WPX CEO Muncrief adds chairman of the board to leadership roles

By Luke Geiver | December 20, 2016

Rick Muncrief’s leadership role at independent exploration and production firm WPX Energy increased this month after he was named board chairman. In May 2014, Muncrief left Continental Resources to become President and CEO of WPX.

Muncrief has led the company into the Permian Basin and overseen roughly $5 billion of acquisition and divestiture activity since May 2014. Of the eleven WPX board members, only Muncrief will be from within the company. William Lowrie, the previous chairman that helped led WPX for roughly five years, will become an independent director for the board.

“Already, Rick has navigated WPX through one of the biggest price pullbacks in industry history, personally invested heavily in the future of the company, established accountability up and down the organization and emphasized technology and technical excellence in our operations,” Lowrie said, adding that since Muncrief took over, WPX has been on a compelling course.

In the Bakken, WPX has roughly 85,000 net acres leased all within the Fort Berthold Indian Reservation. The company currently has two drilling rigs operating, both in Dunn County, North Dakota.

For more on WPX’s company transformation, click here.