Newfield Exploration Company Company News

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Newfield Founder Joe Foster Passes Away
Tuesday, May 12, 2020Foster started Newfield in 1989 with a team of 26 employees and $9 million of equity capital.

Encana to Acquire Newfield for $5.5 Billion
Thursday, November 01, 2018Encana reverses course with a $5.5 billion acquisition of a US shale producer in what will be the company's biggest-ever deal.

Big Shale Turns OPEC Ally From Foe With Focus on Oil Returns
Monday, December 04, 2017Don't expect Big Shale to rush and fill the hole left by OPEC in the oil market.

Shale Drillers Show Few Signs of Slowing as Profits Expand
Wednesday, August 02, 2017Four of the biggest US drillers said they're not backing away from lofty production targets for 2017.

$2 Billion Gulfport Buy Shows Drillers Thirsting for Next Play
Thursday, December 15, 2016America's shale gas drillers are back to looking for the next big play.

Newfield CEO Sees Cautious Approach on Big Oklahoma Oil Find
Monday, October 17, 2016Producers need more exploration time and a higher oil price before they can begin accelerating drilling in the Scoop and Stack oil formation, Lee Boothby says.

E&P Companies Target Potential of STACK, SCOOP Plays
Thursday, August 25, 2016Operators are testing the oil potential of the STACK and SCOOP plays as they seek E&P opportunities that work in a lower oil price environment.

Lost Generation Of Oil Workers Leaves Few Options For Next Boom
Thursday, July 07, 2016The oil industry is fighting a generation gap.

Newfield Exploration to Cut Jobs in Tulsa, Move Workers to Houston Area
Thursday, May 12, 2016Newfield Exploration is reducing its Tulsa office and relocating 150 workers to the Houston area.

Key to Surviving the Oil Bust: Beware Bankers Bearing Cheap Debt
Tuesday, January 26, 2016During the go-go days of $100 oil, bankers swarmed into Travis Stice's office in downtown Midland, Texas, trying to sell him on the wonders of easy credit.

E&P Oil Firms Using Stock Sales To De-Lever
Friday, February 27, 2015Exploration and production companies are bracing for a sustained period of low commodity prices by deleveraging through stock sales - and well-funded firms are surprisingly leading the way.

Newfield to Retain China Assets
Tuesday, January 13, 2015Newfield Exploration says it concludes its marketing process for its China business and now plans to retain the assets.

Brightoil to Bid for All Newfield's Shares in Bohai Bay, Pearl River Blocks
Tuesday, November 04, 2014Brightoil reveals plan to bid for all of Newfield's interests in Bohai Bay Block 05/36 and Pearl River Block 16/05 offshore China.

Newfield Boosts 2014 Production Guidance
Thursday, July 17, 2014Newfield Exploration raises its 2014 production guidance, reflecting year-to-date operating momentum across the company.

SapuraKencana Plans $500M Annual Capex to Develop Newfield's Assets
Tuesday, March 25, 2014Malaysian oilfield services firm SapuraKencana Petroleum plans to spend $500 million.

Murphy's Potential Sale of Upstream Assets in Malaysia Attracts Local Firms
Friday, February 21, 2014Murphy Oil's potential sale of a 30 percent interest in upstream assets in Malaysia draws interest from local petroleum companies.

SapuraKencana Completes Purchase of Newfield's Upstream Assets in Malaysia
Tuesday, February 11, 2014SapuraKencana Petroleum completes acquisition of Newfield's upstream petroleum assets in Malaysia.

SapuraKencana Gains Foothold in Malaysia's Upstream Sector
Wednesday, October 23, 2013SapuraKencana Petroleum's acquisition of all equity interest in Newfield Malaysia Holdings held by Newfield Exploration will give the company a foothold in Malaysia's upstream sector.

Newfield Sells Malaysian Offshore Busines
Tuesday, October 22, 2013The company expects to close the $898 million cash deal in early 2014.

Newfield Exploration CFO to Retire in 2014
Monday, October 14, 2013Newfield Exploration announces hat Terry W. Rathert, a Newfield founder and the Executive VP and CFO, will retire in 2014.

SapuraKencana, Petrofac Join Shortlist to Bid for Newfield's Asia Assets
Wednesday, August 28, 2013SapuraKencana Petroleum and Petrofac make the shortlist to participate in second round bidding for Newfield Exploration Co.'s upstream assets in Malaysia and China.

Hibiscus Enters into 2nd Round Bidding for Newfield's Asia Assets
Thursday, August 22, 2013Malaysia's Hibiscus Petroleum gets shortlisted for second round bidding for Newfield Exploration Co.'s assets in Malaysia and China.

Exxon, Shell Advance in Newfield's Asia Auction - Sources
Thursday, August 15, 2013ExxonMobil and Shell are among the suitors advancing to the next round of bidding for Newfield Exploration Co's Malaysian and Chinese oil and gas fields.

Investigation Underway Into Utah Drilling Site
Friday, May 10, 2013An investigation is underway into an explosion of an oil tank at a Newfield Exploration Co. site in Uintah County, Utah.

Newfield Unveils New Gas Find, Looks to Sell International Business
Wednesday, April 03, 2013Newfield Exploration makes a significant natural-gas discovery off Sarawak, Malaysia, and said it is looking to sell its international business.

Eco-Trade Acquires South Bakken Prospect
Friday, December 07, 2012Eco-Trade Corp. has signed a definitive agreement to acquire the South Bakken Prospect in Montana.

