyaircraft.

Year

Mr.Muncrief'sTotal

Compensation

MedianEmployeeTotal

Compensation

PayRatioofCEO

CompensationtoMedianEmployee

2019 $ 11,334,302 $ 155,484 73:1

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elsewhereinthisProxyStatement.WecalculatedMr.Muncrief'stotalcompensationusingthesamesummarycompensationtablemethodology.

Webelievetheforegoingpayratiodisclosure,includingbutnotlimitedtoanyassumptions,estimates,adjustments,methodologiesandexistinginternalrecordsusedtoidentifyourmedianemployee,isareasonableestimatecalculatedinamannerconsistentwithSECItem402(u)ofRegulationS-K.TheSECrulesforidentifyingthemedianemployeeandcalculatingthatemployee'sannualtotalcompensationallowcompaniestomakereasonableassumptionsandestimates,andtoapplyavarietyofmethodologiesandexclusionsthatreflecttheircompensationpractices.Asaresult,thepayratioreportedbyothercompaniesmaynotbecomparabletothepayratioreportedabove,asothercompaniesmayhavedifferentcompensationpractices,andmayutilizedifferentassumptions,estimates,methodologiesandexclusionsincalculatingtheirownpayratios.

EQUITYCOMPENSATIONPLANINFORMATION

ThefollowingtableprovidesinformationconcerningWPXcommonstockthatmaybeissuedupontheexerciseofoptions,warrantsandrightsundertheWPXEnergy,Inc.2013IncentivePlan,asamended,asofDecember31,2019.

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PlanCategory

NumberofSecurities

tobeIssueduponExerciseofOutstandingOptions,

WarrantsandRights

Weighted-AverageExercisePriceofOutstandingOptions,

Warrants,andRights(1)

NumberofSecuritiesRemainingAvailable

forFutureIssuanceUnderEquityCompensation

Plans(ExcludingSecurities

Reflectedinthe1stColumnofThisTable)

Equitycompensationplansapprovedbysecurityholders 696,928 $ 16.84 8,332,103

(1) Excludesthesharesissuableuponthevestingofrestrictedstockunitsandrestrictedstockawardsincludedinthefirstcolumnofthistableforwhichthereisnoweighted-averageexerciseprice.

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PROPOSAL2—ADVISORYVOTEONEXECUTIVECOMPENSATION

Atour2019annualmeetingofstockholders,ourstockholderselectedtohaveanadvisoryvoteonexecutivecompensationeveryyear.Weareaskingourstockholderstoprovideanadvisory,nonbindingvotetoapprovethecompensationawardedtoourNEOsfor2019.Thiscompensationisdescribedinthe"ExecutiveCompensation"sectionandincludestheExecutiveSummary,CompensationDiscussionandAnalysis,andthecompensationtablesandrelateddisclosures.

AsdiscussedintheCompensationDiscussionandAnalysis,ourexecutivecompensationprogramisdesignedtofocusourexecutiveofficersonourstrategyofgrowingprofitableproductionandreserveswhilekeepingourunitcostdown,generatingpositivecashflow,andmaintainingadequateliquiditytomeetbusinessobjectives.Weemployperformancemetricstiedtoourstrategysoweencourageperformancethatcreateslong-termvalueforourstockholders.TheCompensationCommitteeoverseesourexecutivecompensationprogramandmaintainsafocusonpayingourexecutiveofficersforperformance,notonlythroughtheuseofperformancemetricstiedtoourstrategybutalsobyusingamixofcompensationelementsthatemphasizespaythatvariesbasedonWPX'sperformance.

In2019,wereceivedafavorableadvisoryvotewithapproximately97percentoftheCompany'ssharesrepresentedandeligibletovoteattheannualstockholdersmeetingvotinginfavoroftheexecutivecompensationprogram.WehavemadenosignificantchangestothestructureoftheCompany'sexecutivecompensationprogramasaresultofthevote.

Highlightsofourexecutivecompensationprograminclude:

• Themajorityofcompensationpaidtoourexecutivesisequity-based;

• Weuseabalancedapproachtoperformancemetricstofocusexecutiveofficersonexecutingourstrategywhilediscouragingexcessiverisk-taking;

• Ourstockownershipguidelinesencourageourexecutiveofficerstohaveasignificantstakeinourlong-termsuccessandaligntheirinterestswithstockholderinterests;

• TheCompensationCommitteeregularlyreviewsshareutilization,overhanglevels,andtheannualrunrate;

• Ourrecoupmentpolicyrequiresrecoveryofallperformance-basedincentivepaymentsfromexecutiveofficersfoundtoberesponsibleforfraudorintentionalmisconductthatresultsinasignificantrestatementofourfinancialresultsaswellasrecoupmentfromallotherexecutiveofficersofanyamountspaidinexcessoftheawardthatwouldhavebeenpaidbasedontherestatedfinancialresults;

• Ourchange-in-controlagreementshavea"doubletrigger"forpayments,equityawards,andotherbenefitssotheyarenottriggeredsolelyonachange-in-control;

• WeprovideverylimitedperquisitestoourNEOs;

