Newfield Exploration Company - Focus Area
Domestic Areas of Operation:
Newfield Exploration Company is an independent crude oil and natural gas exploration and production company headquartered in Houston, Texas. Our growth strategy has evolved since we were founded in 1989 and has allowed us to move into new unconventional plays, lengthen our reserves life and build a portfolio capable of sustainable future growth. Our primary focus is on domestic, unconventional resource plays. These plays represented more than 80% of our proved reserves and more than 85% of our probable reserves. In addition, we have exploration and development activities underway in the deepwater Gulf of Mexico and Southeast Asia. Our strategy today consists of the following key elements:
- Focusing on unconventional, domestic resource plays of scale;
- Growing reserves through an active drilling program, supplemented with select acquisitions;
- Focusing on select geographic areas and allocating capital to the best growth opportunities;
- Controlling operations and costs; and
- Attracting and retaining a quality workforce through equity ownership and other performance-based incentives.
Our domestic areas of operations include the Mid-Continent, the Rocky Mountains, onshore Texas and the deepwater Gulf of Mexico. Our international areas of operation include offshore Malaysia and China. At year-end 2009, our total proved reserves were 3.6 Tcfe, of which approximately 70% is natural gas and 53% is proved developed.