The Woodlands, TX, United States
The Woodlands, TX, United States

Headquartered in Houston, Texas, Newfield Exploration is an independent company that specializes in the exploration and production of crude oil and natural gas. Its operations in the United States include the Mid-Continent region of Oklahoma and northern Texas, along the Rocky Mountains, southern and coastal Texas, the Gulf of Mexico, and recently in Pennsylvania along the Appalachia Mountains. Newfield also operates internationally through numerous sites offshore of Malaysia and China. By the end of 2009, total proved reserves were 3.6 trillion cubic feet equivalent with approximately 85% of those reserves being located onshore of the U.S. Newfield's present base is estimated to be about 70% natural gas. Today, Newfield has an enterprise value of more than $8.5 billion. Wikipedia.


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News Article | May 16, 2017
Site: www.prnewswire.com

Chisholm intends to pursue unconventional resource opportunities where it can leverage its horizontal drilling and completions expertise.  The Company is led by Chief Executive Officer Mark Whitley, who since 2014 had served as an advisor to Warburg Pincus.  Prior to this affiliation, Mr. Whitley had a long and successful career in the industry, most recently as Senior Vice President of the Southwest Division of Range Resources Corporation ("Range").  While at Range, he assembled a more than 100,000 net acre position in the Barnett Shale and subsequently led Range's initial efforts in both the liquids-rich and dry gas portions of the Marcellus Shale. Mr. Whitley is joined at Chisholm by a senior team with a strong track record of industry-leading operating performance.  This team includes industry veterans Mike Middlebrook, Chief Operating Officer; Aaron Gaydosik, Chief Financial Officer; Martin Emery, Senior Vice President – Geosciences; Andrew Tullis, Vice President – Engineering; Brad Grandstaff, Vice President – Operations; and Scott Herstein, Vice President – Business Development.  The team has deep operating experience in multiple unconventional plays across the United States, including the northern Delaware Basin. Mr. Whitley commented, "We are excited to be building a new enterprise focused on the Delaware Basin of New Mexico, where we continue to see many untapped and compelling opportunities.  We are pleased to have partnered with Warburg Pincus and to have their support behind our ongoing efforts." James R. Levy, Managing Director, Warburg Pincus, said, "Having known Mark for several years, we are highly confident in his and the entire Chisholm team's ability to create value through their considerable drilling and completions expertise.  We look forward to supporting them as they pursue their strategy." About Chisholm Energy Holdings, LLC Chisholm is a start-up oil and gas production company with operational headquarters in Fort Worth, Texas.  The Company is focused on pursuing unconventional resource opportunities in the northern Delaware Basin.  Chisholm is led by a seasoned team of oil and gas executives in partnership with Warburg Pincus, a global private equity firm with a 25-year track record of building businesses and creating value in the energy sector.  For more information, visit www.chisholmenergy.com. About Warburg Pincus Warburg Pincus LLC is a leading global private equity firm focused on growth investing.  The firm has more than $44 billion in private equity assets under management.  The firm's active portfolio of more than 140 companies is highly diversified by stage, sector and geography.  Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value.  Founded in 1966, Warburg Pincus has raised 16 private equity funds which have invested more than $60 billion in over 780 companies in more than 40 countries. For more than two decades, Warburg Pincus has invested or committed over $13 billion across more than 70 energy investments around the world involved in upstream, midstream and downstream oil and gas; energy services and technology; power generation and transmissions; alternative energy and renewables; and mining and metals.  Notable current and former oil and gas portfolio companies for which Warburg Pincus was a founding institutional investor include Antero Resources, Bill Barrett Corporation, Brigham Resources and Minerals, Broad Oak Energy, Encore Acquisition Company, Kosmos Energy, Laredo Petroleum, Newfield Exploration, Spinnaker Exploration and Targa Resources. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore.  For more information please visit www.warburgpincus.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/chisholm-energy-holdings-announces-acquisition-in-the-new-mexico-delaware-basin-300457880.html


News Article | May 16, 2017
Site: www.prnewswire.com

THE WOODLANDS, Texas, May 16, 2017 /PRNewswire/ -- Newfield Exploration Company (NYSE: NFX) is scheduled to present at the following event. A live webcast of the presentation will be made available through Newfield's website at http://www.newfield.com.


News Article | May 19, 2017
Site: www.prnewswire.com

THE WOODLANDS, Texas, May 19, 2017 /PRNewswire/ -- Newfield Exploration Company (NYSE: NFX) will host its second quarter 2017 earnings conference call at 10:00 a.m. (CDT), Wednesday, August 2, 2017.  The Company plans to release its second quarter earnings after market close on August 1, 2017. To participate in the conference call, please dial (719) 457-2087 and provide conference code 3843455 at least 10 minutes prior to the scheduled start time.  In addition, a listen-only broadcast of the call also will be provided over the internet at http://www.newfield.com, under Investor Relations.