• TheCompensationCommitteeengagesanindependentcompensationconsultanttoprovidecompetitivemarketdataforourexecutiveofficersandtoleaddiscussionsontrendswithinourindustry;

• Whenmakingcompensationdecisions,theCompensationCommitteeusestallysheetstoconsidertotaloutstandingequityvalueandestimatesofamountsthatwouldbepaidinvariousterminationscenarios;

• Ourperformance-basedRSUprogramprohibitspayoutsinexcessof100%ifabsoluteTSRisnegative,regardlessoftherankingofourTSRrelativetopeers;

• Wedonotprovideemploymentcontractstoourexecutiveofficers;

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• Wedonotprovidegross-upstocoverpersonalincometaxesthatpertaintoexecutiveorseverancebenefitsorthelimitedperquisitesthatweoffer;

• Ourinsidertradingpolicyprohibitsshortsalesofourcommonstockandtheuseofequivalentderivativesecuritiesbyourdirectorsandexecutiveofficers(anti-hedgingpolicy);

• Wedonotpermitourdirectorsorexecutiveofficerstoengageinmargintradingofourstockortouseoursecuritiesascollateralforaloan(anti-pledgingpolicy);and

• Ourincentiveplanprohibitstherepricingandbackdatingofstockoptionswithoutstockholderapproval.

Weareaskingourstockholderstoindicatetheirsupportforourexecutivecompensationprograms.WebelievetheinformationprovidedinthisProxyStatementdemonstratesourexecutivecompensationprogramisdesignedandoperatestoaligntheinterestsofourexecutiveofficerswiththeinterestsofourstockholderstocreatevalueoverthelong-term.

Whilethisvoteisadvisoryandnotbinding,wewillconsidertheoutcomeofthevote,alongwithotherrelevantfactors,whenmakingfutureexecutivecompensationdecisions.

Forthereasonssetforthabove,theBoardrecommendsthatyouvoteFORthefollowingresolution:

RESOLVEDthatthestockholdersapprove,onanadvisorybasis,thecompensationpaidtotheNEOs,asdisclosedinthisproxystatementpursuanttothecompensationdisclosurerulesoftheSecuritiesandExchangeCommission,includingtheCompensationDiscussionandAnalysis,thecompensationtables,andrelatednarrativediscussion.

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CERTAINRELATIONSHIPSANDTRANSACTIONS

AgreementsEnteredintoinConnectionwiththeAcquisitionofFelixEnergyHoldingsII,LLC

Securities Purchase Agreement

OnDecember15,2019,theCompanyandFelixHoldingsenteredintoaSecuritiesPurchaseAgreementpursuanttowhichtheCompanywouldpurchase,andFelixHoldingswouldsell,alloftheissuedandoutstandingmembershipinterestsofFelixEnergyHoldingsII,LLC(the"Membership Interests").FelixHoldingsisaffiliatedwithEnCapEnergyCapitalFundX,L.P.("EnCap"),anentityatwhichBoardmembersD.MartinPhillipsandDouglasE.Swanson,Jr.areprincipals.ThepurchasepricefortheMembershipInterestswas$2,500,000,000,consistingofcashequalto$900,000,000and152,963,671unregistered,fullypaid,validlyissuedandnonassessablesharesoftheCompany'scommonstock.ThetransactionscontemplatedbytheSecuritiesPurchaseAgreementclosedonMarch6,2020.

Stockholders Agreement

OnMarch6,2020,theclosingdateforthetransactionscontemplatedbytheSecuritiesPurchaseAgreement,theCompany,FelixHoldings,EnCapandcertainotherpartiesenteredintoaStockholdersAgreementpursuanttowhichFelixHoldingshastherighttonominateuptotwodirectorsforappointmenttotheBoard.FelixHoldings'righttonominatedirectorsissubjectto,amongotherthings,FelixHoldingsandcertainrelatedpartiescontinuingtoholdaminimumamountofsharesoftheCompany'soutstandingcommonstockandtheindividualnomineesbeingreasonablyacceptabletotheNGEPPCommitteeandnotprohibitedbylaw.UntilthedatewhenFelixHoldingsisnolongerentitledtodesignatedirectorstotheBoard,FelixHoldingswillcauseallvotingsecuritiesoftheCompanyheldbyitoritsrelatedpartiestobevotedinfavorofalldirectornomineesnominatedbytheNGEPPCommittee,againstanyothernominees,andagainsttheremovalofanydirector(otherthanadirectorithasdesignatedtotheBoard)unlesstheNGEPPCommitteerecommendsinfavorofsuchremoval.

Foraperiodofonehundredandeighty(180)daysfromtheMarch6,2020closingdate,theStockholdersAgreementprohibitsFelixHoldingsfromtransferringordisposingofanyeconomic,votingorotherrightsintwo-thirdsoftheCompany'scommonstockissuedtoFelixHoldingspursuanttotheSecuritiesPurchaseAgreement,otherthancertainpermittedtransfers.Theremainingone-thirdofthesharesoftheCompany'scommonstockissuedtoFelixHoldingswillnotbesubjecttotransferrestrictionsimposedbytheStockholdersAgreement.

