Exhibit 10.1

EXECUTION VERSION

COMMITMENT INCREASE AGREEMENT

FOR AMENDED AND RESTATED CREDIT AGREEMENT

THIS COMMITMENT INCREASE AGREEMENT FOR AMENDED AND RESTATED CREDIT AGREEMENT
(this “Commitment Increase Agreement”) dated as of July 31, 2015 is among WPX
ENERGY, INC., a Delaware corporation (the “Borrower”), the Lenders party hereto
(the “Existing Incremental Lenders”) and the New Lenders (used herein as defined
in the Credit Agreement) (together with the Existing Incremental Lenders, each
an “Incremental Lender”), WELLS FARGO BANK, NATIONAL ASSOCIATION, as
Administrative Agent, and the Issuing Banks (as defined in the Credit Agreement)
party hereto.

RECITALS

A. Reference is made to that certain Amended and Restated Credit Agreement dated
as of October 28, 2014 (as amended July 16, 2015 and as further amended, amended
and restated, restated, modified or otherwise supplemented prior to the date
hereof, the “Credit Agreement”) among the Borrower, each of the Lenders party
thereto and the Administrative Agent, pursuant to which the Lenders have made
certain credit and other financial accommodations available to and on behalf of
the Borrower and its Subsidiaries.

B. The Borrower has requested that each Existing Incremental Lender agree to
increase its Commitments pursuant to Section 2.01(c) of the Credit Agreement.

C. The Borrower has requested that each New Lender provide new Commitments
pursuant to Section 2.01(c) of the Credit Agreement.

D. NOW, THEREFORE, to induce the Incremental Lenders to enter into this
Commitment Increase Agreement and in consideration of the premises and the
mutual covenants herein contained, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

Section 1. Defined Terms. Each capitalized term used herein but not otherwise
defined herein has the meaning given to such term in the Credit Agreement.

Section 2. Memorialization of Increase.

2.1 Upon the occurrence of the Increase Effective Date, (a) each New Lender
agrees to provide new Commitments as specified opposite its name on Annex A
hereto and to make Revolving Loans on the terms and conditions set forth in the
Credit Agreement, (b) each Existing Incremental Lender agrees to increase its
Commitment as specified opposite its name on Annex A hereto (collectively and
together with the new commitments described in clause (a), the “Increase”),
(c) the Aggregate Commitments under the Credit Agreement shall increase by the
aggregate principal amount of the Increase of the Incremental Lenders effected
hereby and (d) the Administrative Agent and each of the Issuing Banks hereby
consents to each Incremental Lender providing its Increase.

2.2 (a)(i) The Increase effected hereby shall become a part of the Aggregate
Commitments, (ii) the increase by each Existing Incremental Lender in its
Commitment as specified opposite its name on Annex A hereto effected hereby
shall become a part of the Commitment of such Existing Incremental Lender, in
each case, for all purposes of the Credit Agreement and the other Loan Documents
and (iii) the new Commitments of each New Lender as specified opposite its name
on Annex A hereto effected hereby

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shall be Commitments of such New Lender, in each case, for all purposes of the
Credit Agreement and the other Loan Documents and (b) the Increase effected
hereby shall, together with all Loans and LC Exposure in respect of the
Increase, be subject to the same Applicable Percentage, prepayment provisions,
Maturity Date and other terms and conditions applicable to the Aggregate
Commitments, Loans and LC Exposure under the Credit Agreement and the other Loan
Documents.

2.3 The Borrower (a) acknowledges its obligations under the last sentence of
Section 2.01(c)(i) of the Credit Agreement (including with respect to breakage
fees) and (b) hereby instructs the Administrative Agent to rebalance the
Revolving Loans of each Lender so that the outstanding amount of Revolving Loans
of each Lender corresponds to each such Lender’s Applicable Percentage after
giving effect to the Increase.

2.4 Each New Lender (a) confirms that it has received a copy of the Credit
Agreement and the other Loan Documents, together with such other documents and
information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Commitment Increase Agreement; (b) agrees that it
will, independently and without reliance upon the Administrative Agent or any
Lender and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking
action under the Credit Agreement; (c) as of the Increase Effective Date,
appoints and authorizes the Administrative Agent to take such action as agent on
its behalf and to exercise such powers under the Credit Agreement and the other
Loan Documents as are delegated to the Administrative Agent by the terms
thereof, together with such powers as are reasonably incidental thereto; and
(d) as of the Increase Effective Date, agrees that it will perform in accordance
with their terms all of the obligations which by the terms of the Credit
Agreement, are required to be performed by it as a Lender. Upon the Increase
Effective Date, each New Lender shall become a Lender under the Credit
Agreement.

Section 3. Conditions Precedent.

This Commitment Increase Agreement shall become effective on the date when each
of the following conditions is satisfied (such date, the “Increase Effective
Date”):

3.1 The Administrative Agent shall have received from the Borrower, the
Administrative Agent, each Incremental Lender and each Issuing Bank (a) a
counterpart of this Commitment Increase Agreement signed on behalf of such party
or (b) written evidence satisfactory to the Administrative Agent (which may
include fax or email pdf transmission of a signed signature page of this
Commitment Increase Agreement) that such party has signed a counterpart of this
Commitment Increase Agreement.

