New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 13, 2013
18:39 EDTNFXNewfield Exploration provides production guidance, CapEx for 2013-2015
Newfield Exploration announced that its Board of Directors has approved a three-year plan and outlined the company's production growth outlook and planned capital investment ranges for 2013-15. "We are excited about our significant domestic production growth forecast," said Lee K. Boothby, Newfield Chairman, President and CEO. "Since 2009, we have transformed our asset base toward liquids, improved our organizational focus and aligned our people around value creation in our domestic resource plays. We are now realizing the tangible benefits of these efforts, as we transition to development drilling in our key onshore plays. Today's outlook spotlights the strength of our portfolio and, given the greater certainty in outcomes from our drilling programs, confidence in our ability to execute in 2013 and beyond to deliver these results for the benefit of our stockholders."For 2013, the company plans to invest $1.7B-$1.9B (excludes capitalized interest and overhead), with the entire budget substantially allocated to liquids plays. Total company production is expected to range from 44 - 47M BOE. This compares to 2012 production, adjusted for asset sales, of approximately 47M BOE. Adjusted for asset sales in 2012, Newfield expects that its 2013 domestic liquids production will increase more than 35%. Natural gas volumes are expected to decline about 14% from 2012 levels due to a continued lack of investment and natural field declines. The company's four domestic oil resource plays will receive a capital allocation of $1.4B-$1.5B. These areas include the Cana Woodford, Uinta basin, Williston basin and the Eagle Ford. In its international operations, the company plans to invest $300M-$400M. A significant component of this investment includes the ongoing development of the Pearl oil field, offshore China. First oil sales from the Pearl development are expected in early 2014. Boothby continued, "We believe that our 2013 investments will result in substantial gains in Newfield's liquids production growth and significant increases in our cash flow into 2014-15. Over the last several years, we have been disciplined in our levels of capital investment by funding our liquids growth plan with existing cash flows and the sale of non-strategic assets, and we will continue to do so going forward."
News For NFX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 19, 2015
07:31 EDTNFXUBS to hold a conference
Subscribe for More Information
May 18, 2015
10:01 EDTNFXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: A10 Networks (ATEN) upgraded to Overweight from Sector Weight at Pacific Crest... Cal-Maine Foods (CALM) upgraded to Overweight from Equal Weight at Stephens... ChemoCentryx (CCXI) upgraded to Overweight from Neutral at JPMorgan... Cheniere Energy Partners LP (CQP) upgraded to Buy from Neutral at Goldman... Chicago Bridge & Iron (CBI) upgraded to Neutral from Sell at Goldman... Continental Resources (CLR) upgraded to Buy from Neutral at Goldman... Ctrip.com (CTRP) upgraded to Overweight from Neutral at JPMorgan... Emerge Energy (EMES) upgraded to Buy from Neutral at Goldman... FEMSA (FMX) upgraded to Overweight from Equal Weight at Morgan Stanley... GoPro (GPRO) upgraded to Perform from Underperform at Oppenheimer... Holly Energy (HEP) upgraded to Buy from Neutral at Goldman... JP Energy (JPEP) upgraded on better visibility on volumes at RBC Capital... Laredo Petroleum (LPI) upgraded to Neutral from Sell at Goldman... Malvern Bancorp (MLVF) upgraded to Outperform from Market Perform at Keefe Bruyette... Newfield Exploration (NFX) upgraded to Buy from Neutral at Goldman... Norsk Hydro (NHYDY) upgraded to Overweight from Neutral at JPMorgan... Owens-Illinois (OI) upgraded to Neutral from Underperform at BofA/Merrill... Penn National (PENN) upgraded to Buy from Neutral at Goldman... Roche (RHHBY) upgraded to Buy from Neutral at UBS... Schnitzer Steel (SCHN) upgraded on stabilizing headwinds at KeyBanc... Seventy Seven Energy (SSE) upgraded to Buy from Hold at Jefferies... Toll Brothers (TOL) upgraded to Neutral from Underperform at Sterne Agee CRT... United Therapeutics (UTHR) upgraded to Buy from Neutral at BTIG... Volvo (VOLVY) upgraded to Neutral from Underweight at JPMorgan... Zayo Group (ZAYO) upgraded to Buy from Neutral at Goldman.
06:27 EDTNFXNewfield Exploration upgraded to Buy from Neutral at Goldman
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use