EnCap,theindirectmajorityholderofFelixHoldings,hasagreedtocustomarystandstillrestrictionspursuanttowhich,amongotherthings,EnCapwillnotacquire,agreeorproposetooffertoacquire(includingthroughanyhedgingorothersimilartransaction)anysharesoftheCompany'scommonstockorsecuritiesthatareconvertibleorexchangeableinto(orexercisablefor)sharesoftheCompany'scommonstockforaperiodofthirty-six(36)monthsfollowingtheMarch6,2020closingdate,exceptforanytimeduringsuchthirty-six(36)monthperiodduringwhichFelixHoldingsanditsrelatedholderscollectivelybeneficiallyownlessthantenpercent(10%)oftheoutstandingsharesoftheCompany'scommonstock.

Registration Rights Agreement

OnMarch6,2020,theCompany,FelixHoldingsandcertainotherpersonsenteredintoaRegistrationRightsAgreementpursuanttowhich,amongotherthings,theCompanyisrequiredtofilewiththeSecuritiesandExchangeCommissionaregistrationstatementonFormS-3thatregistersforresalethesharesoftheCompany'scommonstockissuedtoFelixHoldingsinconnectionwiththetransactionscontemplatedbytheSecuritiesPurchaseAgreementand,subjecttocertainrestrictions,toconductunderwrittenofferingsupontherequestofcertainholdersofsuchcommonstock.The

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RegistrationRightsAgreementalsoprovidespiggybackregistrationrightstocertainholdersofsuchcommonstock.

ProceduresforReviewandApprovalofRelated-PartyTransactions

TheBoardhasadoptedpoliciesandprocedureswithrespecttorelated-persontransactionsaspartoftheAuditCommitteecharter.Anyproposedrelated-persontransactioninvolvingamemberoftheBoardortheChiefExecutiveOfficermustbereviewedandapprovedbythefullBoard.TheAuditCommitteereviewsproposedtransactionswithanyotherrelatedpersons,promoters,andcertaincontrolpersons.IfitisimpracticaltoconveneanAuditCommitteemeetingbeforearelated-persontransactionoccurs,thechairofthecommitteemayreviewthetransactionalone.

Nodirectormayparticipateinanyreview,considerationorapprovalofanyrelated-persontransactionwithrespecttowhichsuchdirectororanyofhisorherimmediatefamilymembersistherelatedperson.TheAuditCommitteeoritschair,ortheBoard,asthecasemaybe,ingoodfaith,mayapproveonlythoserelated-persontransactionsthatarein,ornotinconsistentwith,WPXEnergy'sbestinterestsandthebestinterestsofourstockholders.Inconductingareviewofwhetheratransactionis,orisnotinconsistentwith,thebestinterestofWPXEnergyanditsstockholders,theAuditCommitteeoritschair,ortheBoard,asthecasemaybe,willconsiderthebenefitsofthetransactiontotheCompany,theavailabilityofothersourcesforcomparableproductsorservices,thetermsofthetransaction,thetermsavailabletounrelatedthirdpartiesandtoemployeesgenerally,andthenatureoftherelationshipbetweentheCompanyandtherelatedparty,amongotherthings.

COMPENSATIONCOMMITTEEINTERLOCKSANDINSIDERPARTICIPATION

Forallorportionsoffiscal2019,Messrs.Lentz,HerdmanandWorkandMs.LubelservedontheCompensationCommittee.NoneoftheseindividualshasbeenanofficeroremployeeoftheCompanyoranyofitssubsidiariesatanytime.In2019,noneofourexecutiveofficersservedasamemberoftheboardofdirectorsorcompensationcommitteeofanyothercompanythathasoneormoreexecutiveofficersservingasamemberofourBoardorCompensationCommittee.

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AUDITCOMMITTEEREPORT

TheAuditCommitteeofourBoardofDirectorsiscomprisedofthreenon-employeedirectors.TheBoardofDirectorshasdeterminedthatallofthemembersoftheAuditCommitteeareindependentwithinthemeaningofthelistingstandardsoftheNYSE,therulesoftheSECandtheCompany'sCorporateGovernanceGuidelinesandarefinanciallyliterateasdefinedbytheNYSEandareauditcommitteefinancialexpertsasdefinedbytheSEC.TheAuditCommitteeoperatesunderawrittencharteradoptedbytheBoardofDirectors.Consistentwiththischarter,theAuditCommitteeassiststheBoardofDirectorswithitsoversightresponsibilitiesastheyrelateto:

• theintegrityoftheCompany'sfinancialstatements;

• theeffectivenessoftheCompany'sinternalcontrolsoverfinancialreporting;

• theCompany'scompliancewithlegalandregulatoryrequirements;

• theimplementationandeffectivenessoftheCompany'sethicsandcomplianceprogram;

• theindependentauditor'squalificationsandindependence;and

• theperformanceoftheCompany'sindependentauditorandinternalauditors.