3.2 The Administrative Agent and each Incremental Lender shall have received all
fees and other amounts due and payable on or prior to the Increase Effective
Date, including, to the extent invoiced at least two Business Days prior to the
Increase Effective Date (or such later date as the Borrower may reasonably
agree), reimbursement or payment in full of all reasonable out-of-pocket
expenses required to be reimbursed or paid by the Borrower under the Credit
Agreement.

3.3 The Administrative Agent shall have received a certificate dated as of the
Increase Effective Date, signed by a Responsible Officer of the Borrower
certifying that each of the conditions set forth in this Section 3 have been
satisfied and that, before and after giving effect to such Increase, (a) the
representations and warranties (other than Added L/C Representations) contained
in the Credit Agreement and the other Loan Documents are true and correct in all
material respects on and as of the Increase Effective Date after giving effect
to such Increase, except to the extent that such representations and warranties
specifically refer to an earlier date, in which case they were true and correct
in all material respects as of such earlier date, and (b) before and after
giving effect to the Increase, no Default or Event of Default exists and is
continuing as of the Increase Effective Date.

 

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3.4 The Administrative Agent shall have received certified resolutions or an
equivalent, incumbency certificates and/or any other certificates of a
Responsible Officer of the Borrower as the Administrative Agent may reasonably
require evidencing the authority of the Borrower to enter into the Commitment
Increase Agreement and the identity, authority and capacity of such Responsible
Officer thereof authorized to act as a Responsible Officer in connection with
the Increase and this Commitment Increase Agreement, and such documents and
certifications as the Administrative Agent may reasonably require to evidence
that the Borrower is validly existing and in good standing in its jurisdiction
of organization.

3.5 The Administrative Agent shall have received a written opinion of Weil,
Gotshal & Manges LLP dated as of the Increase Effective Date covering such
matters relating to the Borrower and this Commitment Increase Agreement as are
customary; the Borrower hereby request such counsel to deliver such opinion.

The Administrative Agent is hereby authorized and directed to notify the
Borrower, the Lenders and the Issuing Banks of the Increase Effective Date and
such notice shall be conclusive and binding upon all parties to the Credit
Agreement.

Section 4. Miscellaneous.

4.1 Confirmation. The provisions of the Credit Agreement shall remain in full
force and effect following the effectiveness of this Commitment Increase
Agreement.

4.2 Ratification and Affirmation. The Borrower hereby (a) acknowledges the terms
of this Commitment Increase Agreement and (b) ratifies and affirms its
obligations under, and acknowledges, renews and extends its continued liability
under, each Loan Document to which it is a party and agrees that each Loan
Document to which it is a party remains in full force and effect.

4.3 Loan Document. This Commitment Increase Agreement is a Loan Document.

4.4 Counterparts. This Commitment Increase Agreement may be executed by one or
more of the parties hereto in any number of separate counterparts, and all of
such counterparts taken together shall be deemed to constitute one and the same
instrument. Delivery of this Commitment Increase Agreement by facsimile or
electronic transmission shall be effective as delivery of a manually executed
counterpart hereof.

4.5 NO ORAL AGREEMENT. THIS COMMITMENT INCREASE AGREEMENT, THE CREDIT AGREEMENT
AND THE OTHER LOAN DOCUMENTS AND ANY SEPARATE LETTER AGREEMENT MEMORIALIZING
RELATED FEES EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL
AGREEMENT BETWEEN THE PARTIES RELATING TO THE SUBJECT MATTER HEREOF AND THEREOF
AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO ORAL AGREEMENTS BETWEEN THE
PARTIES.

4.6 GOVERNING LAW. THIS COMMITMENT INCREASE AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

4.7 Severability. Any provision of this Commitment Increase Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

 

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4.8 Successors and Assigns. This Commitment Increase Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

[This page intentionally left blank. Signature pages follow.]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Commitment Increase
Agreement to be duly executed as of the date first written above.

 

BORROWER:     WPX ENERGY, INC.     By:  

/s/ Todd Scruggs

      Name:   Todd Scruggs       Title:   Treasurer

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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ADMINISTRATIVE AGENT AND INCREMENTAL LENDER:    

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent and Incremental Lender

    By:  

/s/ Nathan Starr

      Name:   Nathan Starr       Title:   Portfolio Manager

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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ISSUING BANK:    

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as an Issuing Bank

    By:  

/s/ Jeffrey Cobb

      Name:   Jeffrey Cobb       Title:   Vice President

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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ISSUING BANK:     BANK OF AMERICA, N.A.,     as an Issuing Bank     By:  

/s/ Bryan Heller

      Name:   Bryan Heller       Title:   Director

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:     BANK OF AMERICA, N.A.,     as an Incremental Lender    
By:  

/s/ Ronald E. McKaig

      Name:   Ronald E. McKaig       Title:   Managing Director

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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ISSUING BANK:     BARCLAYS BANK PLC,     as an Issuing Bank     By:  

