EFTA01357847

Deutsche Bank Secunties Inc. o tn Figure 135: Corry-no .:11y Price Scenario Analysis:WPX Energy Sensitivity Beried on Bloomberq Consensus, o FY 15E EB1TDA (5 51dhon) to 51r* 5275 1225 $275 1225 2175 14.25 14.75 11301) $505 ION 3404 $713 1703 $117 014 090 1029 1075 1778 5777 1827 MI $928 $500 1003 1743 1791 5842 MA 5945 $902 100 $157 $807 $1168 1003 $956 $1.00) 51.00 1700 $022 $811 5020 $970 11.019 11.073 11.121 »PO $880 00 505 0 04 11.04 11.121 $1.116 $900 1930 5991 1100 11090 11.148 11.202 0249 FY 16E EBI1DA (5 151.11ron) NYMEX Gas ($/mele ) S11> 57 75 5275 53.25 52 R.25 14.75 $180 1157 555 541 5140 5240 133) $433 1400 SI *CO 099 090 1108 5497 $593 $910 9159 120 $03 5457 $538 $655 1755 $600 1317 $417 5510 5415 571a 1814 $913 1700 1476 1375 479 5773 5673 1072 SI 071 50(10 104 5733 $02 $602 11031 $1.130 41 729 $900 9, 02 9991 1997 51090 51.180 11.2173 41 38 FY 15E Net Leve:Joe 51.75 5225 $2.75 53.25 5175 14.25 14.75 $180 32* 20 24 24x 214 1.R 1.84 5400 284 254 24 214 IR 1h $540 244 72« 204 14 I h IA 1.4 000 224 20 14 lik 15x 1.44 1.34 1700 IA 184 14 15x 14 121 1.14 $500 774 104 144 1]v 1h 14 182 AKO I A 1•. • 1, / > 1-1x 10 0.179 NYMEX Ga (time(*) FY 16E 14.0 Leyerage 5270 5825 9.00 7924 21 34 $40.0 04 1474 934 $00 1084 111* 7* 5h me alk St 49« 31174 1700 144 la 344 20c VMO 3k 16 254 2h 5900 274 IS 182 IA 1182 674 444 31x 238 I 144 14.75 80 5.94 507 40 3S 291 20 224 213 IS 134 IA 14 FY 15E FCF (5 111ilhon1 51.75 5225 12.75 5125 1175 1425 1475 530.0 4921 4801 470 .1731 407 047 580.0 4887 -5819 4772 4724 40773 4379 WAO 4195 .$756 .5740 4602 -17515 -1933 4518 100 4743 440 -1101 .1563 4503 4450 1700 402 4654 4557 4492 4410 500.0 -5573 4477 4430 4379 -313 MOS 4524 -5511 4410 4105 4317 -5271 FY 15E ;CE (5 1.1i1For 51.75 1225 12.15 13.25 53.715 1425 5300 -51.553 41.404 -SI 374 .51.205 .11.195 41.105 41015 *OB 41.411 -$I2s2 -$1.142 4903 -1674 00.0 41.201 .51.179 4100 41.00 4971 4820 -1731 1400 -51.125 -51,037 4917 4705 .11713 1170.0 -$951 4715 4524 4447 430 41141 4752 4573 -5484 400 -304 $900 400 -5520 -1411 4341 4251 -110 FY 15E DebtProved Reserves lark re I 11.75 52.25 52.75 53.25 1175 1425 14.75 1300 10.4 504 $04 504 103 103 $03 1.40.0 104 $04 $04 103 $03 $03 103 550.0 50.4 504 503 503 503 103 501 5030 M3 503 503 10.3 303 303 303 $700 10Z 503 503 50.3 103 103 503 $100 *33 $03 $03 503 $03 103 503 $.».0 33 103 503 103 503 33 503 FY 16E DebtRrosed Reservo: I$VMet,. V rmeM Gas 4.-viri 51.75 12.25 12.75 13.23 SIJS NIS 54.75 530.0 $0 7 $07 107 $06 $0 6 soe $06 $aae 37 $08 100 108 $06 105 $05 1400 10 e 50a $09 $05 505 506 505 1400 500 $06 $0 5 $05 505 104 504 1700 105 503 105 103 504 104 104 1000 05 $05 $04 $04 104 $04 103 250.0 105 10 4 $04 10• $0 3 503 505 Sccre• 088001$0 Sent dr.yrdpp/+w[4lG Anne erweans eeer~45 ree ~ne 00~ 11e7:1 rbe tornenrs BAreteee.tv ~moe* efle•HuS ~IS CO* AMEP£18488CE8CX0, PANG, (Pet TSCAl 80 888880.088 ot 8V88058$N.SE8GE8t308$8008.11W~t tin CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0044698 SDNY_GM_00190882 EFTA01357847