News Article | May 2, 2017
Site: www.prnewswire.com

"As you can see from our first quarter results, we are off to a great start in 2017 and building momentum that should carry into 2018 and beyond," said Lee K. Boothby, Newfield Chairman, President and CEO. "We remain confident that our near-term business plan is aligned with today's market realities. Our plan was carefully constructed to achieve several important objectives... to set the organization on a course to balance investments with cash flow while sustainably delivering double-digit production growth in the future, advance our learning curve in STACK through enhanced completions and initial infill drilling on multi-well pads, assess our SCORE program which includes several liquids-rich targets on our acreage and timely identify and mitigate potential bottlenecks to future development plans." First Quarter 2017 Financial and Production Summary For the first quarter, the Company recorded net income of $147 million, or $0.73 per diluted share (all per share amounts are on a diluted basis). After adjusting for the effect of unrealized derivative gains during the period, net income would have been $114 million, or $0.57 per share. Revenues for the first quarter were $417 million. Net cash provided by operating activities was $167 million. Discretionary cash flow from operations was $243 million. Newfield's total net production in the first quarter of 2017 was 145,978 BOEPD, comprised of 43% oil, 19% natural gas liquids and 38% natural gas. Domestic production in the first quarter was 138,833 BOEPD, comprised of 40% oil, 20% natural gas liquids and 40% natural gas. Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Our U.S. operations are onshore and focus primarily on large scale liquids-rich resource plays. Our principal areas of operation are the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota and the Uinta Basin of Utah. We also have oil producing assets offshore China. **This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "may," "forecast," "outlook," "could," "budget," "objectives," "strategy," "believe," "expect," "anticipate," "intend," "estimate," "project," "target," "goal," "plan," "should," "will," "predict," "guidance," "potential" or other similar expressions are intended to identify forward-looking statements. Other than historical facts included in this release, all information and statements, including but not limited to information regarding planned capital expenditures, estimated reserves, estimated production targets, drilling and development plans, the timing of production, planned capital expenditures, and other plans and objectives for future operations, are forward-looking statements.  Although, as of the date of this release, Newfield believes that these expectations are reasonable, this information is based upon assumptions and anticipated results that are subject to numerous uncertainties and risks. Actual results may vary significantly from those anticipated due to many factors, including but not limited to commodity prices, drilling results, our liquidity and the availability of capital resources, operating risks, industry conditions, U.S. and China governmental regulations, financial counterparty risks, the prices of goods and services, the availability of drilling rigs and other support services, our ability to monetize assets and repay or refinance our existing indebtedness, labor conditions, severe weather conditions, new regulations or changes in tax or environmental legislation, environmental liabilities not covered by indemnity or insurance, legislation or regulatory initiatives intended to address seismic activity, and other operating risks. Please see Newfield's 2016 Annual Report on Form 10-K,  Q1 2017 Quarterly Report on Form 10-Q and subsequent public filings, all filed with the U.S. Securities and Exchange Commission (SEC), for a discussion of other factors that may cause actual results to vary. Unpredictable or unknown factors not discussed in this press release or in Newfield's SEC filings could also have material adverse effects on Newfield's actual results as compared to its anticipated results. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release. Unless legally required, Newfield undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Explanation and Reconciliation of Non-GAAP Financial Measures Adjusted Net Income (Earnings Stated Without the Effect of Certain Items) Earnings stated without the effect of certain items is a non-GAAP financial measure. Earnings without the effect of these items are presented because they affect the comparability of operating results from period to period. In addition, earnings without the effect of these items are more comparable to earnings estimates provided by securities analysts. This measure should not be considered an alternative to net income (loss) as defined by generally accepted accounting principles. A reconciliation of earnings for the first quarter of 2017 stated without the effect of certain items to net income (loss) is shown below: Discretionary cash flow from operations represents net cash provided by operating activities before changes in operating assets and liabilities and is presented because of its acceptance as an indicator of an oil and gas exploration and production company's ability to internally fund exploration and development activities and to service or incur additional debt. This measure should not be considered an alternative to net cash provided by operating activities as defined by generally accepted accounting principles. A reconciliation of net cash provided by operating activities to discretionary cash flow from operations is shown below: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/newfield-exploration-reports-first-quarter-2017-results-300449894.html


