* Q1 adj EPS $0.91 vs est $0.76
* Q1 rev up 24 pct to $678 mln
April 24 Newfield Exploration Company's
profit beat analysts' expectations for the first time in four
quarters, helped by higher production, as the company increases
its focus on oil-rich plays.
The independent oil and gas producer also backed its strong
full-year outlook, with oil production forecast to rise 20
percent to 292-302 billion cubic feet equivalent (bcfe).
First-quarter net income was $116 million, or 86 cents per
share, compared with a loss of $17 million, or 13 cents per
share, last year.
Excluding items, it earned 91 cents per share.
Oil and gas revenue rose 24 percent to $678 million.
Analysts had expected the Houston-based company to report a
profit of 76 cents per share on revenue of $686.1 million,
according to Thomson Reuters I/B/E/S.
Shares of the company, which have lost more than 11 percent
of their value in the last six months, closed at $33.71 on the
New York Stock Exchange on Tuesday.