TheAuditCommitteealsohasresponsibilityforpreparingthisreport,whichmustbeincludedinourproxystatement,andappointingandretainingtheCompany'sindependentauditor.Inordertomeettheresponsibilitiesassignedtoitunderitscharter,theAuditCommitteeperformsanumberoftasks,includingthefollowing:

• Advancereviewofallauditandlegallypermittednon-auditservicestobeprovidedbyourindependentauditor.Thistaskincludessoleapprovalauthorityforthefeesandtermsoftheauditor'sengagement.

• ReviewoftheCompany'sauditedfinancialstatementsandquarterlyfinancialstatements.Inconnectionwiththistask,theAuditCommitteefocusesonseveralfactors,includingtheindependentauditor'sjudgmentofthequalityoftheCompany'saccountingprinciples,theresultsofmanagement'sandtheindependentauditor'sproceduresrelatedtopotentialfraud,andmajorissuesregardingjudgmentsmadeinconnectionwiththepreparationoffinancialstatements.

• Atleastanannualevaluationoftheindependentauditor.TheAuditCommitteeestablishedaprocessforevaluatingtheindependentauditorthatincludesobtaininganannualassessmentfromtheCompany'smanagement.Thatassessmentincludesseveralfactorsrelatedtotheindependentauditor,includingqualificationsandexpertise,pastperformanceandappropriatenessoffees.TheAuditCommitteealsoconsidersthecommunicationandinteractionswiththeindependentauditoroverthecourseoftheyearandtheresultsofPCAOBinspections,andconductsareviewoftheindependentauditor'sinternalqualitycontrolprocedures.

• Atleastanannualevaluationoftheindependentauditor'sindependence.

• QuarterlyreviewsoftheCompany'searningspressreleasesaswellasreviewsofguidanceprovidedtoinvestors.

• PeriodicreviewsoftheadequacyandeffectivenessoftheCompany'saccountingandinternalcontrolpoliciesandprocedures.

• PeriodicreviewsoftheCompany'sprogramforassessingandmanagingrisks,includingstepsmanagementhastakentomonitorandcontrolexposurestosuchrisks.

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ManagementisresponsiblefortheCompany'sinternalcontrolsandthefinancialreportingprocess.TheCompany'sindependentregisteredpublicaccountingfirm,Ernst&YoungLLP,isresponsibleforperforminganindependentauditoftheCompany'sconsolidatedfinancialstatementsinaccordancewiththestandardsofthePublicCompanyAccountingOversightBoard(UnitedStates),expressinganopinionastotheconformityofthefinancialstatementswithgenerallyacceptedaccountingprinciples,andexpressinganopinionontheCompany'sinternalcontroloverfinancialreporting.TheAuditCommittee'sresponsibilityistomonitorandoverseetheseprocesses.TheAuditCommitteehasdiscussedandreviewed,withbothmanagementandErnst&YoungLLP,management'sannualreportontheCompany'sinternalcontroloverfinancialreportingandErnst&YoungLLP'sattestation.

ManagementrepresentedtotheAuditCommitteethattheCompany'sconsolidatedfinancialstatementswerepreparedinaccordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica,andtheAuditCommitteehasreviewedanddiscussedwithmanagementandtheindependentregisteredpublicaccountingfirminseparatesessionstheCompany'sconsolidatedfinancialstatementsfortheyearsendedDecember31,2019,December31,2018andDecember31,2017.

TheAuditCommitteediscussedwithErnst&YoungLLPallmattersrequiredtobediscussedbyAuditingStandardNo.1301(CommunicationswithAuditCommittees).TheCompany'sindependentregisteredpublicaccountingfirmalsoprovidedtotheAuditCommitteethewrittendisclosuresandtheletterrequiredbyapplicablerequirementsofthePublicCompanyAccountingOversightBoardregardingtheindependentregisteredpublicaccountingfirm'scommunicationswiththeAuditCommitteeconcerningindependence,andtheAuditCommitteediscussedwiththeindependentregisteredpublicaccountingfirmtheaccountingfirm'sindependence.Inconsideringtheindependenceoftheindependentregisteredpublicaccountingfirm,theAuditCommitteetookintoconsiderationwhethertheprovisionofnon-auditservicesiscompatiblewithmaintainingtheindependenceoftheindependentregisteredpublicaccountingfirm.

TheCommitteealsoconsidersotherfactors,includingthepolicythatErnst&YoungLLPfollowswithrespecttorotationofitskeyauditpersonnel,sothatthereisanewpartner-in-chargeatleasteveryfiveyears.TheCommitteeisinvolvedintheselectionofthepartner-in-chargebythetimerotationisrequired.Ernst&YoungLLPdevelopsalistofpotentialcandidatesandidentifiesoneofthecandidatesasrecommendedbythefirm.TherecommendedcandidatemeetswithmembersofmanagementandtheCommittee.Attributesevaluatedincludeclientandfunctionalexperience,technicalcompetence,communicationskills,criticalbehaviors,familiaritywithauditcommitteeprocessesandindependentcommunicationsandstaturewithinErnst&YoungLLP.Iftherecommendedcandidateisselected,theprocessiscomplete.Iftherecommendedcandidateisnotselected,theprocesscontinueswithadditionalcandidatemeetingsuntilanacceptablecandidateisidentified.TheCommitteecompletedthisprocessin2016,with2017beingthefirstyearofthenewpartner-in-charge'stenure.

