United States

Profile: Newfield Exploration Co (NFX.N)

NFX.N on New York Stock Exchange

23 Feb 2017
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Newfield Exploration Company (Newfield), incorporated on December 5, 1988, is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company's operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. The Company's segments are the United States and China. Its principal areas of operation are the Anadarko and Arkoma Basins of Oklahoma, the Williston Basin of North Dakota, the Uinta Basin of Utah and the Maverick, and Gulf Coast basins of Texas. In addition, it has oil developments offshore China. Its proved reserves of approximately 510 million barrels of oil equivalents (MMBOE) consist of over 310 MMBOE proved developed producing, over 20 MMBOE proved developed non-producing and over 180 MMBOE proved undeveloped reserves. Its proved liquids reserves are approximately 290 million barrels. Over 71% of its proved liquid reserves are crude oil or condensate. Its proved natural gas reserves are approximately 1,305 billion cubic feet (Bcf). The Company owns mineral interests in over 454,000 gross and 113,000 net acres.

The Company's plays include SCOOP and STACK. The Company holds over 315,000 net acres in SCOOP and STACK. Its average net production from the basin is approximately 75 thousand barrels of oil equivalents per day (MBOEPD). The Company has dry gas production in the Arkoma Basin, representing approximately 10% of its total consolidated proved reserves. The Company has approximately 146,000 net acres in the Arkoma Basin and its net production is approximately 10 MBOEPD (99% dry gas). The Company has approximately 215,000 net acres in the Uinta Basin, which represents over 16% of its consolidated proved reserves. Its Uinta Basin operations are divided into two areas: the Greater Monument Butte Unit (GMBU) waterflood and an area to the north and adjacent to the GMBU that the Company refers to as the Central Basin.

The Company's net production from the Uinta Basin averages approximately 20 MBOEPD (over 82% oil and 2% NGLs). The Company has approximately 85,000 net acres in the Williston Basin. This basin represents over 10% of its consolidated proved reserves. Its net production in this basin averages approximately 20 MBOEPD (over 67% oil and 15% NGLs). Approximately 4% of its consolidated proved reserves are located in the Eagle Ford shale. This area contains approximately 35,000 net acres. Its production in the Eagle Ford shale averages approximately 10 MBOEPD (over 46% oil and 29% NGLs). Approximately 10 MMBOE, or 2%, of its proved reserves are located in offshore China. Its Pearl development, located in the South China Sea, has average net production of approximately 10 thousand barrels of oil per day (MBOPD).

Company Address

Newfield Exploration Co

4 Waterway Square Pl Ste 100
THE WOODLANDS   TX   77380-2764
P: +1281.2105100
F: +1281.2105101

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