Newfield Exploration proved reserves at year end 2012 566M BOE, down 13% YoY Proved reserves at year-end 2012 were 566M BOE, down 13% from 652M BOE at year-end 2011. The decrease relates primarily to low natural gas prices, the sale of non-strategic assets in 2012 and produced volumes. This decrease was partially offset by the addition of 86M BOE of reserves through the company's active drilling programs. Reserves were determined using SEC pricing of $2.76 per MMBtu of natural gas and $94.84 per Bbl of oil.
Newfield Exploration upgraded on Anadarko Basin potential at Stifel As noted earlier, Stifel upgraded Newfield to Buy from Hold. As reasons for the upgrade, the firm cited the company's success in the Anadarko Basin and its belief that the STACK and SCOOP portions of the region could unlock significant value for the company.Target $48.