BasedupontheAuditCommittee'sreviewofthefinancialstatements,management'sreportoninternalcontrolsoverfinancialreporting,independentdiscussionswithmanagementandErnst&YoungLLP,andtheAuditCommittee'sreviewoftherepresentationofmanagementandthereportoftheindependentregisteredpublicaccountingfirmtotheAuditCommittee,theAuditCommitteerecommendedtotheBoardofDirectorsthateachof(1)theauditedconsolidatedfinancialstatementsfortheyearsendedDecember31,2019,December31,2018andDecember31,2017,and(2)management'sreportoninternalcontrolsoverfinancialreportingbeincludedintheCompany'sAnnualReportonForm10-KforthefiscalyearendedDecember31,2019filedwiththeSEC.

MembersoftheAuditCommittee

John A. Carrig, Chairman Karl F. Kurz Valerie M. Williams

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INDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM

DisclosureofFeesPaidtoIndependentRegisteredPublicAccountingFirm

ThefollowingtablepresentsfeesforprofessionalservicesrenderedbyErnst&YoungLLPfortheauditoffinancialstatementsandotherservicesin2017and2018.

In2019and2018,allofErnst&YoungLLP'sfeeswerepre-approvedbytheCompany'sAuditCommittee.

AuditCommittee'sConsiderationofIndependenceofIndependentRegisteredPublicAccountingFirm

TheAuditCommitteehasreviewedthenatureofnon-auditservicesprovidedbyErnst&YoungLLPandhasconcludedthattheseservicesarecompatiblewithmaintainingthefirm'sabilitytoserveasourindependentregisteredpublicaccountingfirm.

PolicyonAuditCommitteePre-ApprovalofAuditandNon-AuditServicesofIndependentAuditors

TheAuditCommitteehasestablishedapolicyregardingpre-approvalofallauditandnon-auditservicesprovidedbyErnst&YoungLLP.

Onanongoingbasis,ourmanagementpresentsspecificprojectsandcategoriesofservicetotheAuditCommitteetorequestadvanceapproval.TheAuditCommitteereviewsthoserequestsandadvisesmanagementiftheAuditCommitteeapprovestheengagementofErnst&YoungLLP.Onaperiodicbasis,ourmanagementreportstotheAuditCommitteeregardingtheactualspendingforsuchprojectsandservicescomparedtotheapprovedamounts.TheAuditCommitteemayalsodelegatetheauthoritytopre-approveauditandpermittednon-auditservices,excludingservicesrelatedtotheCompany'sinternalcontroloverfinancialreporting,toasubcommitteeofoneormorecommitteemembers,providedthatanysuchpre-approvalsarereportedatasubsequentAuditCommitteemeeting.

TheAuditCommittee'spre-approvalpolicywithrespecttoauditandnon-auditservicesisanattachmenttotheAuditCommitteeCharter,whichisavailableonourwebsiteatwww.wpxenergy.comunder"Investors"and"CorporateGovernance."

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(inmillions) 2019 2018 AuditFees(1) $ 2.3 $ 2.3TaxFees(2) $ 0.4 $ 0.2AllOtherFees $ — $ —Total $ 2.7 $ 2.5

(1) Theaggregateauditfeesin2019and2018billedbyErnst&YoungLLPwereforfeesassociatedwiththeauditoftheCompany'sconsolidatedfinancialstatements,theauditofitsinternalcontroloverfinancialreporting,thereviewofitsquarterlyfinancialstatements,andservicesthatarenormallyprovidedinconnectionwithstatutoryandregulatoryfilings,includingconsultingservicesandservicesinconnectionwiththeCompany'sfilingsundertheSecuritiesActof1933,asamended.

(2) TheaggregatefeesbilledbyErnst&YoungLLPfortaxserviceswererelatedprimarilytotaxplanning,taxadvice,andtaxcompliance.

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PROPOSAL3—RATIFICATIONOFINDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM

TheAuditCommitteehasappointedErnst&YoungLLPasourindependentregisteredpublicaccountingfirmfortheyearendingDecember31,2020.TheBoardhasproposedthatstockholdersratifythisappointmentattheAnnualMeeting.IfstockholdersdonotratifytheappointmentofErnst&YoungLLP,theAuditCommitteewillreconsidertheappointmentbutisnotobligatedtoappointanotherindependentregisteredpublicaccountingfirm.

InselectingErnst&YoungLLPasourindependentpublicaccountingfirmfor2020,theAuditCommitteeconsideredanumberoffactors,including:

• Ernst&YoungLLP'sinternalquality-controlprocedures,includingresultsofthemostrecentPublicCompanyAccountingOversightBoard(PCAOB)inspectionreportonErnst&YoungLLPandtheresultsofpeerreviewexaminations;

• ConsiderationofinvestigationsbygovernmentalorprofessionalauthoritiesandwhethertheymayimpairErnst&YoungLLP'sabilitytoperformourannualaudit;

• Ernst&YoungLLP'sindependenceprogramandanyrelationshipsbetweenErnst&YoungLLPandourcompanythatcouldhaveabearingonErnst&YoungLLP'sindependence;

• Ernst&YoungLLP'sindustryexperiencetoauditouroperations;

• Theprofessionalqualificationsoftheleadauditpartnerandotherkeyengagementpersonnel;

• Theperiodicrefreshmentofperspectiveandobjectivityprovidedbythemandatoryfive-yearrotationofthepartner-in-charge;

• Theengagementteam'scollectiveexpertiseandknowledgeofourbusiness,operationsandriskprofile;and

• TheresultsoftheevaluationofErnst&YoungLLP'sperformancedescribedintheAuditCommitteeReport.

