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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."
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July 30, 2014
11:14 EDTNFXHigh option volume stocks
High option volume stocks: EXAM ASML EWY TQNT NFX RFMD RATE BPI GALT ZLTQ
July 29, 2014
16:44 EDTNFXNewfield Exploration reports Q2 adjusted EPS 43c, consensus 52c
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16:42 EDTNFXNewfield Exploration signs agreement to sell Granite Wash assets for $588M
Newfield Exploration announced the signing of a $588M purchase and sale agreement for its Granite Wash assets to Oklahoma City-based Templar Energy. The sale will have an effective date of July 1 and is expected to close in Q3. Newfield's assets in the Granite Wash include approximately 42K net acres and current net daily production is nearly 65 MMcfe/d, of which approximately 60% is natural gas. Proved net reserves at year-end 2013 were approximately 38 MMBOE. Newfield intends to use the proceeds from this sale to call its 7 1/8% Senior Subordinated Notes due in 2018.
15:53 EDTNFXNotable companies reporting after market close
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July 18, 2014
06:47 EDTNFXNewfield Exploration removed from short-term buy list at Deutsche Bank
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