Profile: Newfield Exploration Co (NFX)
20 Nov 2017
Newfield Exploration Company, incorporated on December 5, 1988, is an independent exploration and production company. The Company is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its operating segments are the United States and China. The Company's the United States operations are onshore and focus primarily on large scale, liquids resource plays. Its principal areas of operation are the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota and the Uinta Basin of Utah. In addition, it has oil producing assets offshore China. As of December 31, 2016, its proved reserves of 513 million barrels of oil equivalents (MMBOE) consisted of 304 MMBOE proved developed producing, 10 MMBOE proved developed non-producing and 199 MMBOE proved undeveloped reserves. As of December 31, 2016, its proved liquids reserves were 285 million barrels of crude oil or other liquid hydrocarbons (MMBbls). As of December 31, 2016, 67% of its proved liquids reserves were crude oil or condensate. As of December 31, 2016, its proved natural gas reserves were 1,366 billion cubic feet (Bcf). As of December 31, 2016, it owned mineral interests in 420,000 gross and 114,000 net acres.
The Company's resource plays include South-Central Oklahoma Oil Province (SCOOP), which is located in Anadarko Basin of Oklahoma and Sooner Trend Anadarko Canadian Kingfisher (STACK), which is located Anadarko Basin of Oklahoma. As of December 31, 2016, it held approximately 400,000 net acres in SCOOP and STACK. As of December 31, 2016, its average net production from the basin was approximately 88 thousand barrels of oil equivalents per day (MBOEPD). It has dry gas production in the Arkoma Basin, representing approximately 12% of its total consolidated proved reserves. As of December 31, 2016, it had approximately 147,000 net acres in the Arkoma Basin, and its net production was approximately 16 MBOEPD (98% dry gas). As of December 31, 2016, it had approximately 217,000 net acres in the Uinta Basin, which represents approximately 13% 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 it refers to as the Central Basin. As of December 31, 2016, its net production from the Uinta Basin averaged approximately 15 MBOEPD.
As of December 31, 2016, the Company had approximately 82,000 net acres in the Williston Basin. Williston Basin represents approximately 10% of its consolidated proved reserves. As of December 31, 2016, its net production averaged approximately 16 MBOEPD (67% oil and 18% NGLs). Approximately five MMBbls of its proved reserves are located offshore China. As of December 31, 2016, its Pearl development, located in the South China Sea, had average net production of 11 thousand barrels of oil per day (MBOPD).
Newfield Exploration Co
4 Waterway Square Pl Ste 100
THE WOODLANDS TX 77380-2764