News Article | May 8, 2017
Site: www.prnewswire.com

"We are pleased to welcome the Choice team to Rubicon and believe this transaction will significantly enhance our participation in the multi-stage completions market, fueled by passionate people and one of the most exciting downhole completion product offerings in the industry," said Michael Reeves, President and Chief Executive Officer of Rubicon.  "The combination of best-in-class engineering, manufacturing and customer service capabilities from Rubicon and Choice will immediately enable our teams to offer higher value and more comprehensive completions solutions to customers." "Choice technology was born from listening to customers' pain points and applying practical innovation to create one of the most exciting frac plug and toe sleeve offerings in the market," said Jayme Sperring, Chief Commercial Officer of Rubicon.  "Today's announcement represents another important step in Rubicon's path to delivering an exceptional customer experience, offering value-driven products and a highly specialized team of professionals." "The Choice team has built something truly special and I am very excited by the opportunities this transaction will create for our employees and customers," said Wes Pixley, CEO of Choice.  "Rubicon's strong footprint, commitment to customer service and robust balance sheet will dramatically accelerate the growth of our business." Rubicon Oilfield International Holdings, L.P. designs, manufactures and sells/rents downhole oilfield products in every major market around the globe.  Rubicon was formed in 2015 and through the acquisition of leading downhole products businesses such as Tercel Oilfield Products, Top-Co Holdings and Logan International provides a broad suite of technology used throughout an oil and gas well's lifecycle. Headquartered in Houston, Texas with activity in over 50 countries and over 800 employees globally, Rubicon is fueled by strong commercial, manufacturing and engineering teams working closely together to deliver a world-class customer experience.  Rubicon is led by a seasoned team of oilfield service and equipment industry executives and is committed to building a best-in-class global enterprise in the oilfield products and equipment sector.  For more information, please visit www.rubicon-oilfield.com. Choice Completions Systems, LLC was established in 2016 as a technology business specializing in the design and deployment of differentiated frac plug and toe sleeve products to enhance unconventional multi-stage completion operations.  Based in Houston, TX, Choice Completions Systems uses modern engineering to deliver technologies intended to solve customers' challenges in complex completion applications.  Their management, engineers and technicians have extensive experience in downhole completion products and services and an intense focus on customer service. Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $44 billion in private equity assets under management. The firm's active portfolio of more than 140 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 16 private equity funds, which have invested more than $60 billion in over 780 companies in more than 40 countries. For more than two decades, Warburg Pincus has invested or committed over $13 billion across more than 75 energy investments around the world with a focus on upstream, midstream and downstream oil and gas; energy services and technology; power generation and transmission; alternative energy and renewables; and mining and metals. Notable investments include Antero Resources, Bill Barrett Corporation, Broad Oak Energy, Encore Acquisition Company, Kosmos Energy, Laredo Petroleum, MEG Energy, Newfield Exploration, Spinnaker Exploration and Targa Resources. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/rubicon-oilfield-international-acquires-choice-completions-systems-300452751.html


News Article | February 21, 2017
Site: www.prnewswire.com

THE WOODLANDS, Texas, Feb. 21, 2017 /PRNewswire/ -- Newfield Exploration Company (NYSE: NFX) today reported its fourth quarter 2016 financial results, as well as 2016 year-end proved reserves. Additional operational details can be found in the Company's @NFX publication, located on its...


News Article | February 21, 2017
Site: www.prnewswire.com

THE WOODLANDS, Texas, Feb. 21, 2017 /PRNewswire/ -- Newfield Exploration Company (NYSE: NFX) today provided its 2017 capital plan and a multi-year production growth outlook for the Company, driven by its industry-leading position in the SCOOP and STACK plays in the Anadarko Basin of...


News Article | November 1, 2016
Site: www.prnewswire.com

THE WOODLANDS, Texas, Nov. 1, 2016 /PRNewswire/ -- Newfield Exploration Company (NYSE: NFX) today reported its third quarter 2016 unaudited financial and operating results. Additional operational details can be found in the Company's @NFX publication, located on its website. Newfield...


NEW YORK, December 23, 2016 /PRNewswire/ -- This Friday, Stock-Callers.com looks at the performance of these four Oil & Gas stocks Continental Resources Inc. (NYSE: CLR), SM Energy Company (NYSE: SM), Baytex Energy Corporation (NYSE: BTE), and Newfield Exploration Company (NYSE:...


NEW YORK, February 22, 2017 /PRNewswire/ -- Stock-Callers.com has taken note of the recent performances of four equities in the Independent Oil and Gas industry which are: SM Energy Co. (NYSE: SM), Continental Resources Inc. (NYSE: CLR), Newfield Exploration Co. (NYSE: NFX), and EP...

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