Newfield Exploration Sells Remaining GOM Assets
Tuesday, September 18, 2012Newfield Exploration Company announced signing an agreement to sell its remaining assets in the Gulf of Mexico to W&T Offshore, Inc.

Newfield Exploration Prices Public Offering
Tuesday, June 19, 2012Newfield Exploration Company has priced its public offering of $1 billion.

Newfield Exploration Updates GOM-Stake Sale
Monday, February 06, 2012Newfield Exploration Company provided an update on its ongoing sale of non-strategic assets.

Ecosphere, Newfield Extend Woodford Shale Contract
Tuesday, December 20, 2011Subsidiaries of Ecosphere Technologies and Newfield Exploration on Tuesday announced they had signed a two-year contract extension for Ecosppher to keep providing Woodford Shale recycling services.

Expert: Capital Available for O&G Mergers, Acquisitions
Monday, October 31, 2011Energy industry experts say capital funding for merger and acquisitions of unconventional hydrocarbon assets is readily available to O&G companies.

Newfield All Smiles over Uteland Butte HZ Play
Wednesday, July 20, 2011Newfield Exploration provided a comprehensive update on its Uinta Basin oil development programs.

Newfield Briefs Initial Results from Eagle Ford Assessment Program
Monday, January 10, 2011Newfield Exploration disclosed initial results from its Eagle Ford Shale assessment program.

Newfield Exploration Resumes Production Offshore Malaysia
Monday, August 09, 2010Newfield Exploration announced that oil production from its East Belumut Field, located on PM 323 offshore Malaysia, had resumed following repairs.

Newfield Exploration Updates on Pipeline Damage Offshore Malaysia
Monday, July 12, 2010Newfield Exploration determined that an oil pipeline connecting the East Belumut platform to the Tinggi platform was damaged by the activities of an unidentified marine vessel unrelated to Newfield's ops.

Primary Updates Alberta Basin Bakken Project
Tuesday, July 06, 2010Primary Petroleum Corporation has seen increased activity in the Alberta Basin Bakken Fairway in Western Montana.

Newfield Bumps Up Reserves to 3.6 Tcfe
Wednesday, February 17, 2010Newfield's proved reserves at December 31, 2009 were 3.6 Tcfe, a 23% increase over proved reserves at year-end 2008.

Haynes and Boone Advises Newfield in TXCO Asset Purchase
Monday, February 15, 2010Haynes and Boone, LLP represented Newfield Exploration Co. in last Thursday's purchase of assets in the Maverick Basin of Southwest Texas from TXCO Resources Inc.

Newfield Exploration Names Board Chairman
Monday, February 08, 2010Newfield Exploration Company's Board of Directors has named Lee K. Boothby, to the additional role of Chairman of the Board, effective upon his re-election at the Company's annual stockholders' meeting on May 7, 2010.

Newfield Exploration Amends Tender Offer for 2011 Notes
Friday, February 05, 2010Newfield Exploration has amended its previously announced tender offer for any and all of its outstanding $175,000,000 7 5/8% Senior Notes due 2011.

Newfield Prices $700MM of Notes Due 2020
Thursday, January 21, 2010Newfield has priced $700 million of 6 7/8% Senior Subordinated Notes due 2020.

Newfield Commences $650MM Offering of 2020 Notes
Wednesday, January 20, 2010Newfield has commenced an offering of $650 million of Senior Subordinated Notes due 2020.

Newfield Selects Paradigm Geolog for Petrophysical Analysis
Tuesday, January 19, 2010Paradigm announced that Newfield Exploration Company has selected Paradigm Geolog as its chief application for well log and petrophysical analysis.

Newfield Sets Production Record in Woodford Shale
Tuesday, January 19, 2010Newfield has achieved record gross operated production from the Woodford Shale play in the Arkoma Basin of southeastern Oklahoma.

Newfield, Anadarko to Buy TXCO Assets for Up to $310MM
Tuesday, January 12, 2010Oil and gas explorers Newfield and Anadarko announced a joint transaction to acquire bankrupt TXCO Resource Inc.'s assets in the Maverick Basin of Southwest Texas for up to $310 million.

Anadarko to Pay $310MM for Bankrupt TXCO's Assets
Wednesday, January 06, 2010Outbidding Newfield Exploration, Anadarko will pay $310 million in cash for most of bankrupt TXCO Resources' assets. The deal adds to Anadarko's position in the Eagle Ford shale play in South Texas.

Newfield, Harvest Turn on Taps at Antelope Project
Friday, December 18, 2009Harvest Natural Resources has established initial oil and gas production from an eight-well appraisal and development drilling project on its Antelope project in Duchesne County, Utah.

Drillers Still Uncover Promising Oil Bounty in GOM
Monday, December 07, 2009Despite a tough economy that forced cuts elsewhere, oil and gas producers in 2009 continued their push into the deep-water Gulf of Mexico, and many of their efforts were rewarded.

Newfield Exploration Reports 3Q Financial, Operating Results
Wednesday, October 21, 2009Newfield Exploration has reported its unaudited third quarter 2009 financial and operating results.

Newfield, Hess Team Up to Explore Marcellus Shale Play
Wednesday, October 14, 2009Operator Newfield has formed a 50-50 joint venture with Hess to explore in the Marcellus Shale play, covering up to 140,000 gross acres.