RepresentativesofErnst&YoungLLPareexpectedtobepresentattheAnnualMeeting,willhaveanopportunitytomakeastatementiftheysodesireandwillbeavailabletorespondtoquestionsfromstockholders.

TheBoardrecommendsavoteFORratificationoftheselectionofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmfortheyearendingDecember31,2020.ProxieswillbevotedFORratifyingthisselectionunlessyouspecifyotherwise.

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SECURITYOWNERSHIPOFCERTAINBENEFICIALOWNERSANDMANAGEMENT

ThefollowingtablesetsforthcertaininformationasofMarch11,2020,withrespecttothenumberofsharesofcommonstockownedby(a)eachdirectorandnomineefordirectoroftheCompany,(b)eachnamedexecutiveofficeroftheCompany,(c)alldirectorsandexecutiveofficersandnomineesasagroupand(d)eachstockholderknownbytheCompanytoownbeneficiallymorethanfivepercentofaclassoftheoutstandingcommonstock.Unlessotherwisenoted,eachpersonandgroupidentifiedpossessessolevotingandinvestmentpowerwithrespecttothesharesshownoppositesuchperson'sorgroup'sname.

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NameofIndividualorGroup

SharesofCommonStockOwnedDirectly

orIndirectly(1)(2)

OptionsExercisable

Within60DaysofMarch11,

2020(3) Total(1)(2)(3) PercentofClass(4)

JohnA.Carrig 159,655 0 159,655(5) *RobertK.Herdman 109,655 0 109,655 *KeltKindick 144,979(6) 0 144,979(6) *KarlF.Kurz 95,376 0 95,376 *HenryE.Lentz 119,655 0 119,655 *KimberlyS.Lubel 119,605 0 119,605 *D.MartinPhillips 0 0 0(7) *DouglasE.Swanson,Jr. 0 0 0(7) *ValerieWilliams 27,068 0 27,068 *DavidF.Work 111,655 0 111,655 *DennisC.Cameron 532,516 35,251 567,767(8) *ClayM.Gaspar 1,519,609 0 1,519,609 *BryanK.Guderian 731,759 105,136 836,895 *RichardE.Muncrief 2,567,516 121,167 2,688,683 *J.KevinVann 994,210 47,495 1,041,705 *Alldirectorsnomineesandexecutiveofficersasagroup(15individuals) 7,233,258 309,049 7,542,307 1.33%BlackRock,Inc.(9) 37,388,228 0 37,388,228 9.00%TheVanguardGroup,Inc.(andrelatedparties)(10) 38,775,577 0 38,775,577 9.30%FelixInvestmentsHoldingsII,LLC(11) 151,529,637 0 151,529,637 26.775%

* Lessthan1%.

(1) IncludesrestrictedstockunitsoverwhichexecutiveofficershavenovotingorinvestmentpowerheldunderthetermsoftheWPXEnergy,Inc.2013IncentivePlanasfollows:Mr.Cameron,189,944;Mr.Gaspar,567,988;Mr.Guderian,256,839;Mr.Muncrief,1,290,081;Mr.Vann355,308;andallNEOswhoarecurrentlyexecutiveofficers,2,660,160.Restrictedstockunitsheldbythenamedexecutiveofficersonlyincludeperformance-basedawards.

(2) IncludesrestrictedstockunitsandsharesofdeferredcommonstockoverwhichindependentdirectorshavenovotingorinvestmentpowerheldunderthetermsoftheWPXEnergy,Inc.2013IncentivePlanasfollows:Mr.Carrig,91,848;Mr.Herdman,91,848;Mr.Kurz,31,009;Ms.Williams,26,368;Mr.Work73,703;andallindependentdirectorsasagroup,314,776.Thesedirectorshavetherighttoacquirethesharesunderlyingtheserestrictedstockunitsandsharesofdeferredcommonstockwithin60daysofMarch11,2020.Restrictedstockunitsincludetime-basedawards.IncludesrestrictedsharesofcommonstockheldunderthetermsoftheWPXEnergy,Inc.2013IncentivePlan,whichwillvestonMay16,2020,asfollows:Mr.Kindick,15,000;Mr.Lentz,15,000;andMs.Lubel,15,000.

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69

(3) ThesharesindicatedrepresentstockoptionsgrantedundertheWPXEnergy,Inc.2013IncentivePlanthatarecurrentlyexercisableorwillbecomeexercisablewithin60daysofMarch11,2020.Sharessubjecttooptionscannotbevoted.