/s/ Christopher Lee

      Name:   Christopher Lee       Title:   Vice President

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:     BARCLAYS BANK PLC,     as an Incremental Lender     By:
 

/s/ Christopher Lee

      Name:   Christopher Lee       Title:   Vice President

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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ISSUING BANK:     Citibank, N.A.,     as an Issuing Bank     By:  

/s/ Todd Mogil

      Name:   Todd Mogil       Title:   Vice President

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:     Citibank, N.A.,     as an Incremental Lender     By:  

/s/ Todd Mogil

      Name:   Todd Mogil       Title:   Vice President

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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ISSUING BANK:     JPMORGAN CHASE BANK, N.A.,     as an Issuing Bank     By:  

/s/ Darren Vanek

      Name:   Darren Vanek       Title:   Executive Director

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:

    JPMORGAN CHASE BANK, N.A.,     as an Incremental Lender     By:  

/s/ Darren Vanek

      Name:   Darren Vanek       Title:   Executive Director

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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ISSUING BANK:     TORONTO DOMINION (TEXAS) LLC,    

as an Issuing Bank

    By:  

/s/ Savo Bozic

      Name:   Savo Bozic       Title:   Authorized Signatory

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:     TORONTO DOMINION (TEXAS) LLC,    

as an Incremental Lender

    By:  

/s/ Savo Bozic

      Name:   Savo Bozic       Title:   Authorized Signatory

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:     COMPASS BANK,    

as an Incremental Lender

    By:  

/s/ Umar Hassan

      Name:   Umar Hassan       Title:   Senior Vice President

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:    

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,

as an Incremental Lender

    By:  

/s/ Darrell Stanley

      Name:   Darrell Stanley       Title:   Managing Director     By:  

/s/ Michael Willis

      Name:   Michael Willis       Title:   Managing Director

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:    

ROYAL BANK OF CANADA,

as an Incremental Lender

    By:  

/s/ Evans Swann, Jr.

      Name:   Evans Swann, Jr.       Title:   Authorized Signatory

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:     Bank of Nova Scotia,     as an Incremental Lender    
By:  

/s/ Mark Sparrow

      Name:   Mark Sparrow       Title:   Director

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:     The Bank of Tokyo-Mitsubishi UFJ, LTD.,     as an
Incremental Lender     By:  

/s/ Mark Oberreuter

      Name:   Mark Oberreuter       Title:   Vice President

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:     BNP PARIBAS,    

as an Incremental Lender

    By:  

/s/ Ann Rhoads

      Name:   Ann Rhoads       Title:   Managing Director INCREMENTAL LENDER:  
  BNP PARIBAS,     as an Incremental Lender     By:  

/s/ John R. Corley

      Name:   John R. Corley       Title:   Director

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:     BRANCH BANKING AND TRUST COMPANY,     as an Incremental
Lender     By:  

/s/ Janet L. Wheeler

      Name:   Janet L. Wheeler       Title:   Vice President

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:

    Credit Suisse AG, Cayman Islands Branch,    

as an Incremental Lender

    By:  

/s/ Nupur Kumar

      Name:   Nupur Kumar       Title:   Authorized Signatory     By:  

/s/ Lingzi Huang

      Name:   Lingzi Huang       Title:   Authorized Signatory

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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INCREMENTAL LENDER:     BOKF, NA dba Bank of Oklahoma,     as an Incremental
Lender     By:  

/s/ J. Nick Cooper

      Name:   J. Nick Cooper       Title:   Vice President

SIGNATURE PAGE – COMMITMENT INCREASE AGREEMENT

WPX ENERGY, INC.

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Annex A

Commitments

 

Lender

   Amount of Existing Commitment      Amount of Commitment Increase
or, in the case of New Lenders, New
Commitments  

Wells Fargo Bank, National Association

   $ 113,000,000       $ 22,000,000   

Bank of America, N.A.

     113,000,000         22,000,000   

Barclays Bank PLC

     113,000,000         22,000,000   

Citibank, N.A.

     113,000,000         22,000,000   

JPMorgan Chase Bank, N.A.

     113,000,000         22,000,000   

Toronto-Dominion (Texas) LLC

     113,000,000         22,000,000   

Compass Bank

     92,000,000         13,000,000   

Credit Agricole Corporate and Investment Bank

     92,000,000         13,000,000   

Royal Bank of Canada

     92,000,000         13,000,000   

Bank of Nova Scotia

     92,000,000         13,000,000   

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

     92,000,000         13,000,000   

BNP Paribas

     75,000,000         30,000,000   

U.S. Bank, N.A.

     92,000,000         0   

Branch Banking and Trust Company

     75,000,000         9,000,000   

Credit Suisse AG, Cayman Islands Branch

     75,000,000         9,000,000   

BOKF, N.A. dba Bank of Oklahoma

     45,000,000         5,000,000      

 

 

    

 

 

 

Total

   $ 1,500,000,000       $ 250,000,000      

 

 

    

 

 

 

 

ANNEX A