Newfield Exploration Company - Onshore Gulf Coast
Percent of 2009 Total Company Reserves: 9%
Percent of 2010e Total Company Production: 18%
Percent of 2010 Capital Budget: 10%
Location: Headquarters in Houston, Texas, with operations in South, West and East Texas.
Focus: Natural gas development and exploration with an emphasis on large acreage positions.
We've been active onshore Texas since the mid-90s. Our primary focus today is on the Maverick Basin. These assets in the Maverick Basin of southwest Texas include approximately 300,000 net acres with multiple geologic targets. Current net production is approximately 1,500 BOEPD, of which approximately two-thirds is oil. Our primary geologic targets for future development include the Eagle Ford and Pearsall Shales. At the end of 2009, we owned an interest in approximately 375,000 gross acres (224,000 net) and about 1,000 gross producing wells onshore Texas. At year-end 2009, we were producing approximately 170 MMcfe/d from our onshore Texas assets.