(4) Ownershippercentageisreportedbasedon565,937,533sharesofcommonstockoutstandingonMarch11,2020,plus,astotheholderthereofandnootherperson,thenumberofshares(ifany)thatthepersonhastherighttoacquireasofMarch11,2020,orwithin60daysofthatdate.Restrictedstockunitsthatdonotvestwithin60daysofMarch11,2020arenotincludedinownershippercentage.

(5) Includes10,000sharesownedbyMr.Carrig'sspouse,overwhichshepossessessolevotingandinvestmentpower.

(6) Includes129,979sharesownedbyanirrevocabletrustofwhichMr.Kindick'sspouseistheboththesoletrusteeandthesolebeneficiary.

(7) Messrs.PhillipsandSwansonwereappointedtoourBoardofDirectorseffectiveMarch6,2020.

(8) Includes1,800sharesownedbyMr.Cameron'sspouse,overwhichshepossessessolevotingandinvestmentpower.

(9) Theaddressofthisentityis55East52ndStreet,NewYork,NY10055.TheinformationprovidedisbasedonaSchedule13G/AfiledbyBlackRock,Inc.onoraboutFebruary6,2020.ThatfilingindicatesthatBlackRock,Inc.hassolevotingpowerasto35,741,427ofthesharesshown,soledispositivepowerastoall37,388,228sharesshownandshareddispositivepowerasto0ofthesharesshown.

(10) Theaddressofthisentityis100VanguardBoulevard,Malvern,Pennsylvania19355.TheinformationprovidedisbasedonaSchedule13G/AfiledbyTheVanguardGroup,Inc.onoraboutFebruary12,2020.ThatfilingindicatesthatTheVanguardGrouphassolevotingpowerasto213,668ofthesharesshown,soledispositivepowerasto38,538,600ofthesharesshownandshareddispositivepowerasto236,977ofthesharesshown.ThatfilingalsoindicatesthatVanguardFiduciaryTrustCompany,awholly-ownedsubsidiaryofTheVanguardGroup,Inc.,isthebeneficialownerof158,310ofthesharesshownasaresultofitsservingasinvestmentmanagerofcollectivetrustaccounts.ThatfilingfurtherindicatesthatVanguardInvestmentsAustralia,Ltd.,awholly-ownedsubsidiaryofTheVanguardGroup,Inc.,isthebeneficialownerof134,025ofthesharesshownasaresultofitsservingasinvestmentmanagerofAustralianinvestmentofferings.

(11) Theaddressofthisentityis153016thStreet,Suite500,Denver,Colorado8020.TheinformationprovidedisbasedonaForm3filedbyFelixInvestmentsHoldingsII,LLConoraboutMarch9,2020.ThatfilingindicatesthatFelixInvestmentsHoldingsII,LLCistherecordholderofthesharesreportedherein.FelixEnergyInvestmentsII,LLC("FelixEnergy")isthedirectandindirectsoleownerofFelixInvestments.EnCapEnergyCapitalFundX,L.P.("EnCapFundX")isamemberofFelixEnergythatholdstherighttoappointtwoofthethreerepresentativestotheboardofmanagersofFelixEnergy,andpursuanttothelimitedliabilitycompanyagreementofFelixInvestments,themembersoftheFelixInvestmentsboardofmanagersarerequiredtobecomprisedofthesameindividualsastheFelixEnergyboardofmanagers.EnCapFundXiscontrolledindirectlybyEnCapPartnersGP,LLC("EnCapPartnersGP").EnCapPartnersGPisthesolegeneralpartnerofEnCapPartners,LP("EnCapPartners"),whichisthemanagingmemberofEnCapInvestmentsHoldings,LLC("EnCapHoldings"),whichisthesolememberofEnCapInvestmentsGP,L.L.C.("EnCapInvestmentsGP"),whichisthesolegeneralpartnerofEnCapInvestmentsL.P.("EnCapInvestmentsLP").EnCapInvestmentsLPisthesolegeneralpartnerofEnCapEquityFundXGP,L.P.("EnCapFundXGP"),whichisthesolegeneralpartnerofEnCapFundX.EachofFelixEnergy,EnCapFundX,EnCapFundXGP,EnCapInvestmentsLP,EnCapInvestmentsGP,EnCapHoldings,EnCapPartnersandEnCapPartnersGPmaybedeemedtosharevotingordispositivepoweroverthereportedsecurities.

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SECTION16(a)BENEFICIALOWNERSHIPREPORTINGCOMPLIANCE

Section16(a)oftheExchangeActrequiresourdirectorsandexecutiveofficers,andcertainpersonswhoownmorethantenpercentofourcommonstock,tofilewiththeSECinitialreportsofownershipandreportsofchangesinownershipofourcommonstockandotherequitysecurities.Directors,executiveofficersandthesegreater-than—ten-percentstockholdersarerequiredbySECregulationstofurnishuswithcopiesofallSection16(a)formstheyfile.

Toourknowledge,basedsolelyonareviewofthecopiesofthesereportsandotherinformationfurnishedtous,allSection16(a)filingrequirementsapplicabletoourdirectors,executiveofficersandgreater-than-ten-percentbeneficialownersduringandforthefiscalyearendedDecember31,2019,werecompliedwithonatimelybasis,exceptthatMr.Gaspardidnottimelyfileonereportwithrespecttoonetransaction.

OTHERMATTERSATMEETING

InaccordancewiththerequirementsofadvancenoticedescribedinourBylaws,nostockholdernominationsorstockholderproposalswillbepresentedattheAnnualMeeting.WeknowofnoothermattersthatmaycomebeforetheAnnualMeeting.However,ifanymatterscallingforavoteofthestockholders,otherthanthosereferredtointhisproxystatement,shouldproperlycomebeforethemeeting,thepersonsnamedintheenclosedproxywillvotesuchproxyaccordingtotheirindividualjudgment.

Tulsa,OklahomaApril7,2020

70

ByOrderoftheBoardofDirectors,

StephenE.BrilzVice President and Corporate Secretary

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 MMMMMMMMMMMM C123456789 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000004 ENDORSEMENT_LINE______________ SACKPACK_____________ Your vote matters – here’s how to vote! You may vote online or by phone instead of mailing this card. Votes submitted electronically must be MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 ADD 5 ADD 6 received by 11:59 p.m, Eastern Time, on May 20, 2020. Online GIof ntoo welwewct.reonnviicsivoontrienpgo, rts.com/WPX delete QR code and control # or scan the QR code — login details are located in the shaded bar below. Phone Call toll free 1-800-652-VOTE (8683) within the USA, US territories and Canada Save paper, time and money! Sign up for electronic delivery at www.envisionreports.com/WPX Using a black ink pen, mark your votes with an X as shown in this example. Please do not write outside the designated areas. q IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. q + 1. Election of Directors: For Against Abstain For Against Abstain For Against Abstain 01 - John A Carrig 02 - Clay M. Gaspar 03 - Robert K. Herdman 04 - Kelt Kindick 05 - Karl F. Kurz 06 - Kimberly S. Lubel 07 - Richard E. Muncrief 08 - D. Martin Phillips 09 - Douglas E. Swanson, Jr. 10 - Valerie M. Williams For Against Abstain For Against Abstain 2. Say on Pay – An advisory vote on the approval of executive compensation. 3. Proposal to ratify the appointment of Ernst & Young LLP as the independent public accounting firm for the Company for the year ending December 31, 2020. Please sign exactly as name(s) appears hereon. Joint owners should each sign. When signing as attorney, executor, administrator, corporate officer, trustee, guardian, or custodian, please give full title. Date (mm/dd/yyyy) — Please print date below. Signature 1 — Please keep signature within the box. Signature 2 — Please keep signature within the box. C 1234567890 J N T MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE 140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND + 1 U P X 4 5 6 0 4 9 0380MB MMMMMMMMM B Authorized Signatures — This section must be completed for your vote to count.

Please date and sign below. A Proposals — The Board recommend a vote FOR all nominees and FOR Proposals 2 and 3. Annual Meeting Proxy Card1234 5678 9012 345

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The 2020 Annual Meeting of WPX Energy, Inc. Stockholders Thursday, May 21, 2020 9:30 a.m. (Central Time) Robert J. LaFortune Studio Tulsa Performing Arts Center 110 East Second Street Tulsa, Oklahoma, 74103 Directions to the Tulsa Performing Arts Center • lnterstate-44 going east: Take exit North Hwy. 75 to Tulsa, continue across bridge, and then take the Seventh Street exit to Boulder. Turn right onto Third Street. Continue to Cincinnati. • lnterstate-44 going west: Take 1-44 to 1-244. Exit downtown at First Street. Turn left onto Cincinnati. • Interstate 244 going west: Take the First Street exit; stay on First. Turn left onto Cincinnati. • Hwy. 51/64 going east: Take 1-244 east to Cincinnati exit. Turn right on Cincinnati to Third Street. • Hwy. 75 going south: Take the First Street exit to Cincinnati. Turn left on Cincinnati. • Hwy. 75 going north: Take the Seventh street exit to Boulder. Turn right onto Third Street. Continue to Cincinnati where there is parking. Important notice regarding the Internet availability of proxy materials for the Annual Meeting of Stockholders. The material is available at: www.envisionreports.com/WPX q IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. q + Notice of 2020 Annual Meeting of Stockholders Proxy Solicited by Board of Directors for Annual Meeting Dennis C. Cameron and Stephen E. Brilz, or either of them, each with the power of substitution, are hereby authorized to represent and vote the shares of the undersigned, with all the powers which the undersigned would possess if personally present, at the Annual Meeting of Stockholders of WPX Energy, Inc. to be held on May 21, 2020 or at any postponement or adjournment thereof. Shares represented by this proxy will be voted by the stockholder. If no such directions are indicated, the Proxies will have authority to vote FOR all nominees, and FOR Proposals 2 and 3. In their discretion, the Proxies are authorized to vote upon such other business as may properly come before the meeting. (Items to be voted appear on reverse side) Change of Address — Please print new address below. Comments — Please print your comments below. + C Non-Voting Items WPX Energy, Inc. Small steps make an impact. Help the environment by consenting to receive electronic delivery, sign up at www.envisionreports.com/WPX

 


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